China Petroleum Engineering and Construction Corporation
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CNPC headquarters
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| State-owned enterprise | |
| Industry | Oil and gas |
| Founded | 1988 |
| Headquarters | Dongcheng District, Beijing, China |
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Key people
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Wang Yilin (Chairman) Vacant (President) |
| Products | Petroleum, natural gas, and other petrochemicals |
| Profit |
 CN¥44.560 billion (2015) |
| Total assets |
 CN¥4.034098 trillion (2015) |
| Total equity |
CN¥2.079396 trillion (2015) |
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Number of employees
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1,636,532 (2014) |
| Parent | State-owned Assets Supervision and Administration Commission |
| Subsidiaries | PetroChina |
| Website | www |
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Footnotes / references in consolidated basis |
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China National Petroleum Corporation (CNPC) (simplified Chinese: 中国石油天然气集团公司; traditional Chinese: 中國石油天然氣集團公司; pinyin: Zhōngguó Shíyóu Tiānránqì Jítuán Gōngsī) is a Chinese state-owned oil and gas corporation and the largest integrated energy company in China. Its headquarters are in Dongcheng District, Beijing. CNPC was ranked the third in 2016 Fortune Global 500.
CNPC is the parent of PetroChina.
CNPC is the government-owned parent company of publicly listed PetroChina, which was created 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 hydrocarbon exploration and production, refining and marketing, chemicals and natural gas businesses. CNPC and PetroChina develop overseas assets through a joint venture, CNPC Exploration & Development Company (CNODC), which is 50% owned by PetroChina.
In March 2014, CNPC chairman Zhou Jiping announced that CNPC would be opening six business units to private investors.
Unlike Chinese Petroleum Corporation, which was relocated to Taiwan with the retreat of the Republic of China following the communist revolution, CNPC can be traced from the beginning as a governmental department of the Communist government of China. In 1949, the Chinese government formed a 'Fuel Industry Ministry' dedicated to the management of fuel. In January 1952 a division of the fuel ministry was formed to manage petroleum exploration and mining, called the 'Chief Petroleum Administration Bureau'. In July 1955 a new ministry was created to replace the Fuel Industry Ministry, called the Ministry of Petroleum. From 1955 to 1969, approximately 4 oil fields were found in 4 areas in Qinghai, Heilongjiang (Daqing oilfield), Bohai Bay and Songliao basin. CNPC was created on 17 September 1988, when the government decided to create a state-owned company to handle all Petroleum activities in China and disbanded the Ministry of Petroleum.
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