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Global 500

Qilai Shen — Bloomberg via Getty Images

3

China National Petroleum

China

CNPC is still the physical face of Beijing’s never-ending global hunt for energy resources. It’s currently emerging from what might politely be called a transitional period, after a number of its past executives fell foul of the power struggle that President Xi Jinping refers to as an anti-corruption campaign. The company’s General Manager position was vacant for 16 months before it finally appointed industry veteran Zhang Jianhua in July. CNPC is officially trying to improve its governance and strengthen its balance sheet by opening up to private investors, but has little to show for it so far.

CEO

Wang Yilin

Sector

Energy

Industry

Petroleum Refining

HQ Location

Beijing, China

Employees

1,589,508

Years on Global 500 List

16

Government owned 50% or more.Includes revenues from discontinued operations. Excise taxes have been deducted.
Key Financials (last fiscal year)
($ Millions)% change
Revenues ($M)$299,271-30.2%
Profits ($M)$7,091-56.7%
Assets ($M)$621,242
Total Stockholder Equity ($M)$320,222
Profit Ratios
Profit as % of Revenues2.4%
Profits as % of Assets1.1%
Profits as % of Stockholder Equity2.2%