Zhenhua Oil
| Company type | State-owned enterprise |
|---|---|
| Industry | Oil and gas |
| Founded | 2003 |
Area served | Egypt, Myanmar, Kazakhstan, Iraq, Iran, Bangladesh (planned) |
| Parent | Norinco |
Zhenhua Oil functions as the oil exploration and production arm of the Chinese state-owned defense enterprise Norinco, having been founded in 2003.
As of 2017, Zhenhua managed exploration and extraction operations across 11 nations, such as Egypt, Myanmar, Kazakhstan, and Iraq. The firm possesses notable upstream stakes in Iraq and has formed a marketing partnership with the State Oil Marketing Organization, Iraq’s official oil marketing agency. Additionally, Zhenhua has maintained a presence in Iran, where it was reported to supply approximately one-third of the country’s gasoline imports by 2010. In 2017, a consortium led by Zhenhua reached an agreement to purchase gas fields in Bangladesh from Chevron, although this transaction was ultimately halted by the Bangladeshi authorities.
In March 2025, Zhenhua Oil halted its procurement of Russian crude oil in response to international sanctions imposed due to Russia’s invasion of Ukraine.