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It features Chinese energy giants China National Petroleum Corporation (CNPC), China Petrochemical Corporation (Sinopec Group) and China National Offshore Oil Corporation (CNOOC).
Sinopec Limited was established as a joint stock entity under the China Petrochemical Corporation Group (Sinopec Group) in February 2000. The company was simultaneously listed in Hong Kong, New York, and London in October 2000. The IPO raised $3.5 billion. [5]: 146 A Shanghai listing was completed in June 2001.
The Great Wall Drilling Company, a subsidiary of the China National Petroleum Company, invested $700 million in drilling 57 wells in Sudan over a 3-year period starting in 1997. [25] In 2010, the company was awarded a contract by the Sudanese Petroleum Ministry to build 5 oil rigs for $75.5 million. [26]
Because of Sinopec's link to Sudan through parent company China Petrochemical Corporation, 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. [7]
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Shell (RDS.A) and CNOOC announce the start-up of new units to supply essential petrochemicals to the China markets, which will facilitate the economic development in Huizhou City.
China Petroleum Corporation may refer to: CPC Corporation, Taiwan , formerly known as "Chinese Petroleum Corporation", operating from Taiwan as a state-owned company of the Republic of China China National Petroleum Corporation , a state-owned company of the People's Republic of China operating in mainland China
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).