Chinese Petroleum Corporation
China is one country that has great hunger for petroleum products, with high population, petroleum products are of great demand in China, Oil is noted to be a key component for any economy, this true for China too, industries need fuel to run machines, the workforce, this is the population relies on fuel for transport.
China National Petroleum Corporation is a government owned institution charged with the exploration, extraction and production of hydrocarbon, for the purpose of processing petroleum related products. The China National Petroleum was founded in 1988, its main headquarters are in Beijing, China.
The China Petroleum cooperation has operation in more than 27 countries globally, operations are headed by Jiang jiemin who acting capacity is that of president of the cooperation, then there is Wang Guoliang, who acts as the Chief Financial Officer, this companies interest and area of business are widely in the oil and gas exploration, the company has a number of refining companies around China. Petroleum by products from China Petroleum Cooperation are, oil, Natural Gas, petrochemicals, the company also offers oil explorations services and equipments.
The company's revenues are in excess of 112 billion dollars, the net income reported to be in excess of 14 billion dollars. The china Petroleum cooperation is known to have the most employees in China, its staff total to a staggering one million, eighty six thousand, nine hundred and sixty six, (1,086,966).
China National Petroleum Cooperation is reported to be holding reserves of more than 4 billion barrels of oil, the company is said to have produced 56 billion cubics meters of natural gas, it has a separate company, or a subsidiary and that is the Petrochina, Petrochina is listed in the Chinese stock exchange.
Being a state owned company, this company enjoys a monopolistic kind of an advantage in the Chinese market, its reported that most oil and petroleum products are supplied from this company, the impact may not be fair to other players, however, the Chinese population is very big, every company the field has a sure market niche of itself. However competition will exist in any market, with the Chinese things are a bit better, reason are attribute much to China's industrialization and rapid economy growth.
As earlier mentioned, China National Petroleum Corporation has operations offshore, most countries it has majorly invested on are Canada, Sudan, Thailand,Oman,Vanezeula. More information can be gathered from their website.
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