China's biggest crude oil companies are state-owned energy conglomerates with sprawling international operations in oil and gas exploration and production; petroleum and chemical processing; storage and transportation; and many other functions along the oil and gas supply chain. This list includes the top five Chinese producers of crude oil by volume, ranked according to gross revenues reported in 2014 consolidated financial statements.
China Petroleum & Chemical Corp.
China Petroleum and Chemical Corp. (NYSE: SNP), known as Sinopec, is an oil, gas and chemical giant with more than $440 billion in consolidated revenue. The company produced nearly 361 million barrels of crude oil in 2014. Domestic oil production amounted to roughly 311 million barrels, while production from overseas oil fields amounted to about 50 million barrels. Sinopec takes the top spot in this list on the basis of its consolidated revenue, but it is China's second-biggest crude oil producer by volume.
Sinopec maintains vast operations along the full length of the oil supply chain, from exploration and drilling to retail sales at more than 30,000 gasoline service stations. Sinopec was established in 1998 after the reorganization of its predecessor company, China Petrochemical Corporation. Sinopec issued shares on the Hong Kong Stock Exchange in 2000. It has since been listed on the Shanghai Stock Exchange and the New York Stock Exchange.
China National Petroleum Corporation
China National Petroleum Corporation, or CNPC, is the second-biggest Chinese crude oil producer by consolidated revenue and the biggest by production volume. In 2014, the company reported more than $425 billion in consolidated revenue and production of nearly 1.2 billion barrels of crude oil. Domestic crude oil production amounted to about 830 million barrels, while overseas production topped 368 million barrels.
Like Sinopec, CNPC operates businesses along the full length of the oil supply chain, from initial exploration to retail. Most CNPC operations are organized under a subsidiary company, PetroChina. PetroChina was established in 1999 and listed on the New York Stock Exchange and the Hong Kong Stock Exchange in 2000. It was listed on the Shanghai Stock Exchange in 2007.
China National Offshore Oil Corporation
China National Offshore Oil Corporation, known as CNOOC, was established in 1982 to focus on oil and gas exploration and production in China's offshore waters. It has since developed into an international company with operations in more than 40 countries. CNOOC posted more than $95 billion in consolidated revenue in 2014. Crude oil production topped 501 million barrels, with more than 289 million barrels from domestic oil fields and 212 million barrels originating overseas.
In addition to oil and gas exploration and production, CNOOC is also engaged in refining, power generation, retail marketing, and engineering and technical services. Most of the company's primary operations are organized under its subsidiary, CNOOC Limited. CNOOC Limited was established in 1999 and listed on the New York Stock Exchange and the Hong Kong Stock Exchange in 2001.
Sinochem Group
Sinochem Group was established in 1950 during the reorganization of China's largest international trading firm, China National Chemicals Import & Export Corporation. Sinochem Group remains the largest chemical company in the country but has expanded its operations to include energy, real estate, agriculture and financial services.
Sinochem Group reported consolidated revenue of more than $77 billion dollars in 2014. It began serious development of its oil and gas business in 2003 and has since acquired rights to 39 blocks of oil and gas reserves in 11 countries. It reported production of more than 25 million barrels of oil, making it China's fifth largest crude oil producer by volume. Sinochem Group owns more than 300 subsidies. Three subsidiaries, Sinochem International, Franshion Properties and Sinofert, are listed on the Shanghai Stock Exchange.
Yanchang Petroleum
Yanchang Petroleum traces its history to 1905 and the first oil enterprise established in China, the Yanchang Oil Plant. The company engages in oil and gas exploration and production and refining operations in locations around the world. It reported consolidated revenue of nearly $2.9 billion in 2014. Crude oil production amounted to more than 91.5 million barrels. Most of Yanchang Petroleum's primary operations are organized under its subsidiary Yanchang Petroleum International Limited, which is listed on the Hong Kong Stock Exchange.
China Petroleum & Chemical Corp.
China Petroleum and Chemical Corp. (NYSE: SNP), known as Sinopec, is an oil, gas and chemical giant with more than $440 billion in consolidated revenue. The company produced nearly 361 million barrels of crude oil in 2014. Domestic oil production amounted to roughly 311 million barrels, while production from overseas oil fields amounted to about 50 million barrels. Sinopec takes the top spot in this list on the basis of its consolidated revenue, but it is China's second-biggest crude oil producer by volume.
Sinopec maintains vast operations along the full length of the oil supply chain, from exploration and drilling to retail sales at more than 30,000 gasoline service stations. Sinopec was established in 1998 after the reorganization of its predecessor company, China Petrochemical Corporation. Sinopec issued shares on the Hong Kong Stock Exchange in 2000. It has since been listed on the Shanghai Stock Exchange and the New York Stock Exchange.
China National Petroleum Corporation
China National Petroleum Corporation, or CNPC, is the second-biggest Chinese crude oil producer by consolidated revenue and the biggest by production volume. In 2014, the company reported more than $425 billion in consolidated revenue and production of nearly 1.2 billion barrels of crude oil. Domestic crude oil production amounted to about 830 million barrels, while overseas production topped 368 million barrels.
Like Sinopec, CNPC operates businesses along the full length of the oil supply chain, from initial exploration to retail. Most CNPC operations are organized under a subsidiary company, PetroChina. PetroChina was established in 1999 and listed on the New York Stock Exchange and the Hong Kong Stock Exchange in 2000. It was listed on the Shanghai Stock Exchange in 2007.
China National Offshore Oil Corporation
China National Offshore Oil Corporation, known as CNOOC, was established in 1982 to focus on oil and gas exploration and production in China's offshore waters. It has since developed into an international company with operations in more than 40 countries. CNOOC posted more than $95 billion in consolidated revenue in 2014. Crude oil production topped 501 million barrels, with more than 289 million barrels from domestic oil fields and 212 million barrels originating overseas.
In addition to oil and gas exploration and production, CNOOC is also engaged in refining, power generation, retail marketing, and engineering and technical services. Most of the company's primary operations are organized under its subsidiary, CNOOC Limited. CNOOC Limited was established in 1999 and listed on the New York Stock Exchange and the Hong Kong Stock Exchange in 2001.
Sinochem Group
Sinochem Group was established in 1950 during the reorganization of China's largest international trading firm, China National Chemicals Import & Export Corporation. Sinochem Group remains the largest chemical company in the country but has expanded its operations to include energy, real estate, agriculture and financial services.
Sinochem Group reported consolidated revenue of more than $77 billion dollars in 2014. It began serious development of its oil and gas business in 2003 and has since acquired rights to 39 blocks of oil and gas reserves in 11 countries. It reported production of more than 25 million barrels of oil, making it China's fifth largest crude oil producer by volume. Sinochem Group owns more than 300 subsidies. Three subsidiaries, Sinochem International, Franshion Properties and Sinofert, are listed on the Shanghai Stock Exchange.
Yanchang Petroleum
Yanchang Petroleum traces its history to 1905 and the first oil enterprise established in China, the Yanchang Oil Plant. The company engages in oil and gas exploration and production and refining operations in locations around the world. It reported consolidated revenue of nearly $2.9 billion in 2014. Crude oil production amounted to more than 91.5 million barrels. Most of Yanchang Petroleum's primary operations are organized under its subsidiary Yanchang Petroleum International Limited, which is listed on the Hong Kong Stock Exchange.
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