PETROCHINA(SH:601857) Jing Ji Guan Cha Bao·2025-09-25 08:33Core Insights - China National Petroleum Corporation (CNPC) celebrates its 75th anniversary, marking significant milestones in the development of China's oil industry from an initial annual production of 120,000 tons to achieving a new structure of "three 100 million tons" [1][2][3] Group 1: Historical Development - In 1949, China's annual crude oil production was only 120,000 tons, indicating a weak oil industry foundation [1] - The establishment of the Petroleum Administration Bureau in the same year marked the beginning of centralized management of China's oil industry [1] - Major oil fields such as Karamay, Daqing, and Liaohe were discovered, leading to a breakthrough in national crude oil production exceeding 10 million tons in 1978 [1][2] Group 2: International Expansion - The reform and opening-up policy allowed CNPC to expand internationally, starting with the successful bid for the Taralala oil field project in Peru in 1993 [2] - CNPC has established five major oil and gas cooperation zones across Central Asia-Russia, the Middle East, Africa, the Americas, and Asia-Pacific, operating four major transnational oil and gas transportation corridors [2] - Overseas oil and gas equity production has remained stable at over 100 million tons for six consecutive years [2] Group 3: Current Production and Capabilities - CNPC has formed a new production structure with domestic crude oil, domestic natural gas, and overseas oil and gas equity production, each reaching 100 million tons [2] - Domestic oil and gas production accounts for approximately half and two-thirds of the national total, respectively, with refining capacity ranked second globally [2] - Ethylene production capacity has historically surpassed 10 million tons per year [2] Group 4: Technological Innovation and Future Goals - CNPC is actively constructing a new energy system that is multi-energy complementary and low-carbon, with renewable energy development accounting for 7% of domestic energy supply by 2024 [2] - The company is at the forefront of technologies such as green hydrogen, carbon capture, utilization, and storage (CCUS), and geothermal energy, while also strategically planning for future energy technologies like controllable nuclear fusion [2] - Significant breakthroughs in geological theories and drilling technologies have been achieved, including successful drilling beyond 10,000 meters in the Shenxi Taka 1 well [2] - Digital transformation initiatives, such as the "Kunlun Big Model" with 300 billion parameters, are enhancing the entire industry chain, making smart oilfields and intelligent refineries a reality [2]