BEIJING, March 30, 2025 /PRNewswire/ — PetroChina Corporate Restricted [“PetroChina” or the “Company”, (HKSE: 00857, SSE: 601857)] introduced that the Corporate proactively answered to the evolving park, boosted oil and fuel exploration and construction, additional propelled the transition and upgrading of refining and chemical operations. Month steadily making improvements to the attribute of selling, the Corporate prioritized attribute and profitability enhancement, regularly promoted the fairway and low-carbon transition, actively i’m busy in rising industries, steadily advanced ESG efficiency, and reinforced the profitability of 2 main trade chains of oil and fuel. Regardless of the discovered oil value dropped via 2.5% year-on-year, the Corporate maintained expansion in its working efficiency, attaining untouched report highs for 3 consecutive years.
In response to IFRS, the Corporate recorded a earnings of RMB 2.9 trillion within the complete 12 months of 2024. Internet cash in on account of fairness holders of the Corporate reached RMB 164.68 billion, up 2.0% year-on-year. With steady optimization of its asset-liability construction, the Corporate retained a strong monetary place. The Corporate generated sovereign money stream of RMB 104.35 billion, exceeding RMB 100 billion for 3 consecutive years. In go back for the shareholders, the Board recommends a last money dividend of RMB 0.25 (inclusive of appropriate tax) according to percentage for 2024. Overall annual dividend is RMB 0.47 (inclusive of appropriate tax) according to percentage, representing a payout ratio of 52.2%. The whole amount of money dividend reaches roughly RMB 86.02 billion. Each the general and full-year dividend according to percentage achieve the best ranges in historical past for a similar duration.
Effects Evaluation
Vital travel in boosting oil and fuel reserves and manufacturing, with sustained building up in oil and fuel output. The Corporate adhered to environment friendly exploration to strengthen economically recoverable reserves and the secure substitute ratio. It completed main breakthroughs and demanding discoveries within the Tarim Basin, Sichuan Basin, Junggar Basin, Ordos Basin, and Songliao Basin. Adhering to cost-effective construction, the Corporate systematically complicated the development of capacity-building tasks, together with Bayan and Sulige, making sure successful capacity-building in untouched farmlands, environment friendly and solid manufacturing in mature farmlands, and output expansion thru precision control. The Corporate additionally intensified efforts in large-scale and environment friendly construction of unconventional oil and fuel sources. Because of this, crude oil output has larger regularly, herbal fuel manufacturing has maintained fast expansion, with the proportion of herbal fuel in general oil and fuel output proceeding to get up. The Corporate persevered to pressure the fine quality construction of its out of the country oil and fuel industry, actively obtaining top rate untouched tasks, optimizing the operation of current manufacturing tasks, and adorning the focus of out of the country oil and fuel property and funding returns. In 2024, the Corporate’s oil and fuel output reached 243.7 million heaps in oil similar phrases, representing a year-on-year building up of two.2%. Home oil and herbal fuel output larger via 2.5% year-on-year to 217.0 million heaps, inside of which home crude oil output edged up 0.4% year-on-year to 105.2 million heaps, and marketable herbal fuel output grew via 4.6% year-on-year to 140.36 billion cubic meters. The Corporate pooled its strengths to boost up the improvement of untouched energies industry. In 2024, breeze and solar energy pace reached 4.72 billion kilowatt-hours, with an building up in put in ability totaling 4.95 million kilowatts. Moreover, newly-signed geothermal heating guarantees segment reached 75.12 million sq. meters. The oil, fuel, and untouched energies industry completed an working cash in of RMB 159.75 billion.
