|Brief Introduction of the Corp|
|Shaanxi Yanchang Petroleum (Group) Co., Ltd. (hereinafter referred to as Yanchang Petroleum Group), one of the four qualified enterprises to explore and develop oil and gas in China, has been a time-honored pioneer engaged onshore oil exploitation. In 2012, it ranked No.89 among top 500 Chinese companies. |
- Century’s Development
- In 1905, Yanchang has a long history. More than 2,000 years ago, its oil wells were recorded in theHistory of Han Dynastywritten by Ban Gu. In 1905, Yanchang Oil Plant was founded, which became the first-ever oil enterprise in China.
- In 1907, Yanchang drilled the first onshore oil well “Yanyi Well” in China, putting an end to the history of no oil production in mainland China, and filling the blank of Chinese industry. In October 1907, Yanchang established the first refinery in China, which produced lamp oil that could be comparable to the imported one.
- In 1935, the Workers’ and Peasants’ Red Army of China took over Yanchang Oil Plant. With concerted efforts, the workers developed a series of products including gasoline, paraffin, candle, wax sheet, gun polishing oil, and vaseline, etc., offering great support for the Anti-Japanese War and the Liberation War. At that time, Yanchang had grown to be a pillar enterprise for the government of Shaanxi-Gansu-Ningxia Border Region.
- In 1938, at the request of the Resources Committee of the national government and with the approval of Zhou Enlai, then the vice chairman of CPC Central Committee, Yanchang Oil Plant deployed two drilling machines and related equipments to Yumen. Later, with the technical support from Yanchang, the first producing oil well was drilled in Laojunmiao, Yumen in August 1939, which inaugurated the development of Yumen Oilfield.
In 1944, Mao Zedong inscribed “Hardworking” for Chen Zhenxia, then the head of Yanchang Oil Plant and the top model worker of Shaanxi-Gansu-Ningxia Border Region. As Mao’s one and only inscription for China’s oil industry, it inspires the workers of Yanchang to work hard and dedicate to Chinese oil industry generation after generation.
- In 1984, the former Ministry of Petroleum and Shaanxi Provincial People’s Government formulated the special policy of “supporting oil production with the profits from exploring oil, combining mining and refining into one and developing at a progressive speed”, which excited the multi-level development of oil industry in Northern Shaanxi, and turned a new leaf on the growth of Yanchang.
- In 1998, Shaanxi Yanchang Petroleum Industry Group was founded.
- In 2005, Shaanxi Yanchang Petroleum (Group) Co., Ltd. was founded, starting the road to group and large-scale development.
- In 2007, the crude oil output, oil refining and processing, and sales of oil products of Yanchang respectively exceeded10 million tons, engendering it into an emerging large oilfield with the output of ten million tons, and making it the 5thlargest oilfield in China.
- In 2008, Yanchang formulated brand-new strategy of “attaching equal importance to oil and gas, develop oil and chemical industry simultaneously, and assure the coordinated development of oil, gas, coal, and salt”, which helped shaping its characteristic mode of development.
- In 2010, Yanchang realized total sales revenue of RMB 102.065 billion Yuan, and total tax of RMB 35.808 billion Yuan, making it the first provincial SOE that reached the annual sales revenue of RMB 100 billion Yuan and made the most fiscal contribution in West China.
- The first continental shale gas well nationwide was successfully drilled in Xiasiwan of Ganquan County in April 2011. Meanwhile, the gas well has successfully produced gas, which marks as a substantial progress of China in continental shale gas exploration and exploitation.
- In 2012, Yanchang Petroleum produced 12.64 million Yuan tons of crude oil, processed 14 million Yuan tons of crude oil and realized sales revenue of RMB 162.1 billion Yuan and profit and tax of RMB 62.6 billion Yuan (including RMB 45.6 billion Yuan paid to financial authorities). Its total assets reached RMB 209 billion Yuan by the end of December 2012. It took the 89th place among top 500 Chinese enterprises in terms of scale and the 24th place among top 200 enterprises in terms of benefit. It may be listed among top 500 global fortunes in 2013.
- Main Business
Businesses include oil and gas exploration, engineering construction, technical research and development, equipment manufacturing, Oil and gas development, petrochemical engineering, oil refining, comprehensive chemical engineering of oil, gas, coal, and salt, pipeline transport, ect.
- Main Achievement
During the “11th Five-year Plan”, Yanchang Petroleum Group has realized a rapid development in production and operation, with main economic index increase by progressive years, a grand step per year and a double increase per three-year and therefore realizing a leapfrog development. The sales income has kept No.1 in the whole province, fiscal contribution retaining No. 1 in five consecutive years, and fiscal contribution ranking top among enterprises nationwide.
- Industry Structure
To forge the development mode for the comprehensive and efficient utilization of resources, low-carbon, recycling, and innovation with characteristics of Yanchang.
Simultaneous development of oil and gas
Equal priority to oil and chemicals
Comprehensive development of oil, gas, coal, and salt