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All sectors were profitable, and PetroChina’s net profit was expected to exceed 100 billion yuan last year
Over the same period, PetroChina’s oil and gas production equivalent is expected to exceed 210 million tons, achieving three-year sustained growth.
In the first year of the 14th five year plan, Petrochina Company Limited(601857) Natural Gas Group Co., Ltd. (hereinafter referred to as PetroChina) made a good start. It is expected that the net profit will exceed 100 billion yuan in 2021, the highest in seven years.
On January 12, PetroChina’s listed company Petrochina Company Limited(601857) (601857. SH) announced that the net profit attributable to the company’s shareholders in 2021 will increase by 71-75 billion yuan year-on-year, an increase of 374% – 395%, the best level in seven years.
In 2020, Petrochina Company Limited(601857) realized a net profit attributable to shareholders of the company of about 19 billion yuan. Based on this calculation, the net profit attributable to the shareholders of the company in Petrochina Company Limited(601857) 2021 is about 90 billion-94 billion yuan.
According to interface news, in addition to listed companies, all unlisted businesses included in PetroChina will also make profits in 2021. Therefore, it is expected that the total net profit of PetroChina in 2021 will exceed 100 billion yuan.
In terms of oil and gas production, the equivalent of oil and gas production is expected to exceed 210 million tons in 2021, realizing three-year continuous growth; Natural gas accounts for 51.4% of oil and gas production equivalent, and is expected to exceed 100 million tons.
In terms of crude oil production, the crude oil of Daqing Oilfield has achieved 30 million tons of hard stability; The crude oil output of Xinjiang Oilfield exceeds 13.5 million tons, ranking first in all oil and gas fields; Changqing oilfield produced 25.36 million tons of crude oil in the whole year, with an increase of 1.59 million tons in three years.
In terms of natural gas production, PetroChina has produced more than 100 million tons for the second consecutive year, and the three atmospheric areas of Changqing Oilfield, southwest oil and gas field and Tarim Oilfield have played a major role.
Among them, the natural gas production of Changqing Oilfield in 2021 exceeded 46 billion cubic meters, breaking the historical record again; Southwest oil and gas field has an annual natural gas output of more than 35 billion cubic meters; Tarim Oilfield produces more than 31 billion cubic meters of natural gas.
In addition, PetroChina has focused on unconventional oil and gas, continuously innovated the theory of deep marine shale gas enrichment and high-yield exploration and development, and tackled six main technologies such as horizontal well plus volume fracturing, so as to support Luzhou to form China’s first deep shale gas atmospheric field with “trillion reserves and 10 billion production”.
PetroChina’s new proved oil and gas reserve equivalent also set a new record.
In 2021, PetroChina made 5 major strategic breakthroughs and 15 important discoveries, and implemented 11 100 million ton oil reserves and 12 100 billion cubic meter natural gas reserves.
Over the same period, PetroChina’s overseas oil and gas equity production exceeded 100 million tons for the third consecutive year. So far, PetroChina has operated 94 oil and gas investment projects in 35 countries around the world.
In terms of new energy business, by the end of 2021, PetroChina had built three comprehensive energy service stations and six power exchange stations. In addition, PetroChina has 117 gas stations to carry out charging business and 91 gas stations to carry out photovoltaic power generation business.
On March 9, 2021, PetroChina Beijing headquarters held a “video conference on promoting quality and efficiency improvement and loss making enterprise governance in 2021”, which proposed to create an “upgraded version” of quality and efficiency improvement and resolutely win the battle of loss making enterprise governance.
In terms of organizational structure, PetroChina has established a special action leading group for quality and efficiency improvement to coordinate the work and organize the implementation. In terms of plan formulation, the special action plan for improving quality and efficiency in 2021 was issued, and 31 measures for improving quality and efficiency were introduced to further refine and decompose the tasks of each business segment.
In terms of market upgrading, Xinjiang’s sales have stabilized the “basic sector” of diesel sales and expanded the “efficiency sector” of gasoline sales. In the first 11 months of 2021, the rate of pure gun price in place has increased by 0.1 percentage points year-on-year on the basis of the high level.
Refining and chemical enterprises have also deepened the supply side structural reform and increased high-quality supply guided by market demand. For example, the actual marine transportation and pipeline loss rate of crude oil of Yunnan Petrochemical is significantly lower than the agreed indicators.
Oilfield enterprises have upgraded their management and further improved their efficiency. For example, the full cost of oil barrel in Liaohe Oilfield decreased by 4.6% compared with the headquarters budget. The “mechanical + temporary plugging” composite layered volume transformation technology has been formed in Tarim Oilfield, and the production of 16 wells has been increased by 7.3 times.
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