PetroChina Company Limited is a Chinese oil company and is the listed arm of state-owned China National Petroleum Corporation , headquartered in Dongcheng District, Beijing. It is China's biggest oil producer. Traded in Hong Kong and New York, the mainland enterprise announced its plans to issue stock in Shanghai in November 2007, and subsequently entered trading on the Shanghai index. PetroChina was established as a joint stock company with limited liabilities under the Company Law of the People's Republic of China on November 5, 1999, as part of the restructuring of CNPC. In the... restructuring, CNPC injected into PetroChina most of the assets and liabilities of CNPC relating to its exploration and production, refining and marketing, chemicals and natural gas businesses. Although PetroChina is the most profitable company in Asia, this success may be the result of corporate management, but can also be attributed to the near duopoly on the wholesale and retail business of oil products it shares with Sinopec in China.
more
| NYSE symbol: | PTR |
| Founded: | 1999 |
| Headquarters: | Beijing, China |
| Employees: | 446,290 |
| Industries: | Petroleum, Natural gas |