CNPC Committed to International Expansion Plan, Chairman Says.
China National Petroleum Corp., the country’s biggest oil and gas producer, will stick to plans to keep expanding internationally, chairman Jiang Jiemin said.
The group is “firmly” committed to its strategy of increasing overseas production, Jiemin said, according to a statement posted on CNPC’s website today. He is also the chairman of its listed arm, PetroChina Co. (857)
Chinese oil companies are spreading out globally to buy resources and meet the country’s growing demands for energy. CNPC’s operations in Sudan have drawn criticism from the U.S. and Europe for allegedly ignoring the African country’s humanitarian crisis.
CNPC units should respect the laws and cultures of the countries where they have operations, Jiemin said, in comments to staff in its international exploration and service units.
To contact the editor responsible for this story: Andrew Hobbs at firstname.lastname@example.org