PetroChina Net Worth is$294.7 B
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Company Name: PetroChina Company Limited
Company Logo: Image:Petrochina logo.svg
Company Type: Public company, PTR /
Foundation: 1999
Location: Dongcheng District, Beijing, Beijing, China
Area Served: China
Key People: Jiang Jiemin, (Chief Executive Officer)
Industry: List of petroleum companies
Products: Fuels, lubricants, natural gas and other petrochemicals
Revenue: link
Operating Income: 1.821 trillion (2011) Net Income: 132.9 billion (2011) Assets: 1.917 trillion (2011) Equity: 1.002 trillion (2011) Num Employees: 552,810 (2011) Parent: China National Petroleum Corporation
Homepage: []
PetroChina Company Limited (Simplified Chinese: a,-a? 1/2 c??ae??a?(C)c??ae??e??a>> 1/2 ae??e??a??a?,), (Traditional Chinese: a,-a??c??ae??a?(C)c??ae??e??a>> 1/2 ae??e??a??a?,) (SEHK: 0857, SSE: 601857, NYSE: PTR) is a Chinese oil and gas company and is the listed arm of state-owned China National Petroleum Corporation (CNPC), headquartered in Dongcheng District, Beijing. It is China's biggest oil producer. Traded in Hong Kong and New York, the mainland enterprise announced its plans to issue stock in Shanghai in November 2007, and subsequently entered trading on the Shanghai index.
Richard McGregor, author of The Party: The Secret World of China's Communist Rulers, said that PetroChina is "is best described as the ExxonMobil of China, a big, bad oil company with an aggressive corporate swagger, tight political and military connections and a couldn't-care-less attitude about the views of others."
PetroChina was established as a joint stock company with limited liabilities under the Company Law of the People's Republic of China (the PRC) on November 5, 1999, as part of the restructuring of CNPC. In the restructuring, CNPC injected into PetroChina most of the assets and liabilities of CNPC relating to its exploration and production, refining and marketing, chemicals and natural gas businesses.
Although PetroChina is the most profitable company in Asia, this success may be the result of corporate management, but can also be attributed to the near duopoly on the wholesale and retail business of oil products it shares with Sinopec in China.
Because of Sinopec's link to Sudan through parent company China Petrochemical Corporation, several institutional investors such as Harvard and Yale decided, in 2005, to divest from Sinopec. Sudan divestment efforts have continued to be concentrated on PetroChina since then.Fidelity Investments, after pressure from activist groups, also announced in a filing in the US that it had sold 91 per cent of its American Depositary

PetroChina Latest News

PetroChina Said to Mull Raising Gas Prices as NDRC Urges Supply

PetroChina Co. is considering raising non-residential natural gas prices, while China’s top economic planner has urged major suppliers to raise output, as the country seeks to avoid shortages during the peak winter season. The country’s biggest gas ...
Posted: October 20, 2016, 4:01 am

Rating Summary: Is Macquarie Very Negative For PetroChina Company Limited (NYSE:PTR) After Its Downgrade?

Trading of PetroChina Company Limited (NYSE:PTR)‘s shares is going to be interesting today. Macquarie lowered the stock from a “Outperform” to a “Neutral”. Out of 7 analysts covering PetroChina Company Limited (NYSE:PTR), 3 rate it a “Buy”, 3 ...
Posted: October 21, 2016, 1:00 am

PetroChina Company Limited (ADR) (NYSE:PTR) has been downgraded to Neutral in a statement by Macquarie earlier today.

Boasting a price of $71.02, PetroChina Company Limited (ADR) (NYSE:PTR) traded -0.53% lower on the day. With the last stock price close up 4.18% from the two hundred day average, compared with the S&P 500 Index which has decreased -0.01% over the date range.
Posted: October 21, 2016, 9:51 am
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