No. 2: PetroChina

Current BW Magazine Table of Contents

October 24, 2005 BW Magazine Table of Contents

October 24, 2005 Asia BW 50 Table of Contents

Asia's BW50

2005 Rankings

1	PTT
2	PetroChina
3	Oil and Natural Gas
4	S-Oil
5	Tata Steel
6	POSCO
7	Shinhan Financial Group
8	LG Corp.
9	Samsung Electronics
10	MISC (Malaysia IntÕl. Shipping)
11	Taiwan Semiconductor Mfg.
12	Hon Hai Precision Industry
13	AU Optronics
14	Formosa Chemicals & Fibre
15	Mitsui OSK Lines
16	Reliance Industries
17	CNOOC
18	Tata Motors
19	Hyundai Mobis
20	Komatsu
21	LG Electronics
22	China Petroleum & Chemical
23	Philippine Long Distance Telephone
24	PT BUMI Resources
25	Shell Refining (Federation of Malaya)
26	Sumitomo Metal Industries
27	PT Astra International
28	Thai Petrochemical Industry
29	Kobe Steel
30	Aluminum Corporation of China
31	High Tech Computer
32	Toyota Tsusho
33	Nippon Mining Holdings
34	Formosa Plastics
35	Jilin Chemical Industrial
36	Larsen & Toubro
37	China Steel
38	Esprit Holdings
39	Infosys Technologies
40	LG.Philips LCD
41	China Mobile (Hong Kong)
42	Sinopec Zhenhai Refining & Chemical
43	ICICI Bank
44	Siam Cement Group
45	Sinopec Shanghai Petrochemical
46	Matsui Securities
47	Yamada-Denki
48	Kawasaki Kisen Kaisha
49	Orix
50	Nippon Steel

Data: Standard & Poor's Compustat

OCTOBER 24, 2005

STORY TOOLS

GRISCHA RUESCHENDORF/
BLOOMBERG NEWS

Chen Geng took the job of chairman of PetroChina Co. (PTR ) last year, it was under less than happy circumstances. A gas well accident in late 2003 had killed 243 people, and China's top petroleum company was under attack for lax safety standards. Chen was brought in as an experienced company exec unsullied by the disaster. With no major accidents since he took over, Chen can concentrate on finding new energy resources. The company expects to see 5% growth in reserves this year, to 140 million tons of oil and gas equivalent. Buoyed by soaring demand, PetroChina's sales last year grew 28%, to $47.1 billion, while profits reached $12.5 billion, up a giddy 47.9%. Warren Buffett invests in PetroChina stock, which is up 46% in the past year.

PetroChina produces two-thirds of China's oil and gas, runs more than 15,000 service stations, and last year completed the 4,200-kilometer West-East Gas Pipeline. ``In another five years we will have a pipeline network with a natural gas focus covering [most]of China,'' says Chen, who is also president of parent China National Petroleum Corp. Through a joint venture with CNPC, it has looked for oil and gas in Kazakhstan, Peru, Venezuela, and Indonesia. But as the heated response in the U.S. to China National Offshore Oil Corp.'s bid for Unocal shows, there are challenges ahead. ``Both domestically and internationally we will face fierce competition,'' says Chen. He seems prepared for it.

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