China National Petroleum Corporation is one of the world’s largest oil and gas companies and plays a leading role in China’s oil industry. As the parent company of PetroChina, CNPC is also one of China’s largest state-owned enterprises. CNPC integrates the business portfolios of an oil company and an oilfield services provider, with operations that cover the entire value chain of the oil and gas industry. With oil and gas assets and interests in more than 30 countries, CNPC plays an increasingly important role in the global oil and gas industry.
PetroChina Company Limited (PetroChina)
PetroChina is the publicly traded arm of CNPC. As of December 31, 2020, PetroChina is 80.25% controlled by CNPC. PetroChina is China’s largest oil and gas producer and distributor, contributing approximately 50% and 60% of China’s domestic oil and gas production volume, respectively.
PetroChina International Co., Ltd. (PCI)
PetroChina International Co., Ltd. (PCI) is a wholly owned subsidiary of PetroChina. As the international trading arm of PetroChina, PCI is responsible for global commodity trading, the development of overseas oil and gas integrated operations centers comprising refining, storage, logistics and sales and marketing capabilities, as well as the management of oil terminals and storage facilities in major international hubs in China. commercial ports. With more than 40 subsidiaries and branches in more than 20 countries, PCI has commercial coverage in all key financial centers and oil and gas trading centers around the world.
PetroChina International (London) Co., Ltd
Founded in April 2002, PetroChina International London (PCIL) is a wholly owned subsidiary of PetroChina International. PCIL has its business origin in the trading of crude oil and petroleum products, focusing mainly on the European and African markets.
In 2007, as part of PetroChina’s globalization strategy, London was selected as a base to build the PetroChina European Oil and Gas Operations Center, one of three overseas PetroChina operations centers that serve as major hubs. regional nerve centers of the group that support PetroChina’s extensive global network.
In 2011, PCIL and INEOS created the Petroineos joint venture when PCIL invested $1 billion in INEOS’s refining business in Europe. Through the joint venture, PCIL gained joint ownership of the Grangemouth and Lavera refineries and control rights to build a trading and wholesale business to support the commercial operations of the refineries.
Shortly after the establishment of the joint venture, PCIL’s trading operations for trading crude oil and petroleum products were transferred to Petroineos Trading Limited (“PITL”) and together these entities have successfully built an integrated European trading centre. of oil and gas with extensive trading, refining and storage, transportation and storage capabilities. While the Petroineos joint venture has developed and expanded its operations which today cover crude oil trading, petroleum products trading, energy and emissions trading, oil refining, storage and transportation, PCIL trading activities They have focused on the trade of LNG and natural gas. Together, PCIL and the Petroineos joint venture have geographical coverage of more than 90 countries.
PCIL Companies
LNG
Since 2015, PCIL’s LNG marketing business has established a strong presence in this fast-growing market, delivering 3 million tonnes in 2018.
For PCIL, LNG trading is a growing business taking advantage of rapid growth in demand from China. The London trading desk, benefiting from PetroChina’s extensive global upstream portfolio and strong credit rating, can offer innovative and competitive financing structures, with unparalleled business flexibility and unique competitive advantages
Natural gas
The natural gas business is an important part of PetroChina’s long-term growth strategy. PCIL has been listed on the European physical and financial gas markets since 2013.
With an extensive gas storage portfolio in Europe as well as a downstream customer base, PCIL’s natural gas desk is well positioned to develop dynamic trade optimization solutions. The desk works closely with Petroineos refineries and external customers to offer supply contracts adapted to customer needs.