PDF《中国石油天然气股份有限公司》

1 PetroChina Strived to Increase Reserves and Production and Enhance Efficiency with a Good Start of the Year Achieved in the First Quarter of

2019 (Beijing,

29 April 2019) C PetroChina Company Limited ("PetroChina" or "the Company", HKSE: 0857;

NYSE: PTR;

SSE: 601857) today announced that, adhering to the principle of steady development, the Company devoted major efforts to high-quality development, intensified the measures for broadening sources of income, reducing expenditures as well as cutting cost and enhancing efficiency, and sped up structural adjustment in the first quarter of 2019, amidst a slowdown in the global economy and stable improvement in China's economy.

The Company grasped the favourable opportunities offered by the upward movement of the international oil price and the relatively fast growth of demand in the natural gas market to intensify the production and operation of the Company's two business chains of oil and gas. The Company's principle production indicators grew steadily, and the production and operation activities achieved a good start for the year. In the first quarter of 2019, the Company recorded turnover of RMB591,041 million under IFRS, representing an increase of 8.9% over the same period in 2018. Net profit attributable to owners of the Company amounted to RMB10,255 million, representing an increase of 1.0% over the same period in 2018. 新闻稿Press Release 中国石油天然气股份有限公司PetroChinaCompanyLimited中国北京东城区东直门北大街

9 号 邮编:100007

电话:86-10-59986266 传真:86-10-62099559

9 Dongzhimen North Street, Dongcheng District, Beijing,100007,P.R.China TEL:86-10-59986266 FAX:86-10-62099559

2 Strong momentum of increase in reserves and production and positive results in cost control. The Company continued to optimise its exploration deployment, consolidated the resource base for maintaining the stability in oil production and increasing gas output, accelerated the build-up of the oil and gas production capacity, which led to an increase in the output of both domestic and overseas oil and gas compared with the same period of last year. In the first quarter of 2019, crude oil output was 223.4 million barrels, representing an increase of 4.6% over the same period of last year. Marketable natural gas output amounted to 999.9 billion cubic feet, representing an increase of 8.9% over the same period of last year. The oil and gas equivalent output was 390.1 million barrels, representing an increase of 6.4% over the same period of last year, of which the domestic and overseas oil and gas equivalent output increased by 5.0% and 16.0% over the same period of last year respectively. The Company adhered to its low-cost strategy and devoted major efforts to broadening sources of income, reducing expenditures as well as cutting cost and enhancing efficiency. The Exploration and Production segment achieved a profit from operations of RMB14,326 million, representing a significant increase of 47.1% over the same period in 2018. Increase in the production of marketable and high-profit products, and continuous improvement in the processing load of its high-margin chemical production facilities. Regarding the Refining and Chemicals segment, the Company adjusted and optimised the allocation of resources and the structure of products based on market demands, and reasonably adjusted the ratio of diesel to gasoline in its production from 1.25 for the same period last year to 1.07 this year. The Company also grasped the market opportunities in connection with the growth of demand for chemical products and continuously improved the processing load of its high-margin chemical production facilities, which resulted in an increase of 3.9% in the outputs of chemical commodity products over the same period of last year. In the first quarter of 2019, the Company processed an aggregate amount of 291.6 million barrels of crude oil and produced 27.708 million tons of gasoline, diesel and kerosene. The Refining and Chemical segment realised a profit from operations of