East Meets West at PetroChina

CEO Huang Yan talks about his U.S.-style financial practices, China and the WTO, and talks for a joint-venture $18 billion natural-gas pipeline

Huang Yan, CEO of PetroChina, is on the cutting edge of reform as he struggles to transform a lumbering, state-owned behemoth into a nimble, privately run giant of a company. PetroChina (PTR ), which was spun off from unlisted parent company China National Petroleum in a landmark New York Stock Exchange listing two years ago, operates with Western-style financial discipline. The results have been impressive: For the year ended Dec. 31, 2001, PetroChina earned $5.65 billion.

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