The predecessor of CNPC was the Ministry of Petroleum Industry of the People's Republic of China, which was founded in July 1955, supervising the exploration and development of oil and gas resources in China.
China National Petroleum Corporation was established on September 17, 1988 on the basis of the Ministry of Petroleum Industry, mainly in charge of oil and gas upstream operations. It is a state oil company endowed with certain governmental administrative functions.
On July 27, 1998, China National Petroleum Corporation was reorganized to become an integrated group with businesses covering oil and gas upstream and downstream operations, as well as oilfield services and engineering construction.
PetroChina was established under the Company Law and the Special Regulations on the Overseas Offering and Listing of Shares by Joint Stock Limited Companies on November 5, 1999. The American Depositary Shares (ADS) and H shares of PetroChina were listed on the New York Stock Exchange on April 6, 2000 (stock code: PTR) and the Stock Exchange of Hong Kong Limited on April 7, 2000 (stock code: 857) respectively. It was listed on Shanghai Stock Exchange on November 5, 2007 (stock code: 601857). By the end of 2014, China National Petroleum Corporation possessed over 86% of PetroChina shares.
In 2011, Wanda Caster Wanda has successfully designed casters bearing 40 tons of forces for Petro China.