China's energy sector is dominated by state-owned firms operating in the oil and gas industry, the coal industry and the power generation industry. At the top of the list, international conglomerates China Petroleum and Chemical Corp. (NYSE: SNP) and China National Petroleum Corporation rank as the two biggest oil and gas companies in the world and two of the very largest companies in any industry worldwide. China Shenhua (HKSE: 1088.HK) is one of the world's largest coal producers by volume. The remaining companies in this list rank among the world's largest power generation firms. Unless otherwise noted, these companies are ranked according to gross revenues reported in 2014 consolidated financial statements.
China Petroleum and Chemical Corporation
China Petroleum and Chemical Corporation, also known as Sinopec, is an energy giant with worldwide oil and gas operations. The company operates a full oil supply chain in China, from exploration and production to retail sales at service stations across the country.
Sinopec reported consolidated revenue of more than $440 billion in 2014. It produced about 361 million barrels of crude oil and more than 20 billion cubic meters of natural gas, making it the second-biggest oil and gas company in China by production volume. Sinopec is listed on the New York Stock Exchange, the Hong Kong Stock Exchange and the Shanghai Stock Exchange.
China National Petroleum Corporation
China National Petroleum Corporation, known as CNPC, is China's largest oil and gas company by production volume. It reported total international production of nearly 1.2 billion barrels of crude oil and about 114 billion cubic meters of natural gas in 2014. It ranked second in terms of consolidated revenue, with $425 billion on the year.
Similar to Sinopec, CNPC operates at every stage of the oil supply chain in China. Most of CNPC's energy business is organized under its subsidiary, PetroChina. PetroChina is listed on the New York Stock Exchange, the Hong Kong Stock Exchange and the Shanghai Stock Exchange.
China National Offshore Oil Corporation
China National Offshore Oil Corporation, known as CNOOC, is an international oil and gas company specializing in offshore exploration and production. The company is also involved in power generation in China. CNOOC posted consolidated revenue of $95 billion in 2014. Crude oil production amounted to more than 501 million barrels, while natural gas production was nearly 22 billion cubic meters. Gross power generation topped 112 billion kilowatt hours.
Most of CNOOC's energy operations are organized under its subsidiary, CNOOC Limited, which is listed on the New York Stock Exchange and the Hong Kong Stock Exchange.
China Shenhua Energy
China Shenhua Energy Company is an integrated energy company with massive operations in coal production and power generation. It posted consolidated revenue of $38.8 billion in 2014. China Shenhua Energy ranks as the largest coal producer in China, with about 306 million tons of commercial production. Gross power generation amounted to about 214 billion kilowatt hours. The company is listed on the Hong Kong Stock Exchange and the Shanghai Stock Exchange.
China Huadian Corporation
China Huadian Corporation is an energy conglomerate with business operations in power generation, coal mining, engineering technology and financial services. The company's consolidated revenue topped $33 billion in 2013, the most recent year for which data is publicly available. Gross power generation amounted to nearly 473 billion kilowatt hours in the same year, while coal production topped 33.5 million tons.
Several China Huadian Corporation subsidiaries are listed on the Shanghai Stock Exchange, including Huadian Energy Company Limited and Huadian Power International Corporation, which is also listed on the Hong Kong Stock Exchange.
Huaneng Power International, Inc.
Huaneng Power International, Inc. (NYSE: HNP) designs, builds and operates electricity generation plants. It ranks among China's largest power producers, with power stations across 21 Chinese provinces and in Singapore. The company posted consolidated revenue of more than $19.5 billion in 2014. Domestic power generation amounted to more than 294 billion kilowatt hours.
The company was established in 1994 and listed on the New York Stock Exchange the same year. It has since been listed on the Hong Kong Stock Exchange and the Shanghai Stock Exchange.