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China National Petroleum Corporation (CNPC)

China National Petroleum Corporation (CNPC) is a publicly listed integrated oil and gas company headquartered in China, with majority state ownership. In 2019, it had USD 396.65 billion in revenue and a reported 1,344,410 employees in 2020*. CNPC is the world’s 3rd largest oil company with assets and interests in over 30 countries. CNPC has started developing renewable energy but lacks a clear low-carbon transition plan.

Ranking position
#64/100
Total score
3.3/100
Performance score
1.4/20
Narrative Score
ABCDE
Trend Score
  • Trend line is up
  • Trend line is equal
  • Trend line is down
Performance module name Performance module score Rank (0-100)

Targets

0.0 /100 #38

Material Investment

0.0 /100 #84

Intangible Investment

0.0 /100 #20

Sold products

1.8 /100 #43

Management

31.3 /100 #49

Supplier Engagement

5.0 /100 #46

Client Engagement

5.0 /100 #39

Policy Engagement

30.0 /100 #27

Business Model

13.8 /100 #24

Leading practices

No leading practices were identified for this company.

Risks and opportunities

Trend

CNPC receives a trend score of -. If the company were reassessed in the near future, its score would likely decrease. The company has started research into developing renewable energy, but this is still at an early stage. The company aims for a higher proportion of natural gas and renewables in its domestic energy output by 2030, and to increase this even further by 2050. However, it fails to provide clarity on the business model and strategy that will help achieve this ambition.

With no robust low-carbon transition plan, and no specific targets for reducing its scope 1, 2 and 3 emissions intensity, CNPC is not on track to achieve the low-carbon transition aligned with its 1.5°C pathway.

Progress towards the Paris Agreement

More about the company

Headquarters
Beijing, China
Group revenue
(2019) RMB 2771.4 billion (USD 396.65 billion)
Ownership structure
Publicly listed with majority owned by governement
Number of employees
1,344,410
Scope of activity
Integrated
Website
http://www.sinopec.com/listco/En/