Petroleum is an important strategic energy resources, It is also known as the industrial “blood” and the accelerator for national economy. Chinese petroleum industry has developed in a self-reliance process from small to large scale. On the eve of the founding of new China, there were only some small oil fields such as Laojunmiao in Yumen, Gansu, Dushanzi in Xinjiang and Yanchang in shaanxi with an annual oil production of 12 X104 t in total only. “Foreign Oil” was the main source for domestic oil supply at that time. The Chinese government had paid highly stress to petroleum industry and great manpower and materials had been mobilized and tapped for the industry development after the founding of the new country. Through arduous efforts over 50 years, particularly the hard working of petroleum workers extensively, representing by the “Iron Man”, Chinese petroleum industry has emerged as the 5th largest oil producer in the world, In 50 years, 35 X108 t oil and 4X1011m3 natural gas have been produced accumulatively as a contribution to the Republic. The share of oil and gas in the national energy consumption mix has increased from 0.7% fifty years ago to 20% at present. The accumulative exports of crude oil and oil products have reached 4.61 X108 t and 1.22 X108 t respectively, with a sale revenue up to 85,154 billion USD, making great contribution to the rapid growth of national economy.