PetroChina is a subsidiary of CNPC (China National Petroleum Corporation).


"Iran is taking steps to ramp up oil exports ahead of an end to U.S.-led sanctions, extending crude contracts with its top two Chinese buyers into 2016 and starting talks with other potential buyers there, sources involved in the talks said... Iranian oil officials have met in the last two months with traders at PetroChina, the country's second-largest state refiner... PetroChina's parent company CNPC started pumping oil at Iran's North Azadegan field around October with estimated flow of 75,000 bpd. An easing of sanctions could allow the company to start lifting its share of production, company sources said." (Reuters, "Iran renews oil contracts with China, taps new buyers," 12/3/15)