1. Historical background: China Petroleum and Natural Gas Corporation is one of the large state-owned oil and natural gas enterprises in People's Republic of China (PRC), headquartered in Beijing. China Petroleum and Natural Gas Corporation was established on the basis of reorganization and restructuring of China Petroleum and Natural Gas Corporation and China Petroleum and Natural Gas Corporation at that time.
2. Market position: China Petroleum has a certain market share and influence at home and abroad. China Petroleum ranks 4th in Fortune Global 500 and 2nd in China Global 500, which has a high market position and influence.