Speeded up transformation and upgrading of refining and chemical substances, with untouched fabrics manufacturing attaining untouched report highs. The Corporate adhered to inexperienced and clever construction, adopting a market-oriented and profitability-centered technique to optimize facility usage and product combine. By way of vigorously lowering the manufacturing of fuels and lengthening chemical substances and distinctiveness merchandise, the Corporate steadily larger the output of majestic value-added merchandise week actively shifting to mid-to-high-end of the “Refining, Chemicals, Bio-manufacturing, Fine Chemicals, New Materials” business chain. Key transformation and upgrading tasks, together with Jilin Petrochemical and Guangxi Petrochemical, stepped forward regularly, week the high-end polyolefin undertaking of Blue Ocean Brandnew Fabrics used to be formally introduced. The Corporate expanded gross sales of distinctiveness delicate merchandise, securing the biggest marketplace percentage in China for bonded marine gas, paraffin wax, low-sulfur petroleum coke, and distinctiveness asphalt. The Corporate reinforced chemical marketplace research and forecasting, enhanced advertising functions, and completed a considerable building up in chemical gross sales. In 2024, the Corporate processed 190 million heaps of crude. The output of delicate petroleum merchandise reached 120 million heaps. The commodity quantity of chemical merchandise amounted to 38.98 million heaps, an building up of 13.6% year-on-year, and the output of untouched fabrics surged via 49.3% year-on-year to two.05 million heaps. The refining, chemical substances and untouched fabrics industry generated an working cash in of RMB 21.39 billion.
Advertising and marketing functions have been steadily reinforced, with the community order additional optimized. The Corporate actively answered to marketplace call for fluctuations, reinforced production-sales coordination, and optimized advertising methods to completely leverage the initiative and creativity of gross sales networks, making sure a solid marketplace percentage. The Corporate additionally enhanced world buying and selling operations and profitability ability, steadily making improvements to the profitability of the commercial chain. By way of promptly greedy marketplace dynamics, the Corporate flexibly allotted sources and expanded automobile LNG gross sales. Moreover, the Corporate intensified advertising efforts for non-oil industry, to effect stable expansion within the improper cash in of non-oil industry. The Corporate persevered to give a boost to its community, and make stronger the improvement of built-in power carrier stations and charging infrastructure, steadily optimizing the customer-focused complete power replenishment community. In 2024, the Corporate offered 160 million heaps of gas, kerosene, and diesel. Home gross sales quantity of gas, kerosene and diesel amounted to 120 million heaps. The promoting industry completed an working cash in of RMB 16.49 billion.
Vital expansion in herbal fuel advertising with enhanced potency and profitability, with gross sales quantity hitting a historical majestic. The Corporate ensured a balanced allocation of home and imported sources, and comprehensively coordinated injection and withdrawal of fuel storagefacility amenities with LNG spot procurement, striving to loose prices for the herbal fuel useful resource portfolio. The Corporate persevered to optimize the marketplace order and advertising methods of its herbal fuel industry, boosted efforts in creating direct-sales, end-user markets, and high-end, profitable markets, and labored to develop the fuel energy pace industry, additional making improvements to its advertising attribute and profitability. In 2024, the Corporate offered 287.75 billion cubic meters of herbal fuel, larger via 5.2% year-on-year. Home herbal fuel gross sales reached 227.83 billion cubic meters, representing a year-on-year expansion of three.7%. The herbal fuel advertising industry generated an working cash in of RMB 54.01 billion.
Outlook
Taking a look forward to 2025, the Corporate will preserve the overall theory of pursuing travel week making sure balance, and cling to the 5 construction methods of Innovation, Assets, Marketplace, Internationalization, and Inexperienced & Low-carbon construction. The Corporate will proactively reply to marketplace adjustments, leverage core competencies, steadily optimize manufacturing and operation, create untouched attribute fruitful forces in luminous of native statuses, boost up the improvement of untouched companies together with untouched energies and untouched fabrics. It is going to steadily strengthen the resilience and profit-generating functions of commercial and provide chains, make stronger functions in chance reaction, sustainable construction and worth establishing, attempt to reach fantastic development of the attribute and affordable expansion of the bundle, turning in enhanced construction results to praise shareholders and population.
Supplementary knowledge on PetroChina is to be had on the Corporate’s web page: http://www.petrochina.com.cn
Media touch:
Matthew Li, [email protected]
SOURCE PetroChina Corporate Restricted
