PetroChina

PetroChina is the public sector of the state-owned China National Petroleum Corp. The company has surpassed expectations after the pandemic, according to its 2020 annual report. Chairman Zhou Jiping explained that during the spread of Covid19, the focus was on profitable development. In one year, the company increased oil production by 4.8% and gas by 9.9% compared to 2019. At the same time, it reduced the cost of gas production by 8.3% to $11.1 per barrel.

PetroChina`s revenue fell by 23.2% in 2020, with PetroChina`s annual report stating that its financial position “remained stable”. Still, the company increased its full-year dividend by more than 20%. In 2021, PetroChina has achieved new record levels of gross profit, lifted by economic recovery and rising oil prices. The company discovered hydrocarbon reserves in the Sichuan, Ordos, and Tarim basins, which it will now develop. Abroad, the company made discoveries in Chad and Kazakhstan. PetroChina aims to start reducing emissions in 2025, reaching “near-zero” emissions by 2050.

Founded: 5 November 1999

Headquarters: Dongcheng District, Beijing, China

Market cap: $134.23 Billion As of December 2021

Revenue: $296bn in 2020

Website: petrochina.com.cn/ptr/