On January 27, China National Petroleum Corporation (CNPC) convened its 2026 Work Conference in Beijing. Dai Houliang, Chairman of the Board and Party Secretary of CNPC, delivered a keynote report titled “Anchoring Strategic Goals and Forging Ahead to Empower a Strong Energy Nation and a Better Life”. Zhou Xinhuai, General Manager and Deputy Party Secretary, presented a production and operations report, outlining key tasks across eight priority areas.

Review of the 14th Five-Year Plan (2021–2025)
Dai Houliang noted that the 14th Five-Year Plan period concluded successfully, with CNPC largely achieving its phased strategic goals for high-quality development on schedule and making solid progress toward becoming a world-class enterprise. While advancing overall operations, the Party leadership focused on five major initiatives: commemorating the 75th anniversary of CNPC, implementing four major “breakthrough projects,” promoting the development of new quality productive forces tailored to local conditions, preliminarily building “Digital & Intelligent CNPC,” and advancing comprehensive and strict Party governance.

During the 14th Five-Year Plan period, CNPC effectively addressed a series of severe challenges, elevating its overall strength to a new level. Market competitiveness and international influence improved markedly, transformation and upgrading accelerated, corporate responsibility was fully demonstrated, and the petroleum spirit was further carried forward, writing a new chapter in CNPC’s history.

Key achievements include:

• Outstanding operating performance, with profits ranking among the top tier of central SOEs for four consecutive years;

• A strengthened role as the backbone of national energy supply, with transformation and development entering a fast track;

• Significant progress in high-level technological self-reliance, reinforcing CNPC’s role as a national strategic scientific and technological force;

• Notable results in deepening reform and strengthening management, leading to systematic improvements in corporate governance;

• New progress in building a safe, healthy, and green enterprise, with enhanced employee well-being;

• Active responsibility for major national strategies through landmark projects;

• Deeper implementation of strict Party governance and talent development, resulting in a renewed corporate culture.

Strategy for the 15th Five-Year Plan (2026–2030)
Dai emphasized that the next five years will be a critical period for laying the foundation and making comprehensive advances toward China’s basic socialist modernization. CNPC’s guiding principles will be to follow Xi Jinping Thought on Socialism with Chinese Characteristics for a New Era, fully implement the new development philosophy, serve and integrate into the new development paradigm, and shoulder the strategic mission of “building a strong energy nation and empowering a better life.”

CNPC will anchor its goal of achieving comprehensive high-quality development and basically becoming a world-class enterprise by 2030, adhere to the “four commitments” and “four modernizations” in enterprise governance, implement five major development strategies and five strategic initiatives, and better coordinate business transformation, new quality productive forces, domestic and international operations, high-quality development and high-level safety, reform and innovation, and strict Party governance. The company aims to enhance core functions and competitiveness, fulfill its three major responsibilities, and make greater contributions to national energy security and Chinese modernization.

By 2030, CNPC seeks to achieve industry-leading value creation, secure and efficient energy supply, transformed and upgraded industrial systems, high-level technological self-reliance, exemplary brand and corporate culture, and a sound and modern governance system. Priorities include advancing intelligent, green, and integrated development of modern energy and chemical industries; building a national strategic scientific and technological force; modernizing governance systems and capabilities; and strengthening Party building and talent development.

Key Tasks for 2026
Dai stressed the need to focus on critical priorities, using initiatives such as “AI+,” maintaining stable reserve-to-production ratios, bio-manufacturing, and resolving long-standing operational challenges as levers to advance the four major breakthrough projects. Key requirements include enhancing value creation in core businesses, fostering new quality productive forces, strengthening technological innovation, deepening reform and management, ensuring high-level safety through QHSE initiatives, and promoting high-quality development through strong Party leadership.

Production and Operations Report
Zhou Xinhuai stated that production and operations work will focus on achieving new progress across six dimensions, emphasizing market orientation and value creation to ensure a strong start to the 15th Five-Year Plan. Eight priority tasks were outlined, including risk prevention, implementation of special initiatives, coordinated reserve growth and production, accelerating refining and materials transformation, strengthening service support capabilities, enhancing capital and financial synergies, reinforcing innovation-driven development, and continuously improving governance efficiency.