Chin The Second Largest Oil

2766 Words Apr 24th, 2015 12 Pages
There is no country in the history that has developed so fast in just twenty years like China has emerged since 1980s. Today, China is the second largest oil buyer and the fourth largest oil producing state in the world (China Energy Profile, 2010). Energy demand in China is increasing every day, especially in oil. Its own production is below 49%, i.e. 3.9 million barrels per day, so to fill the domestic shortage; China is hunting for partners around the globe. CNPC administer and manage oil and gas production and examination, field engineering and other technical services based on petroleum. The company operates in more than seventy countries with 130 subsidiaries in 29 states and its aim is to expand to every continent.
In 2007, CNPC was acknowledged as the best performing state-owned enterprise that proves its dedication to its state, employees and the environment. (Business and News, 2008). CNPC has a dynamic group of professionals and has pulled a significant number of country’s most skilled engineers and scientists.
The subsidiaries of the company are facing challenges like clashes with groups, defilement, and working in conflict influenced regions. If CNPC improves its performance in a systematic manner it can progress.

INTRODUCTION:
In 1955, the assets of oil and gas in China underwent advancement after the establishment of the Ministry of Petroleum Industry of the People’s Republic of China. After working for thirty three years Ministry of Petroleum became China…
Open Document