PetroChina Co Ltd - Company Profile
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Business Description
PetroChina Co Ltd (PetroChina), a subsidiary of China National Petroleum Corp, is an integrated oil and gas company that conducts business in the exploration, development, production, transportation, and marketing of crude oil and natural gas, and new energy business; the refining of crude oil and petroleum products; the production and marketing of primary petrochemical products, derivative petrochemical products and other chemical products, and new materials business; the marketing of refined products and non-oil products and trading business; and the transportation and sale of natural gas business.
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R&D Overview
The company’s R&D efforts focus on promoting green development and efficient utilization of traditional fossil energy. It also focuses on developing new energies for diversified energy supply systems. The company also collaborates with the China University of Petroleum, the Chinese Academy of Sciences, and other research institutes, colleges, and universities for oil and gas exploration and development, new energy, new materials, and other fields. The company is focused on digital transformation and intelligent operation. It is focused on the implementation of digital technologies such as the Internet of Things (IoT), cloud computing, 5G, big data, and artificial intelligence to facilitate business restructuring, improve core competencies, business model innovation, promote business transition, and create value. As of December 2024, the company obtained 2,016 patents in China. In FY2024, the company owned a total of 21,754 patents obtained in China and overseas. In FY2024, the company spent CNY31,115 million on R&D, which was 1% of the company’s revenue and grew 2.1% YoY.
Business Segments
- Marketing
- Natural Gas Sales
- Oil, Gas and New Energy
- Refining, Chemicals and New Material
- Head Office and Other
Overview
It is involved in the marketing of refined products, non-oil products, and trading businesses. Operations include transportation and storage of refined products; wholesale trading, retail, and export of diesel, gasoline, and kerosene. In FY2024, the segment’s capital expenditure stood at CNY7,188 million, which grew 53.8% YoY.
Performance
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Overview
It is engaged in the transportation and sale of natural gas. Sells natural gas to fertilizer and chemical companies, municipal utilities, and commercial users owned by local governments. In FY2024, the segment’s capital expenditure stood at CNY4,300 million, which grew 6.2% YoY.
Performance
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Overview
It is engaged in the exploration, development, production, transportation, and marketing of crude oil and natural gas and new energy business. Conducts oil and natural gas exploration and production in various basins in China such as Tarim, Sichuan, Bohai Bay, Songliao, Ordos, and Junggar basins Also has operations in Jilin, Liaohe, Dagang, Sichuan, North China, Tarim, Turpan Hami, Qinghai, Jidong, Yumen, Zhejiang and Southern other oil regions. In FY2024, the segment’s capital expenditure stood at CNY227,633 million, which decreased 8.4% YoY.
Performance
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Overview
It is engaged in the refining of crude oil and petroleum products, production and marketing of primary petrochemical products, derivative petrochemical products, other chemical products and new materials business. Refined products include diesel, gasoline, lubricants, kerosene, fuel oil, ethylene, synthetic resin, synthetic fiber, synthetic rubber, and urea. Refineries include Dalian Petrochemical, Lanzhou Petrochemical, Dushanzi Petrochemical, Fushun Petrochemical, Urumqi Petrochemical and Jilin Petrochemical. In FY2024, the segment’s capital expenditure stood at CNY33,489 million, which grew 104.4% YoY.
Performance
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Overview
It includes cash management and financing activities, the corporate center, research and development, and other business services supporting the other operating segments of the company. In FY2024, the segment’s capital expenditure stood at CNY3,239 million, which grew 74.7% YoY.
Performance
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Geographical Segments
Performance
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Target Markets
Kazakhstan, Hong Kong, Singapore, Oman, Peru, Thailand, and Azerbaijan.
Performance
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