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PetroChina Company Limited, together with its subsidiaries, engages in petroleum and natural gas related activities. The companys Exploration and Production segment engages in the exploration, development, production, and sale of crude oil and natural gas. Its Refining and Marketing segment involves in the refining, transportation, storage, and marketing of crude oil and petroleum products. This segments refined products include diesel oil, gasoline, fuel oil, naphtha, bitumen, kerosene, lubricants, and paraffin. The companys Chemicals and Marketing segment produces and sells basic and derivative petrochemical products, and other chemical products. Its basic petrochemical products include propylene, ethylene, and benzene; and derivative petrochemicals include polyethylene, polypropylene, ABS, synthetic resins, synthetic fibers, terylene fiber, nitrilon fiber, synthetic rubber, styrene-butadiene rubber, intermediate products, alkylbenzene, and other chemical products, including urea. The companys Natural Gas and Pipeline segment engages in the transmission of crude oil, refined products, and natural gas, as well as the sale of natural gas. As of December 31, 2008, PetroChina Companys proved developed and undeveloped reserves included 10,576 million barrels of crude oil and 60,246.7 billion cubic feet of natural gas in the Peoples Republic of China; and 645 million barrels of crude oil and condensate, and 942.6 billion cubic feet of natural gas internationally. It has a joint venture agreement with PDVSA Petroleo, S.A. for the exploration and development of oil. The company was founded in 1988 and is headquartered in Beijing, the Peoples Republic of China. PetroChina Company Limited is a subsidiary of China National Petroleum Corporation.
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