PetroChina
Corporate brand
UnclaimedOne of China’s largest integrated oil and gas producers and the listed arm of CNPC.
Last updated October 29, 2026
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Overview
PetroChina Company Limited is a Chinese integrated energy company and the publicly listed subsidiary of China National Petroleum Corporation (CNPC), one of the country’s state-owned energy groups. Established on 5 November 1999 during the restructuring of CNPC, PetroChina received most of the parent group’s assets and liabilities associated with exploration and production, refining and marketing, petrochemicals, and natural-gas operations. The company is headquartered in Beijing and has become one of the largest oil and gas producers in Asia. Its operating model spans much of the petroleum value chain. Upstream activities include exploration, development and production of crude oil and natural gas in major Chinese basins and overseas projects. Important domestic production areas include the Daqing, Changqing, Tarim, Xinjiang and Bohai regions. Midstream operations include gas transportation, storage and pipeline infrastructure, including major parts of China’s West–East Gas Pipeline system. Downstream activities include crude-oil refining, fuels marketing, lubricants, petrochemicals and chemical feedstocks. The company also participates in liquefied natural gas, coalbed methane, shale gas and international energy investments. PetroChina’s public-market history includes listings in Hong Kong and New York, followed by a Shanghai listing in 2007. Its Shanghai shares subsequently entered the SSE 50 Index, while its scale and state ownership have made it an important component of China’s energy and capital-market systems. The company has also been included in major global public-company rankings, although rankings vary by year and methodology. The company has pursued international supply and resource partnerships, including long-term Australian LNG arrangements, Canadian shale-gas investments and participation in cross-border Central Asian gas infrastructure. These activities have supported China’s energy-security objectives while exposing PetroChina to commodity-price volatility, geopolitical risk, environmental scrutiny and foreign-investment controversy. PetroChina has faced criticism over pollution incidents, environmental effects associated with pipeline and resource development, alleged human-rights risks in overseas projects, offshore-company disclosures, trade irregularities and corruption involving former executives. These matters concern the company or its subsidiaries and, in several cases, parent-group relationships rather than current operating performance alone. Since the early 2020s, PetroChina has also expanded its stated transition activities. The company has invested in wind, solar and geothermal projects while continuing to center its business on oil, gas, refining and chemicals. It remains an active, state-controlled energy company with operations extending from domestic production and fuel distribution to international upstream assets, LNG procurement, pipelines and newer low-carbon energy projects.
History
PetroChina was created in 1999 as part of the restructuring of CNPC and the broader reform of China’s state-owned petroleum sector. The new joint-stock company absorbed most of CNPC’s oil and gas exploration and production, refining and marketing, chemical and natural-gas assets and liabilities. This structure separated a publicly traded operating company from its controlling state-owned parent while preserving CNPC’s strategic role. The company developed around China’s large domestic oil and gas fields, including Daqing, Changqing, Tarim and Bohai. Its activities gradually expanded beyond production into refining, fuels distribution, petrochemicals, natural-gas transmission and international resource investments. In 2007 PetroChina announced a mainland share issue and subsequently became part of the SSE 50 Index. It also became a constituent of the Hang Seng Index in December of that year. The listings in Shanghai, Hong Kong and New York gave the company access to different pools of capital while making it a highly visible state-linked issuer. Pipeline infrastructure became a major element of PetroChina’s gas strategy. The first West–East Gas Pipeline began construction in 2002, entered trial operation in 2004 and commenced commercial supply in January 2005. Extending roughly 4,000 kilometres from Xinjiang to Shanghai, it connected western gas resources with demand centers in eastern China. Later West–East pipeline projects expanded the network toward southern and southeastern markets and linked it with Central Asian supplies, domestic gas fields and coalbed methane resources. PetroChina Pipelines, a majority-owned subsidiary, managed important parts of the system. PetroChina also pursued overseas supply security. In 2009 it signed a long-term LNG purchase arrangement associated with ExxonMobil’s Gorgon project in Australia. In 2011 it agreed