PetroChina Company Limited (PetroChina) is the largest oil and gas producer and distributor, playing a dominant role in the oil and gas industry in China. It is not only one of the companies with the biggest sales revenue in China, but also one of the largest oil companies in the world. PetroChina was established as a joint stock company with limited liabilities by China National Petroleum Corporation under the Company Law and the Special Regulations on the Overseas Offering and Listing of Shares by Joint Stock Limited Companies on November 5th, 1999. Since the foundation, PetroChina has established and improved standard corporate governance structure, in accordance with the applicable laws and regulations including the Company Law and the Mandatory Provisions for the Articles of Association of Companies to be Listed Overseas and the Articles of Association. The shareholders’ meeting, the Board of Directors and the Supervisory Committee of the Company can operate independently and effectively in accordance with the Articles of Association.
PetroChina engages in wide range of activities related to oil and natural gas, including: exploration, development, production and marketing of crude oil and natural gas; refining, transportation, storage and marketing of crude oil and oil products; the production and marketing of primary petrochemical products, derivative chemicals and other chemicals; transportation of natural gas, crude oil and refined oil, and marketing of natural gas.