China ZhenHua Oil Co., Ltd. (hereinafter referred to as ZhenHua Oil) is a state-owned oil company specializing in oil and gas exploration & production, oil industry investment, international oil trading, refining and storage and transportation of crude oil and oil products. ZhenHua Oil is a member of the Sino-Kazakhstan, Sino-Venezuela, Sino-Kuwait, Sino-Russia and Sino-Pakistan Intergovernmental Energy Cooperation Commissions. It is also one of the major state-owned enterprises involved in implementation of China’s strategy of “Going Global” and energy security.
Since its incorporation in 2003, ZhenHua Oil, relying on the solid support of China North Industries Group Corporation (NORINCO Group), has been giving full play to its strengths in marketing, financing, human resources and corporate governance and making significant progresses in various aspects of its business. With over ten years’ efforts, ZhenHua Oil has accomplished the following achievements:
Operating 11 oil and gas E&P projects in 6 countries, with possessions of 1.29 billion tons of OOIP and gross annual production of close to 10 million tons;
Achieving an annual trading volume in crude oil and oil products of 65 million tons and sales revenue of over RMB 100 billion;
Establishing an industrial chain stretching from overseas E&P to global oil trading, storage and transportation and refining;
Building up a highly professional and internationalized team and forming a distinctive competitive edge in market development, technical innovation, oilfield operating, capital operation, risk control and integration of international resources.