Yanchang Petroleum International Limited is a Hong Kong-based energy company primarily engaged in the exploration, exploitation, and production of oil and gas, as well as fuel oil trading and distribution. The company operates upstream oilfields in Saskatchewan and Alberta, Canada, through its wholly owned subsidiary Novus Energy Inc., which focuses on acquiring, exploring, developing, and producing crude oil and natural gas. Its downstream operations include wholesale, retail, storage, and transportation of oil products in China via its 70% owned subsidiary Henan Yanchang Petroleum Sales Co., Limited, which holds valid licenses for oil product distribution and sales. The company’s product portfolio encompasses crude oil, natural gas, fuel oil, petrochemical products, and related by-products, serving markets in China, Canada, and internationally.
Founded as a subsidiary under the larger Shaanxi Yanchang Petroleum Group, Yanchang Petroleum International leverages advanced technologies for enhanced oil recovery and reservoir management, including horizontal well fracturing and intelligent oil recovery methods. In 2024, the company recorded revenue of HK$29.18 billion and a net profit of HK$55.6 million, reflecting resilience amid volatile international oil prices and geopolitical risks. The upstream subsidiary Novus maintained production targets, expanding reserves and successfully drilling and operating new wells, while the downstream subsidiary expanded market reach with new major customers and strengthened partnerships with key state and private enterprises in China.
Recent major developments include active market expansion in downstream trading and fuel oil distribution across the Yangtze River region and strategic sourcing diversification to procure non-Russian crude oil amid geopolitical uncertainties. The company also continues investing in technological innovation and digital tools to improve operational efficiency and risk management across its entire oil and gas value chain. Yanchang Petroleum International remains focused on consolidating its upstream fundamentals and fostering new growth drivers, positioning itself as a sustainable player in the global energy sector. The company maintains headquarters in Hong Kong and operates through subsidiaries in China and Canada, reflecting a strategic integration of domestic and international energy assets.