PetroChina Co., Ltd.
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PetroChina is a Hong Kong-listed subsidiary of the mainland's state-run China National Petroleum Corp., known as CNPC. The parent company has played a leading role in China's oil industry and energy strategy since the Ministry of Petroleum Industry became CNPC in 1988. The CNPC chairman has power equivalent to Chinese government cabinet members.
PetroChina's core businesses are development and production of crude oil and natural gas. It is one of the world's largest oil companies. Its domestic rivals include state-owned enterprise China Petrochemical, also known as Sinopec.
Zhou Yongkang, a disgraced former member of the Chinese Communist Party's Politburo Standing Committee, worked at CNPC. Under Chinese President Xi Jinping's anti-corruption drive, the government cracked down on senior officials at PetroChina.
PetroChina has aggressively expanded its business in Sudan, Libya, Iraq, Syria and other war-torn or dangerous areas, where major U.S. and European companies hesitate to invest. After entering into such markets, however, many projects have failed amid worsening public security. The company has recently scaled down its resource investment, in line with China's "new normal" of slower growth under Xi.
A big challenge for PetroChina is transparency. The company took on 60% of CNPC's total assets when it went public. CNPC accounts for slightly more than 80% of PetroChina's outstanding shares. PetroChina's management does not appear to be influenced by shareholders.
|Income before tax||174,678.45M||22,472.93M|
|Dividends Per Share||0.26||0.03|
|Operating cash flow||414,300.90M||53,301.11M|
|Currency in HKD||Currency in USD|
|Dec 2017||Dec 2018||Dec 2019||Dec 2020||Dec 2021|
|Income before tax||54,334.60M||124,513.34M||107,705.05M||59,038.84M||174,678.45M|
|Dividends Per Share||0.15||0.20||0.15||0.20||0.26|
|Operating cash flow||411,044.34M||405,397.11M||397,443.39M||347,429.13M||414,300.90M|
|Dec 2017||Dec 2018||Dec 2019||Dec 2020||Dec 2021|
|Income before tax||6,972.39M||15,886.77M||13,746.30M||7,612.02M||22,472.93M|
|Dividends Per Share||0.01||0.02||0.02||0.02||0.03|
|Operating cash flow||52,746.56M||51,725.01M||50,725.37M||44,794.91M||53,301.11M|
- President & Executive Director: Yong Zhang Huang
- Chief Financial Officer & Secretary: Hua Wang
- Chief Engineer: Jigang Yang
- Executive Director & Senior Vice President: Li Xin Ren
- Vice President: Jinghui Tian
- The Vanguard Group, Inc. (3.0%)
- BlackRock Fund Advisors (2.4%)
- GQG Partners LLC (2.2%)
- Dimensional Fund Advisors LP (1.4%)
- China State-Owned Assets Supervision & Admn Commission (1.3%)
- State Street Global Advisors Asia Ltd. (1.1%)
- BlackRock Advisors (UK) Ltd. (0.7%)
- Geode Capital Management LLC (0.7%)
- FIL Investment Management (Hong Kong) Ltd. (0.6%)
- Charles Schwab Investment Management, Inc. (0.6%)
- Address: No. 9, Dongzhimen North Street, Dongcheng District, Beijing, 100007, China
- Phone: +86.10.59986223
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Copyright © 2022 FactSet Research Systems Inc. All rights reserved.Last Updated on 30 Nov, 2022
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