June 2026
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Largest Oil & Gas Public Companies in China
Benchmark revenue and EBITDA valuation multiples for public comps like
PetroChina, CNOOC, China Shenhua Energy, China Petroleum and Jereh Group.
 | PetroChina, the national champion that inherited the majority of Chinese onshore oil and gas assets, has developed into an international supermajor. In 2024, it produced more than 1.7 billion barrels of oil equivalent of oil and gas, and processed 1.4 billion barrels of crude oil. It also has more than 22,000 service stations. The fluctuations in the prices of crude oil, refined products, chemical products, and natural gas have a significant impact on PetroChina’s revenue. State-owned China National Petroleum Corp is PetroChina’s controlling shareholder with a stake of more than 82%. | $2 | +29% | $283B | $307B | 0.7x | 4.4x | ||
| CNOOC is China's main offshore oil and gas exploration and production company. Through its parent company, it has exclusive rights to partner with foreign companies in offshore China projects. Net production for 2024 reached 726.8 million barrels of oil equivalent (78.0% oil), and year-end proven reserves were 7.27 billion barrels of oil equivalent. Assets outside China make up around 32.2% of production. | $4 | +52% | $169B | $140B | 2.4x | 3.7x | ||
| China Shenhua Energy Co Ltd is a globally integrated coal-based energy company, mainly engaging in business segments: Coal, Power generation, Shipping, railway, port, and Coal chemical. Focusing on its core coal mining operation, China Shenhua leverages its self-developed transportation and sales network as well as downstream power plants, coal-to-chemicals facilities, and new energy projects to achieve cross-sector and cross-industry integrated development and operation. | $7 | +26% | $153B | $154B | 3.5x | 9.9x | ||
| China Petroleum & Chemical, or Sinopec, is one of China's national oil companies and one of Asian's largest integrated oil companies in revenue. Its income is derived primarily from refining and marketing of oil products and petrochemical production. Sinopec has China's largest petrol station network with over 30,000 stations and enjoys a significant market share in petrochemicals. Established in 2000 by China Petrochemical Corporation, a state-owned enterprise and majority shareholder, the company also owns oil and gas assets in Shandong and Sichuan provinces. It has a smaller global upstream presence than its peers, PetroChina and CNOOC. In 2024, Sinopec’s production of oil and gas equivalent was 515.35 million barrels. The firm also processed 252.30 million metric tons of crude oil. | $1 | -11% | $82B | $138B | 0.3x | 4.9x | ||
| Yantai Jereh Oilfield Services Group Co Ltd is a China-based company engaged in the manufacturing of oilfield equipment and the provision of oilfield services. It is engaged in drilling equipment and oil & gas field engineering equipment manufacturing, equipment maintenance and accessories sales, oil field engineering technology services, as well as oil & gas field construction services. The company conducts its business within domestic and overseas markets. | $23 | +357% | $24B | $23B | 9.6x | 34.7x | ||
| China Merchants Energy Shipping Co Ltd is a China-based company that engages in tanker transportation, bulk cargo vessel transportation, and liquid natural gas (LNG) vessel transportation. It provides a full range of energy transportation services running a large diversity of vessels, including crude oil tankers, dry bulk carriers, and LNG carriers. It provides services to customers from China, Japan, Korea, Southeast Asia, the United States, and other countries. | $2 | +143% | $18B | $21B | 5.1x | 12.9x | ||
| COSCO SHIPPING Energy Transportation Co Ltd engages in the shipping business. The firm's business covers oil shipping, which includes vessel chartering. The company operates through the following segments: Oil transportation, LNG shipping, LPG transportation, and Chemical transportation. The majority of the firm's revenue is dominated by the Oil transportation segment. | $2 | +82% | $13B | $16B | 4.7x | 10.4x | ||
| Kunlun Energy Co Ltd is an integrated oil and gas service company. The firm is engaged in multiple activities which include exploration and production operations at its oils fields located internationally, operating natural gas pipelines mainly providing support services to the oil and gas industry, and offering processing and storage facilities of liquified natural gas(LNG), and sale of LNG and liquified petroleum gas across China. The group is engaged in a broad range of oil and gas related activities and derives its revenue from its four operating divisions: Natural Gas Sales, Sales of LPG, LNG Processing and Terminal, and Exploration and Production. | $1 | -8% | $8B | $4B | 0.2x | 1.7x | ||
| China Oilfield Services Ltd is engaged in the provision of oilfield services including drilling services, well services, marine support services, and geophysical acquisition and surveying services. It operates in four segments namely the drilling services segment offers oilfield drilling services, the well services segment offers logging and downhole services, the marine support services segment is engaged in the transportation of materials, supplies, and personnel to offshore facilities, moving and positioning drilling structures, and the geophysical acquisition and surveying services segment is engaged in the provision of offshore seismic data acquisition and marine surveying. It generates the majority of its revenue from Well services segment. | $2 | +1% | $8B | $9B | 1.2x | 4.6x | ||
| Shaanxi Energy Investment Co Ltd is engaged in the rhermal power generation, coal production and sales. | $2 | +48% | $7B | $10B | 3.1x | 7.5x | ||
| Guanghui Energy Co Ltd is engaged in the business of liquefied natural gas (LNG), coal chemical, coal development, and oil and gas exploration and development. The company operates an integrated LNG supply chain, from overseas procurement and pipeline imports to domestic distribution. | $1 | +13% | $6B | $8B | 1.8x | 9.4x | ||
| CNOOC Energy Technology & Services Ltd is a diversified industrial group that covers majority of the upstream and downstream sectors of the oil and gas industry chain, forming four core business segments: Energy technology services; Floating Production Storage and Offloading (FPSO) Production Technical Service segment; Energy logistics services; and the Safety, environmental protection and Energy conservation. | $1 | 0% | $6B | $5B | 0.7x | 5.1x | ||
