September 21, 2014 10:29 PM ET

Oil, Gas and Consumable Fuels

Company Overview of China National Petroleum Corporation

Company Overview

China National Petroleum Corporation, an integrated energy company, produces and supplies oil and gas. The company is engaged in the hydrocarbon exploration and production operations in onshore and offshore areas in the People's Republic of China, as well as in Africa, Central Asia-Russia, South America, the Middle East, and the Asia-Pacific. It also owns and operates pipeline networks and storage systems covering 29 provinces, municipalities, and autonomous regions, as well as Hong Kong SAR. The company operates a pipeline network of 72,878 kilometers, including 17,640 kilometers for crude oil, 45,704 kilometers for natural gas, and 9,534 kilometers of pipeline for refined products; and 20,...

9 Dongzhimen North Street

Dongcheng District

Beijing,  100007

China

Founded in 1955

Phone:

86 10 6209 4114

Fax:

86 10 6209 4205

Key Executives for China National Petroleum Corporation

President and Director
Age: 52
Chief Financial Officer
Chief Safety Officer and Vice President
Age: 54
Chief of Discipline & Inspection Group
Age: 57
Vice President
Age: 52
Compensation as of Fiscal Year 2014.

China National Petroleum Corporation Key Developments

China National Petroleum Corporation Begins Operation at Phase II of Halfaya Project in Iraq

China National Petroleum Corporation announced that it has begun delivering crude oil from Phase II of its Halfaya project in Iraq. The second phase project, kicked off in April 2013, consists of a 272km-long transportation pipeline, a 5Mt/a crude processing center, pumping stations, and 43 wells to be drilled and completed. Currently, Halfaya Oilfield is producing at an average daily rate of over 200,000 barrels, with an annual capacity of 10 million tons. The second phase project marks another major achievement made by the consortium consisting of CNPC, Total and Petronas. Preliminary work of the third phase project is being done as planned. Crude output of the whole project is expected to reach 400,000 barrels per day by the end of 2016.

China National Petroleum Corporation and Mongolian Petroleum Authority Sign Memorandum of Understanding to Expand Cooperation in Petroleum Sector

China National Petroleum Corporation and Mongolian Petroleum Authority have signed a memorandum of understanding, to expand cooperation in the petroleum sector. According to the MoU, CNPC will step up its efforts in exploring and developing oil resources in Mongolia, carrying out feasibility study on building crude transportation facilities for the Tamsag project, fulfilling social responsibilities in project execution, cultivating talents for Mongolia's oil industry, and implementing programs that are in favor of the local development, environmental protection and people's living standards. On the other hand, the Mongolian side promises to maintain consistency in petroleum policies and provide full support for the cooperation between the two sides.

Rosneft May Divest Stake In Vankorneft And Others; CNPC May Acquire Stakes

Russia’s President, Vladimir Putin announced that OJSC OC Rosneft (LSE:ROSN) will divest a stake in the Vankor oilfield cluster (the Krasnoyarsk region, Siberia). China National Petroleum Corporation (CNPC) may reportedly acquire up to 10% in Vankorneft enterprise for about $1billion. Rosneft may also divest to CNCP 49% in the Taas-Yuryakh field (OOO TAAS-Yuryakh Neftegazdobycha) and a stake in Eastern Petrochemical Company (Cjsc Vostochnaya Neftechimicheskaya).

Recent Private Companies Transactions

Type
Date
Target
Merger/Acquisition
September 10, 2014
Rumaila Oilfield
Merger/Acquisition
August 4, 2014
China National Petroleum Corp., Some Natural Gas Pipeline Assets
 

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