China Petroleum: Establishment of new joint venture company completed

China Petroleum Corporation announced that on November 20, 2025, the establishment of the PetroChina Xinjiang gas storage facility was completed, with Taixi Investment and State Grid Energy Storage Technology Co., Ltd. holding 51% and 49% respectively. On November 21, 2025, the PetroChina Xiangguosi gas storage facility was established, with Taixi Investment and State Grid Energy Storage Technology Co., Ltd. holding 51% and 49% respectively. On November 24, 2025, the PetroChina Liaoning gas storage facility was established, with Taixi Investment, State Grid Energy Storage Technology Co., Ltd., and Panjin State-Owned Capital Investment and Operation Group Co., Ltd. holding 50.49%, 48.51%, and 1% respectively.