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China reported record drop in its crude oil production for the month of August.

China's Crude Oil Production Drops to 6-Year Low

Rina S.   | Sep 14, 2016 03:39 PM EDT

China reported a record drop in its crude oil production for the month of August. According to the National Bureau of Statistics, the country's production fell by 9.9 percent from a year ago to 16.45 million tons. The fall main comes due to state energy companies pumping less oil from high-cost fields.

China's PetroChina Co. posted the highest liability among non-financial A-share companies with more than $1.05 trillion yuan ($162.8 billion).

PetroChina's Liabilities Amount to 1 Trillion Yuan

Charissa Echavez   | Apr 11, 2016 04:05 PM EDT

PetroChina, the country's biggest oil producer, posted the highest amount of liabilities among all non-financial A-share firms with 1.05 trillion yuan ($162.8 billion), the worst in nearly two decades.

South China Sea Dispute

China's Sinopec to Create Petrol Station on Disputed South China Sea Island

Brooke Knightley   | Dec 14, 2015 09:07 AM EST

Chinese oil giant Sinopec announced its plan to build a petrol station on an island in the South China Sea amid Beijing's expansion of civilian infrastructures in the disputed body of water.

Su Shulin

Su Shulin: Former Head of Sinopec and Governor of Fujian Under Investigation for Corruption

Kwao Peppeh   | Oct 08, 2015 06:51 AM EDT

The former general manager of Sinopec and governor of Fujian province, Su Shulin, is under investigation for corruption, the Central Commission for Discipline Inspection (CCDI) announced on Wednesday.

Sinopec, Wang Tianpu

Wang Tianpu: Former President of Sinopec Kicked-Out of Communist Party, to be Prosecuted for Corruption

Kwao Peppeh   | Sep 18, 2015 09:00 AM EDT

One of the highest ranking figures in China's petroleum sector has been removed from the Communist Party and all public posts after he was found guilty of corruption by investigators. The Central Commission for Discipline Inspection (CCDI) announced on Friday that the case against Wang Tianpu has been handed over to prosecutors.

China Oilfield Investment

PetroChina Gets 17% Share Price; Will They Give In to Merger With Sinopec?

Staff Reporter   | May 15, 2015 06:28 AM EDT

PetroChina is now trading with big valuations after getting a 17% increase in their share price, thus becoming at par with the competition.

Sinopec

Communist Party Detains Sinopec President On Suspicion Of Corruption

Vittorio Hernandez   | Apr 28, 2015 07:52 PM EDT

Another tiger has been caught in Chinese President Xi Jinping's anti-corruption drive launched in late 2012. He is Wang Tiangpu, the president of state-owned Sinopec Group.

Hainan Airlines

Chinese Airliner Flies from Shanghai to Beijing on Waste Cooking Oil

Sami Ghanmi   | Mar 23, 2015 12:21 AM EDT

Hainan Airlines has conducted the flight using a Boeing 737 as part of a government effort to promote environmental sustainability.

Sinopec

China To Build Its Own ExxonMobil

Geann Pineda   | Feb 19, 2015 09:02 PM EST

China is planning to merge its biggest state-owned oil companies in a bid to become globally competitive amid sliding crude oil prices.

More Chinese Companies Make Fortune’s Top 500 List

Staff Reporter   | Jul 09, 2014 10:55 AM EDT

95 Chinese companies join the ranks of the world's 500 largest corporations by revenue.

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