Petrochina And Bp Group's Management System, A Comparative Study

PetroChina is the largest oversea listed company in China, with China's entry WTO, increasing cost of discovering oil&gas domestically and more and more mergers,acquisitions and reorganizations among multinational oil&gas companies, PetroChina faces great international and domestic pressure. Firstly, It becomes more and more difficult to keep domestic production stable, general trend of domestic production of PetroChina is decreasing; Secondly, monopoly status in production and sale of oil&gas that PetroChina enjoys now will lose soon, PetroChina's edge of operation supported by government policies will disappear in the near future; thirdly, according to China's WTO promise, custom duty imposed on imported oil&gas and petrochemical products as well as non-tariff wall will be cut down step by step until be abolished altogether. Finding a solution to this challenge and developing itself against intense competition is an inevitable task for PetroChina.As the one of most profitable listed companies in Asia for the past three years, managerial system of PetroChina has its own strongpoints. The paper first introduces managerial system of PetroChina all-around,including financial management, project management, human resource management, oversea business management, internal audit etc, then combining with PetroChina's strategic object for the next 5 years, the paper points out that it is necessary for PetroChina learns experience from excellent multinational oil&gas companies in order to become an international-known enterprise. Whereafter, the paper compares PetroChina's managerial system with that of BP group, at last the paper concludes some measures that PetroChina should adopts to achieve its strategic object.China has different social and Culture system from western countries, Chinese enterprises especially Chinese main SOEs can't just copy what multinational companies do, for instance, accounting outsource which is adopted by many famous western oil&gas companies is not feasible for PetroChina to adopt because 1 .cost of workforce is much lower in China while service fee of accounting companies is much high; 2.market of accounting service is not mature enough;3.Chinese GAAP has some special requests;4.Informational system of PetroChina needs to be improved. However, BP's successful experience that grows from small to large, from weak to strong in a highly opened, fully competitive market is significant for PetroChina to study, for example, BP's idea toward internal audit is very novel and practicable.Some viewpoints in the paper are general and universal which can be used for reference by all Chinese enterprises. But most standpoints are only for oil&gas enterprises.