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In 2023, PetroChina received the equivalent of US$343 million in state subsidies. [25] PetroChina was allowed to accelerate its renewable energy business in 2022, installing 5.36 gigawatts of wind and solar power plants and 11.2 million square meters of geothermal projects during the first half of the year.
CNPC is the government-owned parent company of publicly listed PetroChina, which was created 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 hydrocarbon exploration and production, refining and marketing, chemicals and natural gas businesses.
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On 17 October 2023, an equity agreement was signed between Sinopec and KazMunayGas JSC for a 30% stake in a $7.7bn polyethylene project in Kazakhstan, which is expected to start construction in the second half of 2024. [130] In 2023, Sinopec was approved to invest $4.5 billion in refinery construction at Hambantota International Port, Sri Lanka.
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China National Offshore Oil Corporation, or CNOOC Group (Chinese: 中国海洋石油总公司; pinyin: Zhōngguó Háiyáng Shíyóu Zǒnggōngsī), is the third-largest national oil company in China, after CNPC (parent of PetroChina) and China Petrochemical Corporation (parent of Sinopec).
Fushun Petrochemical Company is a refining and petrochemical division of PetroChina.It is located in Fushun, Liaoning province, northeastern China.It is a manufacturer of different petrochemical products, as also catalysts for oil processing and noble metal refining.
LNG Canada Development Inc. is an industrial joint venture established to construct a liquefied natural gas (LNG) export terminal in Kitimat, British Columbia, Canada.The consortium is led by Shell and also includes Petronas, PetroChina, Mitsubishi, and Korea Gas.