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BullsOil.com  World Giants  >  Petrochina
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PetroChina Company, Limited  (SEHK: 0857, SSE: 601857, NYSE: PTR) is a Chinese oil company and is the listed arm of state-owned China National Petroleum Corporation (CNPC), mainland China's biggest producer of oil.

Traded in Hong Kong and New York, the mainland enterprise announced its plans to issue stock in Shanghai in November 2007, and following its debut on the Shanghai index, its market value tripled.

PetroChina was established as a joint stock company with limited liabilities under the Company Law of the People's Republic of China (the PRC) 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 exploration and production, refining and marketing, chemicals and natural gas businesses.

Although PetroChina is the most profitable company in Asia, this success may be the result of corporate management, but can also be attributed to the near duopoly on the wholesale and retail business of oil products it shares with Sinopec in China.

Because of its link to Sudan through parent company CNPC, several institutional investors such as Harvard and Yale decided, in 2005, to divest from Sinopec. Sudan divestment efforts have continued to be concentrated on PetroChina since then.[2] Fidelity Investments, after pressure from activist groups, also announced in a filing in the US that it had sold 91 per cent of its American Depositary Receipts in PetroChina in the first quarter of 2007.
Type Public (SEHK: 0857, SSE: 601857, NYSE: PTR)
Founded 1999
Headquarters Dongcheng, Beijing, People's Republic of China
Key people Jiang Jiemin, Chairman
Zhou Jiping, Deputy Chairman & CEO
Industry Integrated oil and gas
Revenue ? $90.4 billion USD 2006
Employees ~464,000 (2007)
Website PetroChina