Research On The Strategy Of China National Petroleum Corporation Under The New Normal

Since 2014,China economy and oil gas mount to a new normal when the oil gas demand is slowing down and the global oil price is dropping.Under such influence,China National Petroleum Corporation(CNPC)is facing profit plunge as well as great stress and challenge in the production and operation stage.The existing strategy fails to satisfy the development requirement of the new normal.Therefore,it is necessary to improve and refine the corporate strategy and its culture to achieve the sustainable development of quality and profit.Under the background of the new normal,this thesis adopts the enterprise management theory under the current situation and problems of CNPC.Specifically,this thesis analyzes the macroscopic environment in respect of politics,economy,cultural and technology facing by CNPC as well as the oil gas industry environment by adopting PEST model.As to the internal competitiveness of enterprises,this thesis analyzes the oil gas resource possession,marketing capacity.Via SWOT analysis,this thesis comes to a conclusion that CNPC has good foundation and advantage for development,while it is also facing challenges and problems.In general,the advantages outweigh the disadvantages and the chances outweigh the challenges.From the perspective of choices of strategy,we should adhere and improve the resource strategy,marketing strategy,internationalization strategy and innovation strategy.Profit-oriented,CNPC should strengthen the oil and gal industry chains and enhance the ability of capital appreciation.In the perspective of strategy implement,this thesis proposed seven measures to ensure the smooth implement of the corporate strategy including the priority development of exploration,development of petroleum refining and selling,acceleration of gas pipeline business,coordination of development service,reformation of management system,development of low cost development and strengthening the construction of talent team.