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Brief Introduction of the Corp
Shaanxi Yanchang Petroleum (Group) Corp. Ltd.(abbreviated as Yanchang Petroleum Group),directly attached to Shaanxi People’s Provincial Government, is one of the four qualified enterprises for oil and gas exploration in China.
Century’s Development
In 1905, Yanchang Petroleum Factory was established;
In 1907, drilled the first oil well in mainland China;
In 1944, Mao Zedong wrote the inscription “Immerge in hard work”;
Since China adopted “Reform and Opening-up” policy, Yanchang Petroleum adhered to “Supporting the enterprise via oil, combiningmining with refining, and rolling developing”;
In 1998 and 2005, two great restructurings were undertaken, resulting in integration and reorganization of Shaanxi YanchangPetroleum (Group) Co. Ltd.;
In 2007, Yanchang Petroleum Group successfully entered into the leading petroleum production team with ten-million-ton capacity, ranking 93rd of China top500 enterprises, 21st and 26th among the 200 best enterprises for its profit and taxpaying respectively.
Main Business
Businesses include exploration, exploitation, pipeline transportation and sales of oil and gas; chemical engineering of oil, gas and coal, machinery manufacturing, project construction, and oil and gas research and development.
Main Achievement
In 2007, Yanchang Petroleum Group produced 10.21 million tons of crude oil and 10.95 million tons of product oil, resulting in 47 billion yuan of sales income, 23 billion of tax refund,7 billion yuan of profit, and 26.2 billion yuan of fixed asset investment. By the end of 2007, the gross assets value reached to 67.9 billion yuan with 780,000 employees.
Strategic Goals
Aiming to increase its sales income to 100 billion yuan by the end of the “Eleventh Five-Year Plan”, ranking 50th among China top500 enterprises; entering World top500 enterprises by the end of “Twelfth Five-Year Plan”; developing into a huge and comprehensive corporation majoring in petroleum, coal and chemical engineering with domestic and oversea fame.
Industry Structure
Adhering to “one dominating element with multiple supporting elements”, and “equal emphasis and development of oil and gas” policies; further adjusting its industry structure and extend industry chains; cooperating industry development and capital operation.
Development Prospects
Based upon northern Shaanxi province, Yanchang Petroelum Group will make full use of the development opportunity and contribute to the construction of Shaanxi Province as a strong power in Western China. Adhering to the principles of energy-saving, environmental protection, eco-friendly and safety, Yanchang Petroleum will create a new path to develop innovative industries on the rather eco-fragile lands of northern Shaanxi.
