PetroChina Company Limited
Type	Public (SEHK: 0857, SSE: 601857, NYSE: PTR)
Founded	1999
Headquarters	Dongcheng, Beijing, People's Republic of China
Key people	Jiang Jiemin, Chairman Zhou Jiping, Deputy Chairman & CEO
Industry	Integrated oil and gas
Revenue	▲ $90. A public company usually refers to a company that is permitted to offer its registered securities ( Stock, bonds, etc The Hong Kong Stock Exchange ( also 港交所 abbreviated as HKEX;) is the Stock exchange of Hong Kong. The Shanghai Stock Exchange ( SSE) ( is a Chinese Stock exchange based in the city of Shanghai, with a Market capitalization The New York Stock Exchange ( NYSE) is a Stock exchange based in New York City. Year 1999 ( MCMXCIX) was a Common year starting on Friday (link will display full 1999 Gregorian calendar) Dongcheng District ( literally "East City Precinct" is a district in Beijing. Talk People's Republic of China) PEOPLE'S REPUBLIC OF CHINA ARTICLE GUIDELINES For other uses of this term see Industry (disambiguation An industry (from Latin industrius, "diligent industrious" Petroleum ( L petroleum, from Greek πετρέλαιον, lit Natural gas is a Gaseous Fossil fuel consisting primarily of Methane but including significant quantities of Ethane, Propane, In business revenue or revenues is Income that a company receives from its normal business activities usually from the sale of goods and services 4 billion USD 2006
Employees	~464,000 (2007)
Website	PetroChina

PetroChina Company, Limited (simplified Chinese: 中国石油天然气股份有限公司, traditional Chinese: 中國石油天然氣股份有限公司) (SEHK: 0857, SSE: 601857, NYSE: PTR) is a Chinese oil company and is the listed arm of state-owned China National Petroleum Corporation (CNPC), mainland China's biggest producer of oil. The United States dollar ( sign: $; code: USD) is the unit of Currency of the United States; it has also been Year 2006 ( MMVI) was a Common year starting on Sunday of the Gregorian calendar. Employment is a Contract between two parties, one being the employer and the other being the employee. Year 2007 ( MMVII) was a Common year starting on Monday of the Gregorian calendar in the 21st century. A website (alternatively web site or Web site, a back-construction from the Proper noun World Wide Web) is a collection of Web pages The Hong Kong Stock Exchange ( also 港交所 abbreviated as HKEX;) is the Stock exchange of Hong Kong. The Shanghai Stock Exchange ( SSE) ( is a Chinese Stock exchange based in the city of Shanghai, with a Market capitalization The New York Stock Exchange ( NYSE) is a Stock exchange based in New York City. China ( Wade-Giles ( Mandarin) Chung¹kuo² is a cultural region, an ancient Civilization, and depending on perspective a National The China National Petroleum Corporation (CNPC ( Simplified Chinese: 中国石油天然气集团公司 Traditional Chinese: 中國石油天然氣集團公司 Mainland China, Continental China, the Chinese mainland or simply the mainland, is a geopolitical term synonymous with the area that is under the jurisdiction ^[1]

Traded in Hong Kong and New York, the mainland enterprise announced its plans to issue stock in Shanghai in November 2007,^[1] and following its debut on the Shanghai index, its market value tripled. The Hong Kong Stock Exchange ( also 港交所 abbreviated as HKEX;) is the Stock exchange of Hong Kong. The New York Stock Exchange ( NYSE) is a Stock exchange based in New York City. The Shanghai Stock Exchange ( SSE) ( is a Chinese Stock exchange based in the city of Shanghai, with a Market capitalization The SSE Composite Index is an index of all stocks (A shares and B shares that are traded on the Shanghai Stock Exchange.

Contents 1 History 2 Environmental Record 2.1 Introduction 2.2 Major Chemical Spill 2.3 The "Western Gas to the East(西气东输）" Pipeline Project 2.4 Recent Demonstration on PetroChina's New Plant 3 Recognition 4 References 5 External links

History

PetroChina was established as a joint stock company with limited liabilities under the Company Law of the People's Republic of China (the PRC) on November 5, 1999, as part of the restructuring of CNPC. A joint stock company (JSC is a type of business entity it is a type of Corporation or Partnership. Talk People's Republic of China) PEOPLE'S REPUBLIC OF CHINA ARTICLE GUIDELINES Events 1499 - Publication of the Catholicon in Treguier ( Brittany) Year 1999 ( MCMXCIX) was a Common year starting on Friday (link will display full 1999 Gregorian calendar) 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. Hydrocarbon exploration (or oil and gas exploration) is the search by petroleum Geologists for Hydrocarbon deposits beneath the Earth's surface An oil refinery is an industrial Process plant where Crude oil is processed and refined into more useful Petroleum products, such as Gasoline Natural gas is a Gaseous Fossil fuel consisting primarily of Methane but including significant quantities of Ethane, Propane,

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. A true duopoly is a specific type of Oligopoly where only two producers exist in one Market. Sinopec, or the China Petroleum and Chemical Corporation (,) () is one of the major Petroleum companies in China.

