Archive for 3.2 Chinese Oil Companes

Overseas Investments by Chinese National Oil Companies: Assessing the the Drivers and Impacts

This report examines inaccuracies in some commonly held views of China’s National Oil Companies (NOCs). Until now, there has been little analysis to test the widely held presumption that these companies act under the instructions and in close co-ordination with the Chinese government. Nor have critics been challenged on the validity of their concerns about investments made by these NOCs, and how they could be blocking supplies of oil for other importing countries. The IEA analysis, however, finds that contrary to these views, the NOCs actually operate with a high degree of independence from the Chinese government, and their investments have in fact largely boosted global supplies of oil and gas, which other importers rely on.

3 Oil & Gas, 3.2 Chinese Oil Companes

2011 Strategy Preview Analyst Briefing

3 Oil & Gas, 3.2 Chinese Oil Companes

Value Leading to Excellence, Annual Report 2010

Dear shareholders, With the year 2010 quietly slipping by, CNOOC Limited has reached another milestone in the course of its development with your care and support. In reporting the Company’s major operating results, I hereby would like to sum it up in two key expressions — “a new era of growth” and “changes in management team”. I will also share with you my thoughts on CNOOC Limited’s future development in another key expression — “value creation as top priority”

3 Oil & Gas, 3.2 Chinese Oil Companes

Sinopec Group Annual Report 2010

I would like to thank you for Following our development in the past year and look forward to your continued support and understanding. In the face of a complex business environment in 2010, under the strong leadership of the Chinese government and tremendous support from all aspects, we thoroughly implemented the scientific outlook on development, forged ahead pragmatically and progressively, and hit new highs in all aspects of our business performance amidst the extended crisis.

3 Oil & Gas, 3.2 Chinese Oil Companes

Sinopec Corporation Annual Report and Accounts 2010

Capitalizing on China’s steady economic growth, Sinopec Corp. achieved remarkable performance across all businesses and recorded a historical high in operational results despite a challenging operating environment. In 2010, we expanded our resources and markets, optimized operations and enhanced management. In Exploration & Production (“E&P”) business, we accelerated the implementation of our resource strategy, devoted greater efforts in exploration and development and realized continuous increase in reserves and production. Since the official launch of the Sichuan-East China Gas project, our natural gas business has achieved robust growth. In Refining business, we maintained high-load operation, upgraded oil products quality and met the increasing demands from the marketplace. Our Chemicals business took a faster pace to adjust product mix and develop new products and through introducing new capacities and reaping benefits from our centralized sales system, the segment recorded satisfying profit. In Marketing business, we further developed our business by entering new geographic areas, consolidating our existing networks and connections, and rapidly expanding the non-fuel business. We enhanced our ability in global sourcing to ensure crude supply and made a breakthrough in overseas oil and gas business. Our debt structure has also been optimized, thus improving the financial position and asset quality.

3 Oil & Gas, 3.2 Chinese Oil Companes