PetroChina International Co. Ltd. (PCI), a subsidiary of China National Petroleum Corporation (CNPC), released its first Environmental, Social and Governance (ESG) Report on December 4 in Beijing, marking a major step in the company’s path toward becoming a world-class energy trader by 2025, reports China.org.cn.
The report outlines PCI’s sustainability principles, actions and performance. Executive Director Wu Junli said the company is building a “diversified and synergistic energy trade ecosystem” to navigate an increasingly complex global energy environment shaped by geopolitical tensions, supply-security challenges and the accelerating shift toward low-carbon energy.
PCI’s total energy trade volume reached 530 million metric tons in 2024, covering crude oil, refined fuels, natural gas, chemicals and green commodities. The company expects this figure to rise above 540 million metric tons in 2025, keeping it among the world’s leading energy traders. It has also expanded its role in major benchmark markets, becoming a key Brent market participant, an active trader in the Platts window and a fast-growing player in global gas and power trading.
Wu said the company is strengthening its low-carbon services, with annual carbon-trading volume exceeding 16 million metric tons of CO₂ equivalent and electricity-trading volume surpassing 18 million MWh. PCI has advanced low-carbon projects in Australia, Central Asia and other regions, and completed the world’s first physical sustainable aviation fuel (SAF) transaction through the Argus platform.
“These milestones show our accelerating shift toward green and low-carbon development as we work to build a sustainable future energy system,” he said.
The report said PCI has reinforced its ESG-driven risk-governance framework by integrating compliance, internal controls and auditing. In 2024, it achieved full due-diligence coverage across counterparties, banks, insurers and shipping partners, along with 100% compliance-training coverage for employees.
On human-capital development, PCI expanded its global job-grading system, mobility pathways and employee well-being programmes. In 2024, 84% of staff in international operations were local hires, with a growing share of foreign executives. The company also broadened community programmes and support for vulnerable groups, aligning business development with environmental and social goals.
At the release ceremony, PCI general manager Luo Yizhou called the report’s publication a “milestone moment” in strengthening the company’s competitiveness. He said that as China advances high-quality development driven by ecological protection and low-carbon growth, companies are expected not only to create economic value but also to contribute to environmental protection, social progress and improved governance.
“The publication of our first ESG report reflects our understanding of global trends, our long-term strategy for sustainable growth and our response to economic and social expectations,” Luo said. He added that PCI will continue embedding sustainability across its operations while working with partners to build a more stable and inclusive community of shared future.
Lu Ruquan, president of the CNPC Economics & Technology Research Institute, which helped compile the report, said global ESG frameworks are entering a period of restructuring as countries balance climate targets, energy security and competitiveness. Energy-trading companies, he said, are now “critical hubs for green transition, energy security, market resilience and technological innovation.”
Highlighting green shipping, Lu noted PCI’s involvement in building six large LNG carriers with advanced technologies. These vessels offer lower energy consumption, high operational reliability and strong fire-safety performance, meeting top international standards. “This investment shows PCI’s commitment to low-carbon operations and strengthens industry momentum toward a greener future,” he said.
Wen Yamei, a senior CNPC expert, said PCI’s ESG practices combine the responsibilities of a state-owned enterprise with the demands of global energy trading. She said the report serves as a practical model for multinational energy companies pursuing similar sustainability pathways.
“Its significance extends beyond PCI’s own disclosures,” Wen said. “It provides a reference for companies advancing comparable sustainability strategies.”