| Sinopec Oilfield Service Corp engages in the provision of onshore and offshore oil and natural gas, exploration, provision of contracting, design, and construction services for the oil and gas projects. It operates through five segments: Geophysics, which provides technical and development, exploration geophysical services; Drilling engineering segment, which provides drilling design, and construction, technical services; Logging and mud logging segment; Special downhole segment, which provides oil engineering technical and construction services; and Engineering construction segment, which provides a package of services, including feasibility studies, procurement, and others. Its geographical segments are, The PRC, Middle East and Other countries. | $0 | +18% | $5B | $9B | 0.8x | 10.9x | ||
| Guangzhou Development Group Incorporated is a China-based company operating in the integrated energy business. It is engaged in the investment, construction, development, and operation of electric power, coal, oil products, natural gas and new energy. The company is also involved in the energy logistics business. | $1 | +32% | $4B | $9B | 1.2x | 9.4x | ||
| Sinopec Shanghai Petrochemical Co Ltd is a Chinese petrochemical company. The company's operating segment includes four reportable segments: petroleum products, chemical products, trading of petrochemical products, and Other business. It generates maximum revenue from the Petroleum products segment. The petroleum products segment is equipped with crude oil refinery facilities used to produce qualified refined gasoline, fuel, diesel oil, heavy oil, and liquefied petroleum gas, and provide raw materials for the group's downstream petrochemical processing facilities. | $0 | +17% | $4B | $4B | 0.3x | 68.0x | ||
| Jiangxi Jovo Energy Co Ltd is a large-scale clean energy integrated service provider in the midstream and terminal sectors of the gas industry. | $5 | +45% | $4B | $4B | 1.2x | 11.8x | ||
| Offshore Oil Engineering Co Ltd operates as an engineering design, procurement, construction, and installation (EPCI) company primarily for the oil and natural gas industry in China and internationally. The company provides technical services, subsea pipe maintenance, and other services for offshore oil underwater engineering; oil-gas field development and repair services; and consulting services for deep-sea engineering. | $1 | +7% | $4B | $2B | 0.4x | 2.5x | ||
| Nanjing Tanker Corp mainly engages in marine transportation in China. The company is also involved in ship construction and repairs, logistics and related support services. | $1 | +53% | $3B | $2B | 2.8x | 7.7x | ||
| CIMC Enric Holdings Ltd is engaged in the design, development, manufacturing, engineering, and sales of transportation, storage, and processing equipment. It is also involved in the provision of technical maintenance services. The company operates through three segments. The clean energy segment specializes in the manufacture and sale of a wide range of equipment for the storage, transportation, processing, and distribution of natural gas. Chemical and environmental segment specializes in the manufacture and sale of a wide range of equipment, such as tank containers, for the storage and transportation of liquefied or gasified chemicals. The liquid food segment specializes in the engineering, manufacture, and sale of stainless-steel tanks for the storage and processing of liquid food. | $1 | +35% | $2B | $2B | 0.4x | 5.5x | ||
| Sinopec Kantons Holdings Ltd is a company that operates in the storage, logistics, and trading industry. It provides crude oil and oil product terminals, ancillary facilities, and logistics services including storage, transportation, and terminal services. The company has two main segments: the crude oil jetty and storage services segment and the vessel chartering and logistics services segment. The company generates the majority of its revenue from the crude oil jetty and storage services segment, which caters to crude oil transportation, unloading, storage, and other jetty services for oil tankers in the PRC, Europe, and the Middle East. Geographically, the company generates all of its revenue from the PRC. | $0 | -16% | $1B | $750M | 8.9x | 4.6x | ||
| Liaoning Energy Industry Co Ltd, formerly Liaoning Hongyang Energy Resource Invest Co Ltd is a China-based company engaged in electric power generation, heat supply, and steam supply. | $1 | -- | $1000M | $1B | 1.7x | 13.3x | ||
| Leishen Energy Holding Co Ltd is a provider of clean-energy equipment and integrated solutions to the oil and gas industry, with a commitment to providing customers with high-performance, safe, and cost-effective energy solutions. The company's business segments include clean-energy equipment, oil and gas engineering technical services, new energy production and operation, and digitalization and integration equipment. A majority of its revenue is generated from the clean-energy equipment segment, which supplies various equipment, such as reciprocating compressor units, expansion units, wellhead heating systems, wellhead safety control systems, oil-water separation systems, natural gas online sampling systems, oil and gas skid-mounted equipment, and polymer flexible composite pipes. | $5 | -20% | $77M | $51M | 1.1x | 38.5x | ||
| Recon Technology Ltd provides automation systems, industrial equipment, and support services tailored for the oil and gas industry in China. The company's business spans key segments such as automation products and software, equipment and accessories, oilfield environmental protection, and platform outsourcing services. It generates the majority of its revenue by providing integrated automation services to Chinese petroleum companies at oilfields. Its key products and services include pumping unit controllers, natural gas flow computer systems, wireless dynamometers and wireless pressure gauges, and an oilfield monitor and data acquisition system. The company’s operations are centered on servicing upstream clients throughout China, with some broader industrial automation solutions. | $1 | -74% | $59M | $53M | 5.5x | (10.4x) | ||
| Median | $1 | +22% | $6B | $8B | 1.2x | 7.7x |
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