China National Petroleum Corporation (CNPC) Closed Now

China National Petroleum Corporation (CNPC), founded in 1988, is China’s largest integrated energy group and a globally significant oil and gas company, headquartered in Beijing’s Dongcheng District. As a major state-owned enterprise, CNPC oversees upstream, midstream, and downstream operations—exploration, production, refining, petrochemicals, and marketing. It operates internationally through its subsidiary PetroChina and a joint venture CNODC, with presence across more than 120 countries and oil projects spanning the Belt and Road corridor NenPower+2More+2Wikipedia+2.

In 2024, CNPC reported operating revenues around CN¥2.94 trillion (~US $436–483 billion depending on exchange rates) with net profit of CN¥164.68 billion, representing sustained profitability despite a slight year-on-year revenue decline (~2.5%) due to softer crude prices plastmatch.com. CNPC has maintained an annual oil and gas output exceeding 100 million tons since 2019, and continues to invest heavily in upstream deep and ultra-deep drilling—including record wells in Tarim Basin—as part of its drive to support national energy security wsj.com+2reuters.com+2NenPower+2.

Technology and sustainability are core to CNPC’s strategy. The company is advancing carbon capture, utilization, and storage (CCUS), low-carbon operations, and smart-energy integration. Its “Carbon Circular Economy Pioneer Action” emphasizes deep electrification, water and methane reduction, and recycled resource treatment. CNPC is positioning itself for future energy markets via hydrogen, wind power, and new energy technology investments, targeting net-zero emissions by 2050 alongside Sinopec thesiliconreview.com+1csis.org+1.

In collaboration with partners such as Huadian Era, CNPC is accelerating EV infrastructure deployment and clean energy integration, aiming to expand fast-charging stations and develop renewable-powered transport solutions to support China’s 2035–2060 energy transition roadmap NenPower.

Looking ahead, CNPC’s strategic priorities include deepening overseas energy cooperation, digital transformation of production (AI, IoT, smart oil), expansion in renewable and hydrogen energy, and strengthening its role in global energy governance initiatives NenPowerplastmatch.comcsis.org.