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Its headquarters are in Dongcheng District, Beijing. In the restructuring, CNPC injected into PetroChina most of the assets and liabilities of CNPC relating to its hydrocarbon exploration and production, refining and marketing, chemicals and natural gas businesses. Unlike Chinese Petroleum Corporation , which was relocated to Taiwan with the retreat of the Republic of China following the communist revolution, CNPC can be traced from the beginning as a governmental department of the Communist government of China.
In , the Chinese government formed a 'Fuel Industry Ministry' dedicated to the management of fuel. In January a division of the fuel ministry was formed to manage petroleum exploration and mining, called the 'Chief Petroleum Administration Bureau'. From to , approximately 4 oil fields were found in 4 areas in Qinghai , Heilongjiang Daqing oilfield , Bohai Bay and Songliao basin. CNPC was created on 17 September , when the government decided to create a state-owned company to handle all Petroleum activities in China and disbanded the Ministry of Petroleum.
CNPC's international operations began in The acquisition went through on 26 October after a Canadian court turned down an attempt by LUKoil to block the sale.
In July , the government restructured the company in accordance with the upstream and downstream principle of the oil industry. In June , the "head of a key China National Petroleum subsidiary was recalled to Beijing" and fell "from public view". CNPC holds proven reserves of 3. In , CNPC produced 54 billion cubic metres of natural gas. In March , CNPC began development of Ahdab, an oil field in Wasit Governorate holding a modest one billion barrels, becoming "the first significant foreign investors" in Iraq.
Dozens of farmers complained of damage to property because of work on the site and Iraqi oil officials claimed thievery from the oil site by local farmers. CNPC became increasingly involved in development of Iranian oil fields following Western sanctions that targeted the Iranian oil and gas sectors leading many European energy companies such as Shell Oil , Repsol , etc.
The combined entity was a notable instance of cooperation between two state oil firms that regularly competed for assets around the world. CNPC is heavily involved in the development of Kazakh oil after the acquisition of Alberta-based PetroKazakhstan , a company with all operations in Kazakhstan.
In December , Afghanistan signed a deal with CNPC for the development of oil blocks in the Amu Darya basin, a project expected to earn billions of dollars over two decades; the deal covers drilling and a refinery in the northern provinces of Sar-e Pol and Faryab and is the first international oil production agreement entered into by the Afghan government for several decades.
The company is major stockholder in Petrodar consortiums. The agreement was signed at a summit in Shanghai and is expected to deliver some 38 billion cubic meters of natural gas a year, starting around , to China 's burgeoning economy. Its next drilling project commenced August for Tag Oil with one well successfully drilled at Cheal C of a depth of just under 5,m. The rig was then stood down pending appeals for the next stage of a drilling campaign for Tag Oil in March Due to the periods involved it was decided to end its drilling campaign in New Zealand.
Rig 43 was then dismantled and shipped to other overseas locations and no longer operates in New Zealand. In , there were explosions at a CNPC owned petrochemical plant causing six deaths, a mass evacuation, and a massive oil spill over the Songhua River.
Reportedly, nine were killed and nearly 40 injured. In July , two pipelines exploded at an oil storage depot belonging to China National Petroleum Corp near Dalian's Xingang Harbour in Liaoning province which spilled an estimated 1, tonnes of crude into the sea. From Wikipedia, the free encyclopedia.
This article is about the state-owned enterprise in Mainland China. Yellow River oil spill. Xingang Port oil spill. China portal Energy portal Companies portal. China National Petroleum Corporation" , Fortune. We work together with one common vision: Through partnership, innovation and a relentless focus on high performance and efficiency, we maximize the value of energy resources.
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