Petrochina Company Limited(601857) 2021 business performance created a new milestone, and scientific and technological innovation achieved a number of landmark achievements

Petrochina Company Limited(601857) 3 announced on March 31 that in 2021, the company will comprehensively promote production and operation, reform and innovation, quality and efficiency improvement, safety and environmental protection, epidemic prevention and control and other work. The two major oil and gas industrial chains will operate smoothly and efficiently, the green and low-carbon transformation and development will continue to accelerate, and the main production indicators and business performance will create new milestones.

Major operating performance indicators hit a record high. Vigorously strengthen marketing, fully guarantee market supply, and achieve an operating revenue of 2.6 trillion yuan (RMB, the same below), a year-on-year increase of 35.2%, a record high; We will further promote quality and efficiency improvement and adhere to low-cost development. In 2021, the growth rate of main costs and expenses is much lower than that of revenue. Major cost indicators such as unit operating cost of oil and gas and cash processing cost of oil refining unit have been effectively controlled; The operating profit was 161.15 billion yuan, an increase of 85.22 billion yuan year-on-year; The net profit attributable to shareholders of the parent company was 92.17 billion yuan, an increase of 73.16 billion yuan year-on-year.

Green and low-carbon transformation has achieved a rapid start Petrochina Company Limited(601857) earnestly implement the major decision-making and deployment of carbon peaking and carbon neutralization, anchor the goal and commitment to achieve carbon peaking around 2025 and near zero carbon emission around 2050, formulate and implement the special plan for new energy business and the action plan for green and low-carbon development, adhere to the three-step overall deployment of “clean substitution, strategic succession and green transformation”, and promote the implementation of green industrial layout. In 2021, the proportion of the company’s natural gas output in the oil and gas equivalent continued to increase, especially around the deployment of wind, light, heat, electricity and hydrogen, a number of new energy projects were implemented, of which 39 projects were completed and put into operation, the new development and utilization capacity of new energy was 3.5 million tons of standard coal per year, and breakthroughs were made in green and low-carbon transformation. The annual total energy consumption and greenhouse gas emission and intensity indicators all decreased year-on-year.

A number of landmark achievements have been made in scientific and technological innovation. The company adheres to the strategy of innovation first and continuously increases scientific and technological investment and technological research and development. In 2021, we will deploy and implement a number of major scientific and technological projects, make breakthroughs in key core technologies, innovate the geological theory and exploration and development technology of deep and ultra deep, ancient marine carbonate and continental shale oil, complete the million ton ethane to ethylene national demonstration project with fully independent intellectual property rights, and develop and apply complete sets of technologies such as high-end synthetic rubber, high-end synthetic fiber and synthetic resin, Effectively support the increase of oil and gas reserves and production and the transformation and upgrading of refining and chemical industry; A number of pilot projects for digital transformation and intelligent development were launched, and the construction of “digital Petrochina Company Limited(601857) ” was accelerated; Shenzhen New Energy Research Institute and Shanghai New Materials Research Institute were established to build a new energy and new materials R & D and innovation center and build an innovation highland of energy and chemical industry.

Exploration and development will increase reserves and production to achieve both volume and efficiency Petrochina Company Limited(601857) fully promote efficient exploration and increase oil and gas reserves and production, and make a number of major breakthroughs and important discoveries in Inner Mongolia Eerduosi Resources Co.Ltd(600295) , Tarim, Junggar, Sichuan and other key basins. The replacement rate of China’s oil and gas reserves is 147%, of which the replacement rate of crude oil reserves is 221%, a record high. Adhere to the principle of stabilizing oil and increasing gas, and further promote the stable production of old oilfields and the construction of new areas. China’s oil and gas production has achieved double growth, of which China’s crude oil production is 753.4 million barrels, a year-on-year increase of 1.3%; China’s saleable natural gas output was 4222.2 billion cubic feet, a year-on-year increase of 5.7%, a record high, and the proportion of natural gas output in oil and gas equivalent continued to increase. Optimize the structure and regional layout of overseas oil and gas assets, and continuously improve resource acquisition capacity and development quality and efficiency. In 2021, the operating profit of exploration and production business was 68.45 billion yuan, an increase of 45.36 billion yuan year-on-year.

Remarkable achievements have been made in the transformation and upgrading of oil refining and chemical industry. The company has made new breakthroughs in refining and chemical transformation and upgrading, further optimized the product structure, and continuously increased the proportion of oil refining efficient products; The commodity volume of chemical products was 30.796 million tons, with a year-on-year increase of 6.7%, and the output of new chemical materials increased significantly. In 2021, the operating profit of oil refining and chemical business was 49.74 billion yuan, with a year-on-year increase of 51.57 billion yuan, of which the operating profit of oil refining business was 37.73 billion yuan, with a year-on-year increase of 50.53 billion yuan; The operating profit of chemical business was 12.01 billion yuan, an increase of 1.04 billion yuan year-on-year. The commodity volume of chemical products, the profit of oil refining business and the profit of chemical business all reached the best level in history.

Petrochina Company Limited(601857) chairman Dai Houliang said: “looking forward to the future, Petrochina Company Limited(601857) will always adhere to the value pursuit of ‘green development, dedication of energy, increasing driving force for customer growth and giving new energy to people’s happiness’, take advantage of the trend, act tirelessly, strive to create better performance, give back to the majority of investors and shareholders, and realize the common sustainable development of the enterprise, the environment, society and all stakeholders.”

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