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China National Petroleum Corporation (CNPC)

China National Petroleum Corporation is one of the world’s largest oil and gas companies, and plays a leading role in China’s petroleum industry. As the parent company of PetroChina, CNPC is also one of the largest state owned enterprises in China. CNPC integrates the business portfolios of both an oil company and an oilfield service provider, with operations covering the entire oil and gas industry value chain. Having oil and gas assets and interests in over 30 countries, CNPC plays an increasingly greater role in the global oil and gas industry.

PetroChina Company Limited (PetroChina)

PetroChina is the publicly listed arm of CNPC. As at 31 December 2020, PetroChina is 80.25% controlled by CNPC. PetroChina is the largest oil and gas producer and distributor in China, contributing approximately 50% and 60% of China’s domestic oil and gas production volume respectively.

  • 890 mil barrels
    Crude Production
  • 3,068 bcfpa
    Natural Gas Production
  • Total Assets Petroineos
    1,123 mil barrels
    Crude Runs
  • 21,783
    Domestic Service Stations
  • Total Trading Volume Petroineos
    Domestic Pipelines

PetroChina International Co., Ltd.(PCI)

PetroChina International Co., Ltd. (PCI) is a 100% owned subsidiary of PetroChina. As the international trading arm of PetroChina, PCI undertakes global commodities trading, development of overseas integrated oil and gas operation hubs comprising refining, storage, logistics and sales & marketing capabilities, as well as the management of oil terminals and storage facilities at China’s key international trading ports. With 40+ subsidiaries and branches in more than 20 countries, PCI has business coverage in all key oil and gas trading hubs and financial centres around the world.

PetroChina International (London) Co.,Ltd

Established in April 2002, PetroChina International London (PCIL) is a wholly owned subsidiary of PetroChina International. PCIL has its business origin in crude oil and oil products trading, focusing primarily on European and African markets.

In 2007, as part of PetroChina’s globalisation strategy, London was selected as the base for building PetroChina’s European Oil and Gas Operation Hub, one of PetroChina’s three overseas operation hubs that function as the group’s major regional nerve centres supporting PetroChina’s extensive global network.

In 2011, PCIL and INEOS created the Petroineos joint venture when PCIL invested $1bn in INEOS’ refining business in Europe. Through the joint venture, PCIL gained joint ownership of Grangemouth and Lavera refineries and controlling rights for building a trading and wholesale business to underpin the refineries’ commercial operations.

Shortly after the establishment of the joint venture, PCIL’s trading operations for crude oil and oil products trading were transferred to Petroineos Trading Limited (“PITL”) and together these entities have successfully built an integrated European oil and gas operation hub with extensive trading, refining, storage, and transportation capabilities. Whilst the Petroineos joint venture has developed and expanded its operations which today cover crude oil trading, oil products trading, power & emissions trading, oil refining, storage and transportation, PCIL’s business activities have focused on LNG & natural gas trading. Together, PCIL and the Petroineos joint venture have geographic coverage of more than 90 countries.

PCIL Businesses


Since 2015, PCIL’s LNG trading business has established a strong presence in this fast-growing market, delivering 3 million tons in 2018.

For PCIL, LNG trading is a growth business capitalising on rapid demand growth from China. The trading desk in London, benefiting from PetroChina’s extensive global upstream portfolio and solid credit rating, can offer innovative and competitive financing structures, with unparalleled trading flexibility and unique competitive advantages.

Natural Gas

Natural gas business is an important part of PetroChina’s long-term growth strategy. PCIL has been trading in European physical and financial gas markets since 2013.

With an extensive gas storage portfolio in Europe, as well as a downstream client base, PCIL’s natural gas desk is well positioned to develop dynamic trading optimisation solutions. The desk works closely with Petroineos refineries and third party clients to offer supply contracts tailored to customers’ needs.