PetroChina Kicked Off Q1 2023With High-Quality Development

PetroChina Company Limited [“PetroChina” or the“Company”, (HKSE: 00857; SSE: 601857)] announced that the Companytookadvantage of the favourable environment brought by a gradual recovery of global
economy and China’s economic rebound in the first quarter of 2023 to enhanceitsproduction and operation; improve its quality and efficiency; and proceedwithitsreform, innovation and green transformation. The oil and gas businesseswerecarried out in a steady and highly efficient manner. According to IFRS, the Companyrealized a revenue of RMB 732.47 billion in the period, and its net profit attributabletothe parent company grew by 12.1% year-on-year to RMB 43.62 billion. Results Review
Sustained growth in oil and gas equivalent output. The Company steppedupefforts to increase reserves and output, insisted on low-cost and profitabledevelopment, accelerated the development of new energy business, andmadeanumber of achievements in exploration and development. In the first quarter of 2023,
the Company recorded oil and gas equivalent output of 61.172 million tons, up4.9%year-on-year. Its crude oil output amounted to 31.98 million tons, up5.1%year-on-year. The marketable natural gas output was 36.64 billion cubic meters, up4.7% year-on-year. Domestic oil and gas equivalent output reached 54.486million新 闻 稿
Press Release
中 国 石 油 天然气股份有限公司P e t r o C h i n a C o mp a n y Li mi t ed中国北京东城区东直门北大街 9 号
9 Dongzhimen North Street, Dongcheng
District, Beijing,100007,P.R.China
tons, up 3.3% year-on-year; of which crude oil output grew 1.5%year-on-year to26.458 million tons, marketable natural gas output increased by 5.1%year-on-year to35.19 billion cubic meters. The oil, gas and new energy business realizedanoperating profit of RMB 41 billion. Remarkable achievements in transformation and upgrading of refiningandchemicals business. The Company closely monitored the market environment, reinforced coordination of its businesses, and maintained high utilization ratesof itsproduction facilities. In accordance with the market demand, it adjusted theproduct
structure on a timely basis and increased the production of high-profitablespecialtyproducts. In the first quarter of 2023, the Company processed a total amount of
44.241 million tons of crude oil, up 8.1% year-on-year. The gasoline, keroseneanddiesel output reached 27.754 million tons, up 5.7% year-on-year. The output of
chemical commodity products reached 8.491 million tons, up 3.5%year-on-year. Therefining, chemicals and new materials business generated an operating profit of RMB8.47 billion. Significant growth in refined products profitability. The Company graspedtheopportunities arising from a revival in market demand and leveraged the strengthsof
its integrated industrial chain incorporating production, marketing, storage andtradeto boost sales, control costs, reduce inventories and enhance profitability. It
meticulously coordinated international trade, effectively managed market risksandcontinuously enhanced the overall profitability of the industrial chain. Inthefirst
quarter of 2023, the Company sold a total of 37.575 million tons of gasoline, keroseneand diesel products, up 6.5% year-on-year. A total of 27.29 million tons of refinedoil
products were sold domestically, up 9.5% year-on-year. The refinedproduct
marketing and international trade business realized an operating profit of RMB8.16billion.
Natural gas sales climbed in tandem with profit growth. In respect of thenatural
gas sales business, the Company continuously optimized the resource structureandstrived to control procurement costs. It stepped up efforts to enhance marketing, actively expanded the high-end and high-profit markets, improved access todirect
end-customers, strengthened the development of terminal retail sales networkandpersistently increased sales profitability. In the first quarter of 2023, the Company’sdomestic natural gas sales volume reached 62.39 billion cubic meters, up2.9%year-on-year. The natural gas sales business generated an operating profit of RMB10.14 billion. Outlook
The Company will proceed with the five core strategies in respect of innovation, resources, market, internationalization and green and low-carbon development. Furthermore, it will proceed with the implementation of four strategic measuresof
developing a quality workforce, improving development quality and efficiency, promoting low-cost development and fostering corporate culture. The Companywill
focus on core businesses and forge ahead prudently. In cooperation withrelatedstakeholders, it will create long-term value and share the fruits of development withthem, thereby delivering outstanding results to reward its shareholders and investors. ###
Additional information on PetroChina is available at the Company’s website:
Issued by PetroChina Company Limited
For further information, please contact:
PetroChina Company Limited
PR Agency (Overseas media):
PRChina Limited
Joanne Liu
Fax: (852) 2522 9955
Tel: (852) 2522 1838
Email: [email protected]
PR Agency (Domestic media):
EverBloom Investment Consulting Co., Ltd. Di Shen
Fax: (8610) 8562 3181
Tel: (8610) 5166 3828
Email: [email protected]

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