to acquire a 49 percent interest in Canadian Duvernay shale assets from Encana, then one of China’s largest shale-gas investments. Other activities included cooperation involving Nepal’s fuel supply, Australian coal-seam gas through the Arrow Energy joint venture and cross-border Central Asian gas infrastructure. Growth brought operational and reputational challenges. A 2005 explosion at a PetroChina chemical facility in Jilin released benzene into the Songhua River, disrupting water supplies in Harbin and affecting downstream communities, including across the Russian border. The company and its subsidiaries later faced criticism over pollution in Lanzhou and protests concerning a proposed petrochemical plant in Chengdu. Environmental concerns also accompanied resource and pipeline development in Xinjiang and other regions. PetroChina and its parent group became subjects of international controversy over dealings connected with Sudan and alleged human-rights risks in Burma. In 2013 former chairman Jiang Jiemin was investigated in China’s anti-corruption campaign and was later convicted and imprisoned. Former vice chairman Liao Yongyuan received a prison sentence in 2017, while former vice president Ling Xiao was investigated in 2021. Separately, leaked offshore-company records reported by investigative organizations raised tax-transparency questions concerning PetroChina and other Chinese oil companies. In the 2020s PetroChina continued operating as a large integrated oil and gas producer while adding renewable-energy capacity. Reported projects included wind and solar generation and geothermal heating or energy installations. The company’s present identity therefore combines conventional petroleum production, refining, chemicals, gas pipelines and fuel marketing with a state-supported effort to broaden its energy portfolio.
- 2022
Renewable-energy deployment accelerates
[1]PetroChina reports substantial wind, solar and geothermal installations during the first half of the year.
- 2021
Ling Xiao investigation announced
[1]Disciplinary authorities announce an investigation into former vice president Ling Xiao.
- 2017
Liao Yongyuan is sentenced
[1]The former vice chairman receives a 15-year sentence for abuse of power and bribery.
- 2015
Jiang Jiemin is convicted
[1]A Chinese court convicts Jiang on corruption-related charges and imposes a 16-year sentence.
- 2013
Former chairman Jiang Jiemin is investigated
[1]Jiang is removed from a senior state-assets role and investigated for corruption and abuse of power.
- 2012
Construction begins on the third West–East Gas Pipeline
[2]The third pipeline project is launched to expand western-to-eastern and southeastern gas transmission.
- 2011
Duvernay shale investment
[1]PetroChina agrees to buy a 49 percent stake in Canadian Duvernay shale assets.
- 2009
Gorgon LNG agreement and Dushanzi commissioning
[1]PetroChina signs a major long-term Australian LNG agreement and brings the Dushanzi refinery and petrochemical complex fully into operation.
- 2008
Large medium-term bond issue
[1]PetroChina issues 80 billion yuan in medium-term corporate bonds.
- 2007
PetroChina expands mainland-market presence
[1]The company announces a Shanghai share issue and becomes a Hang Seng Index constituent later that year.
Products and positioning
State-controlled Chinese integrated energy company combining domestic oil and gas production, refining, fuels marketing, gas infrastructure, petrochemicals and selected renewable-energy investments.
Upstream petroleum
Crude oil
PetroChina explores for and produces crude oil from major Chinese basins and selected overseas assets. Domestic production remains central to the company’s integrated model, supplying its own refining system and supporting national energy security.
Upstream and gas supply
Natural gas
Natural gas is produced from domestic fields including the Tarim and Changqing regions and supplemented by imported and internationally sourced gas. PetroChina markets gas for industrial, residential and power-generation demand.
Refining and marketing
Refined fuels
The company refines crude oil into gasoline, diesel, jet fuel and other petroleum products, distributing fuels through its marketing network and related commercial channels in China.
Chemicals
Petrochemicals
PetroChina produces ethylene, chemical feedstocks and other petrochemical products through integrated refining and chemical complexes, including the Dushanzi and Liaoyang operations.
Natural-gas infrastructure · 2004
West–East Gas Pipeline system
PetroChina operates and invests in a large network transporting gas from western China and Central Asian sources to eastern, southern and southeastern demand centers. The network includes three major West–East pipeline projects and associated branches, storage and processing assets.
Low-carbon energy
Renewable energy
PetroChina has expanded into wind, solar and geothermal projects as part of its stated transition strategy, while retaining oil, gas, refining and chemicals as its core businesses.
