PetroChina Recorded Good Operation for 2007      

On March 19th, PetroChina Company Limited (PetroChina, HK stock code 0857; NYSE symbol PTR; SH stock code 601857) announced its operational and earnings performances for 2007.
   Net profit achieved RMB145.63 billion, a year-on-year increase of 2.4%. Turnover reached RMB 835.04 billion based on the International Financial Reporting Standards (IFRS), up 21.2% year-on-year. The basic earnings per share were RMB0.81, an increase of approximately RMB0.02 from the previous year.
   PetroChina's exploration and production unit, the major force to the company's earnings, realized an operating profit of RMB206.59 billion, down 6% year-on-year due to the increased special earnings levies. In 2007, PetroChina produced 839 million barrels of crude oil, an increase of 8.1 million barrels or 1.0% from the previous year. Output of marketable natural gas reached 1.63 trillion cubic feet, a growth of 255.1 billion cubic feet or 18.6% year-on-year.
   The Refining and Marketing unit suffered a loss of RMB20.68 billion, a reduced loss of RMB8.48 billion from the previous year. PetroChina processed 824 million barrels of crude oil, an increase of 38.6 million barrels or 4.9% year-on-year, and produces 22.02 million tons of gasoline, 2.02 million tons of kerosene and 47.35 million tons of diesel.
   Dalian Petrochemical's new 10 million t/a sulphur-bearing crude oil processing facility is in full swing of construction. Dushanzi Petrochemical's 10 million t/a refinery and 1 million t/a ethylene complex has entered into the stage of assembling. Guangxi Petrochemical's 10 million t/a refinery is under construction. Large-scaled refining and chemical facilities in Fushun, Sichuan, Daqing made new progress as well.
   PetroChina sold 85.74 million tons of petroleum products, with a total service stations of 18 648 units.
   Chemical and Marketing segment recorded an operating profit of RMB7.83 billion, an increase of RMB 2.77 billion year-on-year. The company manufactured 2.58 million tons of ethylene, up 24.8% year-on-year; 3.96 million tons of synthetic resin, up 29.4%; 1.46 million tons of synthetic fiber raw materials and polymer, up 18.4%.
   The Natural Gas and Pipeline unit's operating profit amounted to RMB12.5 billion, an increase of 39% year-on-year, becoming a new growth engine in its profit.
   As of the end of 2007, overseas oil and gas net production reached 57.16 million barrels of oil equivalent, an increase of 0.9% year-on-year.