Newsletters | Request Trial | Log in | Advertise | Digital Issue   |   Search
  • Upstream
  • Midstream & Downstream
  • Gas & LNG
  • Trading & Markets
  • Corporate & Finance
  • Geopolitics
  • Podcasts
Search
Damon Evans
28 May 2015
Follow @PetroleumEcon
Forward article link
Share PDF with colleagues

China's NOCs start to feel the pinch

The country’s oil giants aren’t in the rosiest financial health, but remain ready to scoop up assets elsewhere

The latest numbers from China’s national oil companies (NOCs) signal more pain ahead as they grapple with an international oil-price slump at the same time as demand softens for their product at home. But their appetite for foreign acquisitions lingers on. China’s big oil companies may all ultimately be controlled by the government and have the same goals – to produce or buy enough oil and gas to feed China’s economy while turning a healthy profit to keep investors happy – but they’re far from equal.  While the big two oil companies – China National Petroleum Corporation (CNPC) and China Petroleum and Chemical Corporation (Sinopec) – saw their profits significantly dented last year, China Na

Also in this section
Nigeria bullish about oil recovery
9 July 2025
Efforts to restructure and boost investment appear to be working, but doubts remain about the plan to almost double crude production by 2030
The death knell for UK energy security
7 July 2025
The end of Grangemouth and Lindsey oil refineries marks a worrying trend across Europe amid cost and transition pressures
Petroleum Economist: July/August 2025
3 July 2025
The July/August 2025 issue of Petroleum Economist is out now!
Middle East Gas Conference 2025
2 July 2025
The global energy community will converge in Dubai on 10 December for a landmark event dedicated to shaping the future of natural gas across the region

Share PDF with colleagues

Rich Text Editor, message-text
Editor toolbarsBasic Styles Bold ItalicParagraph Insert/Remove Numbered List Insert/Remove Bulleted List Decrease Indent Increase IndentLinks Link Unlinkabout About CKEditor
COPYRIGHT NOTICE: PDF sharing is permitted internally for Petroleum Economist Gold Members only. Usage of this PDF is restricted by <%= If(IsLoggedIn, User.CompanyName, "")%>’s agreement with Petroleum Economist – exceeding the terms of your licence by forwarding outside of the company or placing on any external network is considered a breach of copyright. Such instances are punishable by fines of up to US$1,500 per infringement
Send

Forward article Link

Rich Text Editor, txt-link-message
Editor toolbarsBasic Styles Bold ItalicParagraph Insert/Remove Numbered List Insert/Remove Bulleted List Decrease Indent Increase IndentLinks Link Unlinkabout About CKEditor
Send
Sign Up For Our Newsletter
Project Data
Maps
Podcasts
Social Links
Featured Video
Home
  • About us
  • Subscribe
  • Reaching your audience
  • PE Store
  • Terms and conditions
  • Contact us
  • Privacy statement
  • Cookies
  • Sitemap
All material subject to strictly enforced copyright laws © 2025 The Petroleum Economist Ltd
Cookie Settings
;

Search

  • Upstream
  • Midstream & Downstream
  • Gas & LNG
  • Trading & Markets
  • Corporate & Finance
  • Geopolitics
  • Podcasts
Search