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In 1949, the Yumen Oil Field was the only domestic oil field able to support industrial production and it fell far short of China's oil needs. [ 3 ] : 13 After the Nationalists ' defeat in the Chinese Civil War , the oil field was transferred by the Republic of China's National Resources Commission (NRC) to the newly founded People's Republic ...
China has set a minimum size for new oil refineries and will ban small crude processors that claim to be chemicals or bitumen producers under a plan to limit total capacity at 1 billion metric ...
China Petroleum and Chemical Corporation operates a publicly traded subsidiary, called Sinopec, listed in Hong Kong and Shanghai stock exchanges. China Petroleum and Chemical Corporation is the world's largest oil refining conglomerate, state owned enterprise, and second highest revenue company in the world behind Walmart.
CNPC is the government-owned parent company of publicly listed PetroChina, which was created on November 5, 1999, as part of the restructuring of CNPC.In the restructuring, CNPC injected into PetroChina most of the assets and liabilities of CNPC relating to its hydrocarbon exploration and production, refining and marketing, chemicals and natural gas businesses.
The Yanbu Aramco Sinopec Refining Company, which has been in operation since 2016, uses 400,000 barrels per day of Arabian heavy crude oil to produce premium transportation fuels, according to the ...
Yanchang was founded in 1905 in Shaanxi province in China, and was recorded as the first oil enterprise in China. In 1907, Yanchang Oil Plant was the first Chinese company to drill an oil well, also known as ‘Yanyi Well’ in China, and built the first refinery to refine crude oil into commercially refined lamp oil that is “comparable to the imported lamp oil [sic)].” [3] In 1935 ...
OPEC now sees China's demand for oil dropping by 60,000 barrels per day this year, after forecasting an increase of 120,000 only a month ago. Chinese oil demand is suddenly collapsing as Beijing ...
The Daqing Oil Field (simplified Chinese: 大庆油田; traditional Chinese: 大慶油田; pinyin: Dàqìng Yóutián), formerly romanized as "Taching", [1] [2] is the largest oil field in the People's Republic of China, located between the Songhua river and Nen River in Heilongjiang province.