PetroChina: Chinese Energy Giant
PetroChina Company Limited according to Wikipedia is a Chinese oil and gas company that is the listed arm of state-owned China National Petroleum Corporation (CNPC). The company is based in Dongcheng District, Beijing. PetroChina is the largest oil producer in China and trades on the Hong Kong, New York, and Shanghai stock exchanges.
The firm is the most profitable in Asia. It may be the result of excellent corporate management and it has also been pointed out that it has near duopoly on wholesale and retail business of oil products its shares with Sinopec in China.
PetroChina together with its subsidiaries, produces and sells oil and gas in the People’s Republic of China. The company operates through Exploration and Production, Refining and Chemicals, Marketing, and Natural Gas and Pipeline segment.
The Marketing segment engages in marketing refined products, as well as in trading business. It operates 20,422 service stations. The Natural Gas and Pipeline segments is involved in the transmission of natural gas, crude oil, and refined products; and sale of natural gas. As of December 31, 2014, it had oil and gas pipelines of 76,795 km consisting of 48,602 km of natural gas pipelines, 18,107 km of crude oil pipelines, and 10,086 km of refined product pipelines.