Because of its link to Sudan through parent company CNPC, several institutional investors such as Harvard and Yale decided, in 2005, to divest from Sinopec. Sudan (officially the Republic of Sudan) ( السودان al-Sūdān is a country in northeastern Africa. Sudan divestment efforts have continued to be concentrated on PetroChina since then. ^[2] Fidelity Investments, after pressure from activist groups, also announced in a filing in the US that it had sold 91 per cent of its American Depositary Receipts in PetroChina in the first quarter of 2007. Fidelity Investments is a provider of investment products and services An American Depositary Receipt (or ADR represents the ownership in the shares of a foreign company trading on US financial markets Year 2007 ( MMVII) was a Common year starting on Monday of the Gregorian calendar in the 21st century. ^[3]

At the beginning of May 2007, the company announced it had made China's largest oil find in a decade off the country's northeast coast, in an oilfield named Jidong Nanpu in Bohai Bay. Bohai Bay ( is one of the three bays forming the Bohai Gulf, the innermost gulf of the Yellow Sea, in northeastern China. ^[4]

On November 7, 2007, Hang Seng Index Services Company announced that PetroChina would have been Hang Seng Index Constituent Stock since December 10, 2007. ^[5] PetroChina has also come under scrutiny from international organizations for its part in trading with the Sudanese government who continues the ongoing genocide in Darfur. Darfur (دار فور daar foor, lit "realm of the Fur " is a region in Sudan.

Environmental Record

Introduction

Although PetroChina is promoting safety, environmental protection and people-orientation as its slogan and is determined to encourage efficiency in utilization of resource as well as effective operation of the Health, Safety and Environment (HSE) management system as a method to reduce emission of pollutants,^[6] environmental-related news about PetroChina has been often negative.

Major Chemical Spill

Petrochina had a huge chemical spill in November, 2005. PetroChina Company Limited () (,) is a Chinese oil company and is the listed arm of state-owned China National Petroleum Corporation (CNPC Mainland One of its chemical plants exploded in Jilin, China. The blast poured 100 tons of benzene, which is a carcinogen and highly toxic, into the Songhua River. There was a slick of chemicals that spanned 80km. ^[7] Harbin, which is another city along the Songhua River, had to cut the water supply from almost 4 million people, for 5 days. More than 60 people have been injured, one person is missing, and five have died, due to this incident. ^[8] The spill prompted China’s environmental agency to fine the company one million yuan (approximately $125,000, £64,000) for its pollution, which is the maximum fine that can be handed out in China for breaking an environmental law. ^[9] However, this disaster has now sparked controversy about this law. People are claiming it is too soft. ^[10] The spill even crept into Kharbosvk, Russia, where residents stocked up on bottled water. The city tried filtering its water of toxic substances, but officials were still unsure if the water was 100% safe for drinking. ^[11] The Chinese government has said it will take more than one billion dollars to clean up the aftermath. ^[12] Li Zhaoxing, Chinese Foreign Minister at the time, issued a public apology to Russia due to the incident. ^[13]

The "Western Gas to the East(西气东输）" Pipeline Project

Another major controversial issue is PetroChina’s development in gas reserves in Tarim Basins, Tibet. It is now constructing a pipeline across Tibet to Gansu province in China, eventually lead to Shanghai. It is argued that such a project might pose a threat to the environment, as the construction of the pipeline might affect the wildlife in the regions where it runs through. Also, the exiled Tibetan government argued that such project is part of China’s strategy to consolidate political control of the Western Regions in China, including Tibet. However, no known environmental or social impact assessments have been conducted, as the environmental record of Tarim Basins is very poor. ^[14]

Recent Demonstration on PetroChina's New Plant

Approved in 2007, a $5. 5 billion petrochemical plant, expected to produce 800,000 tons of ethylene and refine 10 million tons of crude oil a year, is now under construction by PetroChina in Chengdu, provincial capitol of Sichuan in Southwestern China. Ethylene is widely used in the production of goods such as packaging and trash liners. Although the project claimed that $565 million of the total investment would be dedicated to environmental protection, residents of Chengdu who believe it might bring pollution to the local area took to the streets on May 3 and 4, 2008, to protest against the project. The whole demonstration was peaceful, and presence of Chinese government's intervention was scarce. ^[15]

Recognition

• Forbes published its latest ranking of the “Forbes 2000 The World’s Leading Companies”. Forbes is an American Publishing and media company Its flagship publication Forbes magazine is published bi-weekly The company ranked first amongst companies in China and ranked 55 worldwide.
• The Company won a series of awards in the competition organised by FinanceAsia, an influential magazine in Asia Pacific capital markets. The Company won the following awards:
  • Best Dividend Payout Policy, 1st
  • Best Corporate Governance, 5th
  • Best Investor Relations, 5th
• AsiaMoney’s 2004 “Annual Best-Managed Large Companies Poll”, the Company was awarded the “Overall Best-Managed Large Cap Company” and “Overall Most Improved Company for Best-Management Practices” Awards. Dividends are payments made by a Corporation to its Shareholder members Corporate governance is the set of Processes customs Policies, laws and institutions affecting the way a Corporation is directed administered or controlled

References

• 2004 Annual Report, pp. 135, 137[1]

External links

• Official website
• Petrochina stock quote Google Finance

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