5 of 500
China National Petroleum
China National Petroleum
5
Rank: 5
Previous rank: 6
CEO: Zhou Jiping
Employees: 1,656,465

China’s biggest oil and gas producer has become a major player in the global oil industry. It has partnered with the governments of oil-rich nations such as Iraq and Qatar and has ramped up domestic oil and gas production as well. In 2012, oil and natural gas production rose 2.8% to 278 million metric tons, even as overseas production fell short of the company’s target. Domestic production rose 2.6% from a year earlier, reaching the highest level since 1998.

CNPC has also emerged as the frontrunner to take over Iraq’s West Qurna-1 oilfield from U.S.-based Exxon Mobil, a move that would increase China’s oil influence in Iraq.

Headquarters:
9 Dongzhimen N. St.
Beijing. 100007
China
86-10-5998-2114
Website: www.cnpc.com.cn
Key financials
$ millions
% change from 2011
Revenues
408,630
16.0
Profits
18,196
11.5
Assets
547,232
Stockholder's equity
262,626
Profits as % of
Revenues
4.5
Assets
3.3
From the July 22, 2013 issue

Notes:
Government owned 50% or more.
Excise taxes have been deducted.
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Companies are ranked by total revenues for their respective fiscal years ended on or before March 31, 2013. All companies on the list must publish financial data and report part or all of their figures to a government agency. Figures are as reported, and comparisons are with the prior year’s figures as originally reported for that year. Fortune does not restate the prior year’s figures for changes in accounting. More
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