PetroChina Company News

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PetroChina Claims World's Top Spot for Capex
Friday, March 26, 2021China's fear of dependence on foreign suppliers means its biggest oil company plans to be the world's top-spending driller this year.

Pierce to Succeed Crothers at Shell Canada
Thursday, December 17, 2020Shell Canada President and Country Chair Michael Crothers plans to retire in 2021 after a 33-year career with Shell.

China Oil Buying Binge Set to Slow Down
Wednesday, September 02, 2020China's record haul of crude is poised to end as state-issued allowances for imports dwindle.

Who Leads the World's E&Ps in Production Growth?
Thursday, August 15, 2019Rystad Energy ranks the world's E&Ps according to their production growth over the last five years.

Exxon, Others Add to Claims That US Sold Toxic Crude
Friday, April 12, 2019The energy giant said some oil it purchased last year from the SPR contained "extremely high levels" of hydrogen sulfide.

US Sanctions on Venezuela are Helping Colombian Oil
Wednesday, February 27, 2019U.S. Gulf refiners are bidding up prices for Colombian crude amid sanctions on Venezuelan imports.

China's Surging Gasoline Exports Hurting Regional Refiners
Tuesday, January 15, 2019Fitch Solutions Macro Research identifies factors driving growth in China's gasoline exports.

PetroChina and Qatargas Sign 22-Year LNG Supply Deal
Monday, September 10, 2018PetroChina Co. signs a deal with Qatargas Operating Co. to purchase 3.4 million tons of liquefied natural gas annually.

China Watchdog Says PetroChina Pipeline Runs Through Nature Reserve
Friday, September 07, 2018China's environmental watchdog said a section of PetroChina's fuel pipeline passing through Hebei has encroached on a nature reserve in the northern part of the province.

Petrochina Trying To Cut Impact Of Petchem Import Duties Amid Trade War
Thursday, August 30, 2018Petrochina is trying to reduce the impact of import tariffs on US petrochemicals imposed by Beijing earlier this month.

PetroChina Mulls Suspending US LNG Purchases
Monday, August 13, 2018PetroChina may temporarily halt purchases of US LNG spot cargoes through the winter to avoid potential tariffs amid a trade conflict.

PetroChina Forecasts 1H Net Profit To More Than Double; Highest Since 2015
Monday, July 30, 2018PetroChina expects its profits to more than double in the first half of this year, the latest state oil major to benefit from the revival in crude oil prices.

Sources: PetroChina To Take On Global Rivals In Major Expansion Drive
Monday, December 18, 2017PetroChina's oil and gas trading arm aims to buy petrol stations and fuel storage facilities, according to executives.

Media: Three Dead After Suspected Gas Leak At PetroChina Refinery
Monday, November 20, 2017Three workers are killed and six others injured during a suspected gas leak.

PetroChina, Beijing Firm Doubling LNG Storage in Caofeidian as Demand Rises
Monday, November 06, 2017China is facing a natural gas supply crunch this winter.

Iraq's Talks with Exxon on Southern Oilfields in Final Stages-Minister
Monday, October 09, 2017Iraq's talks with Exxon Mobil to develop a multi-billion-dollar project to boost output from several southern oilfields are nearing completion, oil minister Jabar al-Luaibi said on Monday.

Ecuador to Offer Oil Blocks Under New Bidding Terms in Jan
Friday, October 06, 2017The new terms will allow producers to be paid in oil and enable them to export or sell the barrels to local refineries, said Carlos Perez at a conference at Rice University in Houston on Friday.

Kazakhstan To Sell 5 Bcm Of Gas To China For $1B
Tuesday, October 03, 2017Kazakh state-owned firm KazTransGas will ship 5 billion cubic meters of natural gas to China's PetroChina for about $1 billion.

China Energy Giant Rewards Investors as Higher Oil Buoys Profit
Thursday, August 24, 2017PetroChina took a page from the playbook of global peers known for generous dividends by deciding to pay shareholders its entire half-year net income.

North American Exodus At PetroChina Sparks Speculation Of Company Shift
Wednesday, August 23, 2017A flurry of departures across the US and Canadian units of PetroChina have sparked speculation that the oil trader is reducing its presence in North America.

Fire Put Out At Major PetroChina Refinery In Dalian
Thursday, August 17, 2017A fire broke out at state oil major PetroChina's plant in northeastern China, one of the country's largest refineries.

Petrochina's Refinery, Gas Fields And Pipelines Unaffected By Sichuan Quake
Wednesday, August 09, 2017Petrochina's Refinery, Gas Fields And Pipelines Unaffected By Sichuan Quake

Gas Export Boom Loser May Win From Australia Supply Crunch
Monday, May 15, 2017The decision by the Shell-PetroChina JV Arrow Energy to scrap a A$20 billion project to ship Arrow's fuel overseas as LNG looks like a blessing in disguise.

China's Oil Majors Set To Lift CAPEX For First Time In Years
Thursday, January 26, 2017China's oil majors are expected to pump up spending in 2017 for the first time in years, scrambling to squeeze more barrels of crude out of ageing domestic wells in the hope that higher prices are here to stay.

Petrochina Aims To Meet A Third Of China's Shale Gas Target By 2020
Thursday, January 26, 2017China's biggest energy giant PetroChina plans to step up shale gas development in Sichuan province this year, aiming to meet a third of a 2020 government target for the unconventional resource.

China's Top Oilfield to Cut CAPEX by 20% in 2017
Thursday, December 29, 2016China's largest oilfield, Daqing, will slash capital spending in 2017 by 20% compared to the previous year.

