CNPC undertakes string of petroleum projects

29 Nov '07

2 min read

In the list of world's leading integrated energy companies, China National Petroleum Corporation (CNPC) ranks very high. It has earned itself the reputation for covering a wide range of oil and gas operations, while it also simultaneously engages itself in field engineering and technical services, petrochemical products, equipment manufacturing and sales.

Over the years CNPC has indulged into several projects with companies and countries across the world. However, some of its latest involvements include collaboration with a Russian company, Rosneft, to come up with an oil refinery in Tianjin, Northern China.

This joint venture enterprise is expected to produce 10 million tons of oil every year. As yet, the project has not got an approval from the National Development and Reform Commission of China yet.

Besides, China Textile Industrial Engineering Institute (CTIEI), has been recognized by China National Petroleum Corporation (CNPC), as its wholly owned subsidiary unit. The incorporation is believed to help the giant company strengthen its chemical technologies, increase the value of its downstream products, expand its industrial chain and encourage its potential in developing chemical fiber and textile industries.

This apart, CNPC also has plans to expand its oil and gas production capacity with the help of its cooperative projects in Indonesia. Having overseas project in nearly 25 countries, CNPC's crude oil output rose to 54.6 million tonsin 2006.

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