BEIJING, — China Energy Company Limited (CEFC China) is ranked 34th among the Fortune Global 500’s energy industry list. Among the top ten Chinese energy companies who enter the Global 500, CEFC China is the only private company.
On the list of 2016 Fortune Global 500, there are 77 companies worldwide that deal in oil, coal, natural gas, electricity and electrical power, 24 of which are Chinese companies. CEFC China is ranked 8th among China’s top ten energy companies. Other names in the top ten include State Grid Corporation of China, China National Petroleum Corporation, China Petrochemical Corporation, China Southern Power Grid Co., Ltd., China National Offshore Oil Corporation, The Power Construction Corporation of China, China Huaneng Group, Jizhong Energy Group Co., Ltd and the Shenhua Group Corporation Ltd.
Compared with 2015, the ranking of CEFC China jumped 113 positions to reach 229th in the Fortune Global 500, with a business revenue of USD 41.845 billion.
In 2016 CEFC China completed the transaction of controlling stock of Kazakhstan national petroleum international corporation, thus reinforcing control over oil terminals in a dozen countries in the Black Sea and Mediterranean region.
CEFC China gained four percent of equities in the biggest developed oil gas field in Abu Dhabi. The relevant agreement will be signed soon. Adding CEFC China’s sales equity for 10 million tons of oil and gas from Abu Dhabi, CEFC China will be able to increase imports by over 13.2 million tons of crude oil to China each year.
The company has succeeded in entering the upstream of West Africa’s oil gas industry by completing stock transactions in Chad oil gas project.
CEFC China has built in China oil reserve bases with a capacity of over three million cubic meters. The reserve bases have been put into operation and provide strategic oil reserves for China State Reserve Bureau. This project by CEFC China will increase reserves by three days for the whole country.
At the end of 2016, the China–Kazakhstan liquefied petroleum gas railway transportation, which was funded by CEFC China, was completed. This project greatly strengthened oil gas import capabilities for China’s northwestern region.
With the launching and pushing forward of such key projects, CEFC China is completing its international energy strategy. CEFC China will achieve greater goals in oil and gas industry in 2017.