In face of the severe impact and various challenges in 2020 brought by the onslaught of COVID-19 globally, the plummeted international oil price and the drastic shrink of domestic refined products market, the company showed firm resolve in implementing the decisions made by the central government and the requirements of the Board. We promoted coordinated advancement in epidemic prevention and control, work and production resumption, business operation, as well as reform and innovation. We vigorously improved quality and efficiency, effectively put epidemic under control and ensured profitmaking. We showed strong resilience with operation along the whole value chain remained stable and performance better than expected, accomplishing the tasks under the thirteenth-five-year plan...
2020 has been an extraordinary and extremely challenging year for CNPC. From the once-in-a-century COVID-19 pandemic to the deep global economic recession, and to the most dramatic oil price collapse in the petroleum history over a hundred years, we were faced with mounting risks and challenges rising abruptly and various contradictions colliding each other. In the midst of changes and challenges, the board and top management of the company showed firm resolve in implementing the important instructions of Chinese President Xi Jinping as well as the decisions and guidance of the State Council, pooled companywide efforts and wisdom, employed unusual measures in the unusual time, and delivered exceptional performance with utmost diligence. We accomplished the 13th Five-Year Plan with great success, which went down in the history of CNPC as a chapter of grandeur...
Exploration and Production
Natural Gas Sales
Refining and Chemicals
Marketing and Sales
Overseas Oil and Gas Operations
In 2020, the global economy tumbled into severe recession due to the ongoing COVID-19 pandemic, frequent extreme natural disasters and unilateral trade protectionism. The energy industry was hit hard. The petroleum and petrochemical sector, being badly affected, experienced the darkest of moments. Looking ahead, with challenges there come opportunities. The oil and gas industry will remain resilient while navigating through the tough times...
China National Petroleum Corporation