Controversies
2025
Former CNPC chairman Wang Yilin sentenced to 13 years in first instance in bribery case
On May 13, 2025, the Ordos Intermediate People's Court sentenced Wang Yilin, former chairman of CNPC, to 13 years in prison and a fine of 3 million yuan at first instance. The court found that he accepted more than 35.01 million yuan in bribes, with related conduct involving his service at Xinjiang Oilfield, CNPC, and CNOOC.
2022
Fuel-oil trading irregularities
Chinese authorities punished PetroChina Fuel Oil Co. for alleged inconsistencies in oil trading that they said disrupted market order and contributed to tax losses.
2021
Ling Xiao disciplinary investigation
China’s disciplinary authorities announced an investigation into former PetroChina vice president Ling Xiao for alleged serious disciplinary violations.
2021
Shandong Luxing Oil and Gas Sales fined for environmental violation
Shandong Luxing Oil and Gas Sales Co., a subsidiary of China Petroleum (PetroChina), was fined CNY 375,000 for beginning construction without legally filing an environmental impact report for the project. The penalty concerned the company's failure to submit the required environmental impact report form before starting work on the project. The event was reported on January 13, 2021.
2014
Lanzhou pollution incidents
Lanzhou Petrochemical faced criticism involving ethylene and ammonia leaks, benzene contamination concerns and air pollution.
2013
Jiang Jiemin corruption case
Former chairman Jiang Jiemin was investigated and later convicted of bribery, unexplained assets and abuse of power.
2011
Allegations concerning Burma operations
EarthRights International accused PetroChina of complicity in serious human-rights abuses connected with energy activity in Burma.
2005
Songhua River benzene spill
An explosion at a PetroChina chemical plant in Jilin released benzene into the Songhua River. Water service in Harbin was interrupted, downstream areas were affected and the incident generated cross-border concern in Russia.
Marketing campaigns
- 2008Chengdu petrochemical-plant proposal
China
Residents demonstrated against a proposed PetroChina petrochemical plant in Chengdu, citing potential pollution. The demonstrations in May were reported as peaceful, while PetroChina said part of the investment would support environmental protection.
Outcome. The project remained controversial; the available reference does not establish a complete final outcome.
Brand decisions
2022
Accelerate renewable-energy developmentStrategyBackground
PetroChina responded to China’s energy-transition priorities while maintaining its conventional oil and gas portfolio.
Action taken
The company expanded wind and solar generation and geothermal projects, reporting 5.36 gigawatts of wind and solar capacity and 11.2 million square metres of geothermal projects during the first half of the year.
Aftermath
Renewables became a more visible part of PetroChina’s portfolio, although the company remained primarily an oil, gas, refining and chemicals enterprise.
2011
Acquire a stake in Duvernay shale assetsM&ABackground
PetroChina sought overseas shale-gas resources and technical exposure while expanding its international upstream portfolio.
Action taken
The company agreed to acquire a 49 percent interest in Encana’s Canadian Duvernay shale assets.
Aftermath
The transaction became one of PetroChina’s major North American unconventional-gas investments.
Transaction value. US$5.4 billion (2011 agreement)
2009
Commit to long-term Gorgon LNG purchasesOtherBackground
China sought additional long-term LNG supply as domestic gas demand and energy-security priorities increased.
Action taken
PetroChina signed a long-term LNG purchase agreement associated with ExxonMobil’s Gorgon project in Western Australia.
Aftermath
The agreement strengthened PetroChina’s access to Australian LNG but also linked the company to changing China–Australia relations and global gas-market conditions.
Reported contract value. A$50 billion (2009 announcement; long-term contract)
1999
Create a listed operating company through CNPC restructuringStrategyBackground
China’s petroleum-sector restructuring sought to place major commercial assets in a joint-stock company while retaining state control through CNPC.
Action taken
CNPC established PetroChina and injected most relevant exploration, production, refining, marketing, chemical and natural-gas assets and liabilities.
Aftermath
PetroChina became CNPC’s principal publicly traded operating arm and developed into a major integrated energy company.
