Economy

Energy Companies

With China’s unquenchable thirst for energy the sector has grown dramatically in recent years. Justin Yifu Lin the chief of the China Centre for Economic Research at Beijing University claims that China uses 15% of the world’s energy. Sinopec is China’s largest producer and supplier of oil and petrochemical products and China’s second largest producer of crude oil. PetroChina supplies the country with natural gas and oil and according to the Forbes ranking is the largest publicly owned company in China. This page with provide you with company profiles for the largest energy firms in China.

PetroChina

According to the Forbes ranking, PetroChina is the largest publicly owned firm in China. The company was founded on 5 November 1999 as part of the restructuring of China National Petroleum Corporation, with the majority of the assets, as well as the liabilities, of CNPC being handed over to the new PetroChina company. The main roles of the company include processes concerned with the various stages of the production of natural gas and oil; transferring the raw product to a state where it can be used by the consumer; production and sale of chemical products.

Sinopec

Sinopec operates a vertically integrated company, operating along the length of the operation chain, from production to sales and marketing. It is China’s largest producer and supplier of oil and petrochemical products and also the country’s second largest crude oil producer.