Rumaila Oilfield in Iraq Produces 3 Billion Oil Barrels
Tuesday, December 20, 2016The Rumaila Operating Organisation (ROO) announced Tuesday that the Rumaila oilfield has produced 3 billion barrels of oil since the joint venture began operating in January 2010.

PetroChina Expands Receiving Capacity of LNG Terminals
Tuesday, November 08, 2016PetroChina starts up new storage tanks for LNG in order to get ready to meet winter demand for the heating fuel, according to officials.

China Crude Buying Seen Buoyed As Output Drop Lures Imports
Wednesday, September 14, 2016China's crude oil imports may rise further in the coming months as tumbling domestic output leaves refiners looking overseas for supplies, helping ease a persistent global glut.

Xinhua: China Charges Former Senior PetroChina, FAW Officials With Graft
Wednesday, September 14, 2016Chinese prosecutors have indicted Xu Jianyi, the former chairman of state-owned FAW Group Corp, on corruption charges, the official Xinhua news agency says.

China Oil Output Drops To 6-Year Low As State Giants Shut Fields
Tuesday, September 13, 2016China's crude oil output dropped to the lowest in more than six years as the country's state-run energy giants continued to pump less from aging, high-cost fields.

As Oil Giants Dally Over Glut, Asia Gets To Work On Output Cuts
Wednesday, September 07, 2016As the world's biggest crude producers stop short of taking action to address the global oversupply, output cuts by their largest customers are helping to mop up the glut.

China's Biggest Oil Company Aims For 50% Natural Gas By 2020
Friday, August 26, 2016China's biggest oil company wants natural gas to account for half its output by the end of the decade.

China Oil Giants Unmoved By Bull Rally After Worst Earnings
Thursday, August 25, 2016After posting their worst-ever half-year results, two of China's oil giants aren't getting carried away by crude's return to a bull market, forecasting a rocky path ahead.

Petrochina Profits Sink As Weak Prices, Oversupply Bite
Wednesday, August 24, 2016PetroChina Co Ltd reports sharply lower profits for the first half of the year, hit by slowing demand growth for refined products, an oversupply of crude and weak prices.

China Oil Giants Seen Soothing Investors With Post-Crash Payouts
Tuesday, August 23, 2016China's biggest oil companies may use special dividends to soothe investors after the collapse in energy prices.

China Crude Output Falls To Five-Year Low In July
Friday, August 12, 2016China's crude oil production in July fell 8.1 percent from a year ago to the lowest since October 2011 on a daily basis, as low prices limit the incentive to keep some wells operating in the world's fourth-largest oil producer.

Iraq Seeks Exxon, Petrochina Help to Develop Two Oil Fields
Wednesday, July 27, 2016Iraq is negotiating with Exxon Mobil Corp. and Petrochina Co. to develop two oil fields in the south of the country as it seeks to maintain overall production at about 4.8 million barrels a day.

China Pipeline Fire Kills Two, Cuts Gas Supplies
Wednesday, July 20, 2016China's Sinopec has shut down a section of the Sichuan-East China gas pipeline in the country's central region after it was hit by a landslide and fire, killing two people.

China's Oil, Coal Output Slides in Sign of More Imports to Come
Friday, July 15, 2016The world's biggest consumer of energy is producing less of it.

Shell-Led Group Delays Decision On Canada Gas Export Plan
Tuesday, July 12, 2016Shell and its partners delay for the second time this year a final investment decision on a terminal to export liquefied natural gas from Canada's Pacific Coast to Asian markets.

MIE Shareholders Approve $220M Sale of Sino Gas Energy to China's CNEML
Tuesday, June 21, 2016MIE Holdings Corp.'s shareholders approve a $220 million sale of a 51 percent interest in Sino Gas Energy Ltd., the operator of two coal bed methane blocks in China's Ordos Basin, to China New Energy Mining Ltd.

China's March To Biggest Oil Importer Hits US Shale Roadblock
Friday, June 17, 2016The world's biggest oil importer. The title nobody wants.

China Helping Balance Oil As Thirsty Refiners Rely On Old Fields
Monday, May 16, 2016China's tumbling crude production amid record-high demand from its oil refineries is helping tighten a global market recovering from a glut.

China Oil Giants Take Spending Cuts Deeper as Profits Shrink
Wednesday, March 30, 2016After chopping spending by almost one-third to cope with a crash in oil prices and billions in writedowns that sent profits to the weakest since last decade, China's energy giants are cutting even deeper.

Australia's Browse FLNG JV Decides Not to Proceed with Development
Wednesday, March 23, 2016Woodside and joint venture partners in the Browse floating liquefied natural gas project decide not to proceed with the development off Western Australia.

PetroChina Profit Dives 70% In 2015 On Low Oil Prices
Wednesday, March 23, 2016PetroChina reports a 70% slump in its full-year 2015 profit, with earnings upstream and in the marketing segment both taking a hit from lower prices.

China's Energy Giant Sees Profit Sliding 70% on Oil's Slump
Friday, January 29, 2016PetroChina Co., the country's biggest oil and gas producer, expects its 2015 profit to have fallen 60 percent to 70 percent from a year earlier because of the slump in energy prices.

Wood Mac: 2016 Promises Upstream Opportunities despite Tough Times
Thursday, January 28, 2016A new report from oil and gas consultancy Wood Group shows that 2016 promises many opportunities around the world for the upstream sector in spite of challenging times.

PetroChina, Chevron Sichuan Gas Project in China Starts Output
Monday, January 11, 2016Chevron and PetroChina start natural gas production in China's southwestern regions of Sichuan and Chongqing, eight years after signing a production-sharing agreement.