Recent events
Reported
Shell-led consortium makes final investment decision to double LNG Canada production capacity[9]
Shell said on Tuesday that a consortium it leads reached a final investment decision to double production capacity at the LNG Canada project in Kitimat, British Columbia, to roughly 28 million metric tons per annum (mtpa), up from 14 mtpa. Canada's government has previously estimated the project will attract 33 billion Canadian dollars ($23.2 billion) in private sector capital. Shell leads the project with a 40% stake alongside Petronas, PetroChina, Mitsubishi Corp and Korea Gas Corp, with commercial operations set to start in the early 2030s.
Weekdays and relative dates follow the original report; their exact calendar dates have not been verified.
Reported
BP spins off Iraq oilfield operations into a joint venture[10]
BP is spinning off its Iraq assets by setting up a joint venture with PetroChina to manage the Rumaila oilfield together with Iraq's state-held Basra Oil Company. The new venture is to operate the field through 2034.
- Unconfirmed
Shandong Luxing Oil and Gas Sales fined for environmental violations[11]
Shandong Luxing Oil and Gas Sales Co., a subsidiary controlled by PetroChina, was fined RMB 200,000 and ordered to rectify environmental violations. The penalty information was disclosed by regulators on December 30, 2020; the source says the subsidiary's environmental facilities at two service-area gas stations were put into operation before acceptance.
- Unconfirmed
Shandong Luxing Oil and Gas Sales fined for environmental violation[8]
Shandong Luxing Oil and Gas Sales Co., a subsidiary of China Petroleum, was fined CNY 375,000 for starting construction without legally filing an environmental impact report for the project.
Reported
China Petroleum completes two additional meltblown production lines[12]
China Petroleum reported that two new meltblown fabric production lines at its Liaoyang Petrochemical capacity-expansion project had entered production, bringing the group's self-built and operating lines to six.
Reported
PetroChina reports 2019 annual results[13]
PetroChina disclosed its 2019 results, reporting revenue of about RMB 2.52 trillion, up 5.97%, and net profit attributable to shareholders of about RMB 45.682 billion, down 13.87%.
Reported
China National Petroleum donates to Hubei’s COVID-19 response[14]
China National Petroleum donated RMB 50 million to the Hubei Charity Federation to support the province’s response to the COVID-19 outbreak.
Reported
Zhang Wei leaves all roles at China Petroleum[15]
China Petroleum announced that Vice Chairman Zhang Wei had left and would hold no position at the company.
Reported
Liu Hongbin resigns from PetroChina's board[16]
PetroChina announced that Liu Hongbin resigned as a director because of a work-position adjustment; the resignation took effect immediately. He also left the board's Investment and Development Committee.
Reported
China Petroleum executives resign[17]
China Petroleum Natural Gas Co. announced that Zhang Wei resigned as vice chairman and director and Hou Qijun resigned as executive director and president; both resignations took effect immediately due to job adjustments.
Sources17 sources
- 1PetroChinaen.wikipedia.org
- 2West–East Gas Pipelineen.wikipedia.org
- 3PetroChina official websitepetrochina.com.cn
- 4PetroChina Company Limitedwikidata.org
- 5中国石油天然气股份zh.wikipedia.org
- 6Jiang Jiemin corruption casespp.gov.cn
- 7Former CNPC chairman Wang Yilin sentenced to 13 years in first instance in bribery casespp.gov.cn
- 8Shandong Luxing Oil and Gas Sales fined for environmental violationnbd.com.cn
- 9壳牌牵头财团作出最终投资决定，将LNG Canada产能翻倍cnbc.com
- 10BP将伊拉克油田业务分拆至合资企业oilprice.com
- 11山东路兴石油油气销售有限公司因环境违法被罚nbd.com.cn
- 12中国石油新增两条熔喷布生产线投产finance.sina.com.cn
- 13中国石油披露2019年业绩finance.sina.com.cn
- 14中国石油向湖北捐款支持疫情防控tech.sina.com.cn
- 15张伟离职并不再担任中国石油任何职务tech.sina.com.cn
- 16刘宏斌辞去中国石油董事职务finance.sina.com.cn
- 17中国石油两名高管辞职finance.sina.com.cn
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