China National Petroleum Corporation (CNPC) is a
state-authorized investment agency and a state holding
company. As an integrated oil company of crossregions,
cross-industries and cross-countries, it adopts
modern enterprise system to realize the integration
of upstream and downstream operations, internal
and external trade and production and marketing.
CNPC has 17 upstream companies, 33 downstream
companies and 36 large-scale marketing companies. It
is China’s largest producer and supplier of oil and gas,
and also one of the largest refined oil products and
petrochemicals. In 2010 CNPC produced 105million
tons of crude oil and 72.5 billion cubic meters of
natural gas, while crude processing volume reached
135 million tons. The total revenue of RMB1,720 billion
with a profit of RMB172.7 billion had been achieved
the same year. Its profit is among the highest of the
domestic enterprises in China.