The China National Petroleum Corporation
The China National Petroleum Corporation (CNPC) is a wholly State-owned corporation authorised by the State to make investments in petroleum and natural gas resources and related industries. CNPC is engaged in upstream and downstream operations, import and export transactions, and production and marketing activities. Its business activities range across a number of industries throughout China and the methods of investment take a number of forms, which give it a diversified range of ownership. Its businesses include: oil and gas exploration and development, petrochemical production, petroleum trade, and servicing of petroleum-related projects. CNPC has abundant reserves of oil and natural gas and considerable experience in the exploration and development of oil and natural gas resources.

CNPC is structured along modern enterprise lines. In 1999, CNPC reorganised its assets and restructured its business. As part of this restructuring, CNPC established the PetroChina Company Limited. CNPC has become Petrochina's parent company and it transferred to Petrochina most of the assets, liabilities and interests of CNPC relating to CNPC's domestic exploration and production, refining and marketing, chemicals and natural gas business. CNPC retained the assets and liabilities relating to its remaining business and operations, including assets and liabilities relating to international crude oil and natural gas exploration and production and refining and pipeline operations. CNPC is Petrochina's primary provider of a wide range of services and products. Another feature of this reorganisation is the partial privatisation of Petrochina. Global companies can become joint equity owners in PetroChina, with CNPC retaining majority ownership.
Website: http://www.cnpc.com.cn