China 2015: BRAND PROFILE | 9. PetroChina
COMPANY PetroChina Company, Ltd.
BRAND VALUE US$ 12.0 Billion
YEAR-ON-YEAR CHANGE -11%
INDUSTRY Oil & Gas
YEAR FORMED 1999
PetroChina accelerated its shale gas operations in China, and it advanced construction of important oil and gas pipelines. Internationally, it completed several transactions that strengthened its oil and gas exploration efforts with acquisitions, including:
- Western Australia projects from ConocoPhillips and BHP Billiton.
- The West Qurna-1 project in Iraq from ExxonMobil.
- A project in Peru from a subsidiary of Brazil’s Petrobras.
- The company took these initiatives during a period when the slowdown of China’s economic growth and geopolitical developments challenged the energy sector both domestically and abroad.
Net income improved 4 percent to $11.0 billion in the first half of 2014, on revenue of $187.2 billion, a 5 percent increase. For the full year 2013, net income grew 15 percent to $21.1 billion on revenue of $367.3 billion, a 6 percent gain. PetroChina was listed on the New York and Hong Kong Stock Exchanges in 2000, and on the Shanghai Stock Exchange in 2007.