Entity

Established in April 2002, PetroChina International London (PCIL) is a wholly owned subsidiary of PetroChina International. PCIL has its business origin in crude oil and oil products trading, focusing primarily on European and African markets. In 2007, as part of PetroChina’s globalisation strategy, London was selected as the base for building PetroChina’s European Oil and Gas Operation Hub, one of PetroChina’s three overseas operation hubs that function as the group’s major regional nerve centres supporting PetroChina’s extensive global network. In 2011, PCIL and INEOS created the Petroineos joint venture when PCIL invested $1bn in INEOS’ refining business in Europe. Through the joint venture, PCIL gained joint ownership of Grangemouth and Lavera refineries and controlling rights for building a trading and wholesale business to underpin the refineries’ commercial operations.