CNPC Better Positioned for China's National Economic Development

摘要

China National Petroleum Corporation (CNPC), the parent company of PetroChina, has set the 2005 business objectives to bring up the annual additional oil and gas recoverable reserves to 220 million tons of oil equivalent, pump 161 million tons of oil and gas in total, and raise the domestic crude processing volume to 120 million tons in the year ahead. At the five-day annual work conference closing on January 19 in Beijing, CNPC further clarified its goal to build itself into a powerful multinational integrated energy enterprise with the international competitiveness. The oil giant has been fully aware of its historical responsibility for its current position in China's national economic development. "Dedicated to energy supply and creating harmony between energy and environment" is the solemn promise CNPC has made for the whole society. The profit made by CNPC is estimated to account for one fourth of the total by the enterprises owned by the central government in 2004.