Chinese firm surpasses Exxon in oil production (0bummer's Energy Policy in Action)

AP/Google ^ | 3/29/2012 | Chris Kahn

[mojito]

A big shift is happening in Big Oil: an American giant now ranks behind a Chinese upstart.

Exxon Mobil is no longer the world's biggest publicly traded producer of oil. For the first time, that distinction belongs to a 13-year-old Chinese company called PetroChina. The Beijing company was created by the Chinese government to secure more oil for that nation's booming economy.

PetroChina announced Thursday that it pumped 2.4 million barrels a day last year, surpassing Exxon by 100,000. The company has grown rapidly over the last decade by squeezing more from China's aging oil fields and outspending Western companies to acquire more petroleum reserves in places like Canada, Iraq and Qatar. It's motivated by a need to lock up as much oil as possible.

The company's output increased 3.3 percent in 2011 while Exxon's fell 5 percent. Exxon's oil production also fell behind Rosneft, the Russian energy company.

[mojito]

And what did President Alinsky spend his morning doing?

Why, bashing "big oil," of course!

[Carriage Hill]

No golf/vacation/golf/cheeseburger&fries/golf/commie-state-dinner/golf/pouring-over-papers/golf/green-energy-visit/golf today?

[Fitzy_888]

‎"You can't go take a trip to Las Vegas on the taxpayer's dime." - Barack Obama, 2009. "White House officials say First lady Michelle Obama and daughters Malia and Sasha are visiting Las Vegas. They were expected to arrive in Las Vegas Wednesday night." -March, 2012

[LomanBill]

"Chinese firm "

 Like its "Chinese" competitor?

http://www.google.com/#q=petroChina+Sinopec

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About Sinopec

http://english.sinopec.com/about_sinopec/our_business/our_partners/

Domestic Cooperation:

	Shell (China) Co., Ltd www.shell.com/china-cn/ Partnership Overview: On Aug.28, 2004, Sinopec Shell Petroleum Marketing Co., Ltd is jointly established by Sinopec and Shell (China). The JV started operation on Jan. 1st, 2005, which intensified Sinopec’s cooperation with the multinational oil company in oil product marketing through exchanging views on service station management model, retail & sales technology and brand building, etc.
	BP www.bp.com.cn Partnership Overview: On Jan.1st, 2005, Sinopec BP Petroleum Co., Ltd jointly established by Sinopec and BP was put into operation, headquartered in Hangzhou. The JV conducts a wide range of business activities such as oil product sales, c-stores, fast food restaurant, lubricant replacement and vehicle facelift, etc. The JV revamps Sinopec’s existing service stations by endowing them advantageous elements of both Sinopec and BP.
	Exxon-Mobil www.exxonmobil.com
	Saudi Aramco www.saudiaramco.com Partnership Overview with Exxon-Mobil and Saudi Aramco: On Mar.28th, 2007, Sinopec SenMei (Fujian) Petroleum Co., Ltd was jointly established by Sinopec Corp, Exxon-Mobil (China) Petrochemical and Saudi Aramco (China). Starting operation on July 24th, 2007, the JV was the first provincial level refined products sales company and largest oil products supplier in Fujian province. The JV mainly engages in wholesale, retail, storage, transfer and transportation of refined oil products, lubricants and other oil products; c-store management, car wash, lubricants replacement, catering and other auxiliary services, etc.
	McDonalds www.mcdonalds.com.cn Partnership Overview: Sinopec Corp. & McDonald's Strategic Alliance Agreement was inked in June 2006 to set up 'Drive-Thru' restaurants at more than 30,000 Sinopec service stations. The 'Drive-Thru' restaurant is a fresh new kind of service jointly designed and carried out by Sinopec Corp. and McDonalds for customers. So far Sinopec Corp. and McDonalds have jointly launched 'Drive-Thru' restaurants in 7 provinces and municipalities of Beijing, Shanghai, Zhejiang, Guangzhou, Hunan, Hubei and Shenyang.
	CRMSC (China Railway Materials Commercial, Co., Ltd) www.crmsc.com.cn Partnership Overview: Sinopec CRMSC Petroleum Marketing Co., Ltd set up by Sinopec Marketing Co. and CRMSC through joint capitalization is a company responsible for oil product distribution targeting the railroad. Its main businesses cover the wholesale and distribution of gasoline, diesel, kerosene and flammable liquids.
	SINOCHEM www.sinochem.com Partnership Overview: In May 2005, Sinopec and Sinochem inked an agreement that Sinopec Marketing Co. and Sinochem Int’l Petroleum Co. would establish Sinopec Sinochem Oil Product Marketing Co. to engage in oil products sales in a bid to meet the demand of the two groups’ respective reform & development, production & operation. The JV started operation on Mar. 16th, 2006 in Beijing with its main business of domestic oil products wholesales. Currently, the JV carries out wholesale business to such end users as port, power plant, industrial customers and service stations in Southeast China, East China and North China.
	CNAF www.cnaf.com Partnership Overview: CNAF Group, CNPC Marketing Co. and Sinopec Marketing Co. funded the establishment of CNAF Co., Ltd with a total registered capital of RMB3.8 billion on the basis of CNAF parent company. As a state-owned aviation service guarantee company, the JV mainly deals sourcing, storage, transportation, marketing and fueling of aviation fuels for various civil aviation vehicles. As a would-be member of the IATA, the company assumes a dominant position in the aviation fuels sales market by establishing a distribution network in more than 100 airports nationwide and provides fueling service to more than 100 aviation companies both at home and abroad.
	China Shipping (Group) Company 222.66.158.218 Partnership Overview: Sinopec Marketing Co. and China Shipping (Group) Company jointly founded Sinopec China Shipping Vessel Fuel Supply Co. headquartered in Guangzhou on December 30th, 2003. The JV exerts great influence on the coastal vessel fuel supply market by doing businesses covering sourcing, sales, storage and transportation of oil products, fuels, bonded oils, lubricants, materials, accessories and relevant petroleum products with an extensive sales network covering major ports. The company has well-equipped oil depots, terminals, warehouses and chemical labs in China’s major port cities.

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