CNPC commits to green ventures in Africa

By Théophile Niyitegeka
On 21 April 2024 at 08:13

Amidst the evolving landscape of global energy dynamics, China National Petroleum Corporation (CNPC) is pioneering a shift towards sustainable energy practices, particularly in its strategic investments across the African continent.

As the largest oil and gas producer and supplier in China, CNPC not only dominates domestic markets but also has a significant presence internationally, making impactful strides towards a greener future.

CNPC’s product range is vast and varied, encompassing gasoline, diesel, kerosene, lube oil, chemical light oil, fuel oil, solvent oil, paraffin, bitumen, petroleum coke, and liquefied petroleum gas (LPG).

The company also excels in the manufacture of equipment essential for exploration, drilling, well completion, and offshore engineering.

Over 100 equipment manufacturers fall under the CNPC umbrella, with their products achieving international standards such as ISO 9000, ISO 14000, and ISO 10012, with over 60 types of products receiving API certification.

The global footprint of CNPC is impressive, with operations and interests in more than 30 countries across regions including Africa, Central Asia-Russia, the Americas, the Middle East, and the Asia-Pacific.

This extensive network supports the corporation’s strategic goals of expanding its international presence and enhancing its role in the global energy market.

In Africa, CNPC is not only involved in upstream oil and gas exploration but also heavily invests in infrastructure that supports local economies.

Projects like the Benin-Niger pipeline are pivotal, employing solar technologies to power operations sustainably.

Speaking to foreign journalists this week, at the company’s headquarters in Beijing; Wang Wu, a corporate senior expert at CNPC, emphasized the integration of renewable energy sources in their projects.

"We are going to build on top of the clean energy replacement a lot of the solar and wind power bases and realize the energy transformation so that we will be able to realize the green and low carbon development overseas," he noted.

According to Wang, CNPC’s commitment extends beyond environmental considerations to include socio-economic impacts.

He disclosed that the company has initiated several refinery projects in countries such as Sudan, South Sudan, Chad, and Nigeria, aiming to meet local needs and support governmental operations even if these do not yield high investment returns.

Among others, Wang shed light on the dual challenge of aligning pricing with local economic conditions and international standards, addressing issues of accessibility and affordability for local populations while trying to prevent issues like smuggling.

CNPC’s sustainable ventures are part of a broader strategy to promote ecological civilization through high-quality products and services that minimize environmental impact.

The company is steadfast in its commitment to "zero accidents, zero pollution, and zero injuries," aiming for a balance between robust energy production and stringent environmental stewardship.

In 2023, CNPC reported a net profit of 161.1 billion yuan ($22.34 billion), a rise from the previous year’s 148.7 billion yuan.

The operating profit for the natural gas segment exemplifies the company’s successful pivot towards cleaner energy, with earnings more than tripling to 43.0 billion yuan from approximately 13.0 billion yuan in the preceding year.

CNPC’s expansive production capabilities are notable; the company produced 937.1 million barrels of crude oil in 2023 alone, marking a 3.4% increase over the previous year. Additionally, natural gas output ascended by 5.5%, totaling 4,932.4 billion cubic feet.

Two China National Petroleum Corp employees inspect gas pipelines in Qinghai province in January 2022. (Photo / Xinhua)