PetroChina
The largest Chinese oil company PetroChina (Chinese中国 石油 天然气 股份有限公司) is a net over 18,000 filling stations one of the largest listed companies in the world.
Overview
The oil giant is a subsidiary of state-owned China National Petroleum Corp.. ( CNPC ). Shareholders were on 31 December 2011, CNPC 86.35 %, HKSCC Nominees Limited 11.37%, National Council of Social Security Fund ( NSSF ) 0.22 %, other 2.06%. The proportion of shares in free float amounted to 13.65%.
PetroChina had invested five billion U.S. dollars abroad by 2007, half of them in Sudan. Near the Sudanese capital Khartoum was built a 1600 km long pipeline to the Red Sea and a refinery with a capacity of 2.5 million tons. Beijing is the leading foreign investor in Sudan. The African country delivered an estimated eight percent of China's oil imports.
PetroChina is for this reason, the target of numerous influential human rights groups in the U.S., which - with Disvestitionskampagnen pushing on the trigger of American capital - in the context of the Darfur conflict. The independence of South Sudan, however, has changed the situation fundamentally. In South Sudan store about two-thirds of oil reserves. Because of disputes about high transit fees South Sudan from boycott had set export months. The situation is tense and it would be difficult to do business at the same time for PetroChina both in Sudan and in Southern Sudan.
History
On November 13, 2005, there were in the chemical factory no. 110 was the PetroChina subsidiary Jilin Petroleum and Chemical Company contaminated a chemical accident, causing the factory exploded and the Songhua Jiang. As the river serves as the basis of the drinking water supply in the region, the water supply had to be partially interrupted. This is something the city of Harbin was affected.
With the IPO in Shanghai on November 5, 2007 PetroChina reached a market capitalization of one billion U.S. dollars and has been measured by market value at the largest companies in the world. In April 2008, the stock price, however, was dropped again below the issue price of 16.70 yuan, and the market capitalization of PetroChina was down to $ 397.4 billion, which the U.S. company Exxon Mobil regained its position as the world 's largest company. PetroChina achieved for several years high profits and therefore regularly consulted by market capitalization, according to the Financial Times Global 500 list of the most valuable companies in the world.
Expansion plans
End of May 2009, the company announced 45.51 percent of all shares of Singapore Petroleum ( SPC) of Keppel at the price of 6.25 SGD per share intend to purchase. The price was SGD 1.47 billion. Since September 2009, PetroChina holds over 50 percent of all rights to SPC.
In August 2010, the Group President Zhou Jiping announced greatly expand the business abroad. There stood also collaborations with BP and Conoco Phillips in negotiation.
As a result of state control margins for gasoline products in international comparison are weak in China and the demand could fall by measures against overheating of the economy. But PetroChina benefited in the second quarter of 2010 from the higher price of oil, so that the profit increased to € 3.8 billion. ( Source as above ).
Competitors
- Sinopec