PetroChina Company Limited
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- Business
- PetroChina Company Limited engages in the exploration, development, production, transportation, and marketing of crude oil and natural gas; refining of crude oil into petroleum products; production and sale of primary petrochemicals, derivative petrochemicals, other chemicals, and new materials; marketing and trading of refined products and non-oil products; and transmission and sales of natural gas, with operations spanning Mainland China and international markets. The company, founded in 1999 and headquartered at No. 9 Dongzhimen North Street, Dongcheng District, Beijing, China, operates through segments including Oil, Gas and New Energy Resources; Refining, Chemicals and New Materials; Sales; and Natural Gas Sales, serving domestic and global customers in the integrated oil and gas sector as a subsidiary of China National Petroleum Corporation. Recent developments include approval in 2025 to acquire three natural gas storage facilities—Xinjiang Gas Storage, Xiangguosi Gas Storage, and Liaohe Gas Storage—from its parent CNPC for approximately $5.6 billion to boost working gas capacity by 10.97 billion cubic meters and enhance natural gas industry chain efficiency; commencement of a $9.56 billion northeast refinery complex in Dalian following the closure of its prior Dalian refinery unit by mid-2025; a July 2025 contract with Aodeyuan for a next-generation alkaline electrolysis green hydrogen project in Shenzhen; strategic partnerships such as a November 2024 MoU with Petronas on LNG, specialty chemicals, green hydrogen, and CCUS; and a 2024 investment of US$839 million to acquire CNPC Electric Energy to support green energy initiatives including renewable power for hydrogen production.
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