First Quarter Performance Review Of PetroChina

Intensify exploration and development and strive to increase efficiency and output.

The company made great efforts to stabilize oil and increase gas, and produced 373 million barrels of oil and gas equivalent in China, up 4.3% year on year.

Of that, domestic marketable natural gas production was 1.12 trillion cubic feet, up 9.6 percent year on year.

The exploration and production sector achieved an operating profit of 12.882 billion yuan.

Strictly controlled costs and expenses, continuously reduced unit oil and gas operating costs, which decreased by 8.0% year on year after excluding the impact of exchange rate fluctuations.

Adhere to the market-oriented, vigorously improve the efficiency of refining and chemical.

Seizing the favorable opportunity of market recovery and rising prices of refining and chemical products, the company actively promoted transformation and upgrading, closely linked production and sales, continuously optimized product mix, and made efforts to increase production and sales of high value-added products. It processed 298 million barrels of crude oil, up 7.8% year on year.

Produced 26.946 million tons of refined oil products, up 6.9% year on year;

The commodity volume of chemical products reached 7.381 million tons, up 10.8% year on year.

Operating profit of oil refining and chemical industry was 14.675 billion yuan.

Strengthen fine marketing, and strive to expand sales and increase efficiency.

The company has overcome the adverse effects of excess resources, intensified competition, and the rebound of the epidemic in some regions, refined the analysis and judgment of the market by region and variety, organized and carried out activities to increase the quantity of pure gunpowder and create efficiency, and promoted the increase of the sales volume of jet fuel.

Domestic sales of refined oil products reached 24.195 million tons, up 20.9% year on year.

The operating profit of the sales sector reached 3.315 billion yuan.

Continue to optimize the gas source structure, and strive to promote consumption peak season sales increase efficiency.

Taking full advantage of the cost advantage of imported gas and the favorable opportunity of strong demand in heating season, the company strengthened market development efforts, optimized and adjusted sales strategies and reduced sales costs. The sales volume of domestic natural gas was 54.655 billion cubic meters, up 14.6% year on year.

The natural gas and pipeline sector achieved an operating profit of 18.519 billion yuan.

Future

The company will continue to adhere to the market-oriented, benefit as the center, focus on structural adjustment, reform and innovation, improve quality and efficiency, lay a solid foundation for safety, environmental protection and stability, further promote digital, intelligent and green transformation and development, continue to strive to create excellent performance, with practical actions to return to shareholders and the society.

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