Energy Minerals
PetroChina Co., Ltd.
In the news
- Startup wants to bring China's gas stations into the 21st century Aug 9, 2020
- Banks down, spirits up: Coronavirus reshapes China stock values Jul 1, 2020
- Asia powerhouses in Q1: Sinopec stumbles but Nintendo thrives Jun 15, 2020
- Dow plunges 1,800 points as Wall Street wakes up to pandemic threat Jun 12, 2020
- Fears of Wall Street delisting drive Chinese companies to Plan B May 22, 2020 See more articles on PetroChina Co., Ltd.
Company Background
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.
Business Summary
PetroChina Co. Ltd. engages in the petroleum related products, services and activities. It operates through the following business segments: Exploration and Production; Refining and Chemicals; Marketing; Natural Gas and Pipeline; and Head Office and Other. The Exploration and Production segment involves exploration, development, production, and marketing of crude oil and natural gas. The Refining and Chemicals segment focuses on the refining of crude oil and petroleum products, production and marketing of primary petrochemical products, derivative petrochemical products, and other chemical products. The Marketing segment includes marketing of refined products and the trading business. The Natural Gas and Pipeline segment comprises transmission of natural gas, crude oil, and refined products and the sale of natural gas. The Head Office and Other segment relates to cash management and financing activities, the corporate center, research and development, and other business services supporting the operating business segments of the Group. The company was founded on November 5, 1999 and is headquartered in Beijing, China.
Financial Highlights
| Dec 2021 | HKD | USD |
| Revenue | 2,956.05B | 380,305.44M |
| Gross Profit | 354,488.69M | 45,606.08M |
| Operating income | 204,823.19M | 26,351.14M |
| Income before tax | 174,678.45M | 22,472.93M |
| Net income | 111,084.29M | 14,291.34M |
| EBITDA | 457,307.65M | 58,834.07M |
| Diluted EPS | 0.50 | 0.06 |
| Dividends Per Share | 0.26 | 0.03 |
| Total Assets | 3,060.93B | 392,613.31M |
| Total liabilities | 1,337.51B | 171,557.03M |
| Total equity | 1,545.67B | 198,256.96M |
| Operating cash flow | 414,300.90M | 53,301.11M |
| Currency in HKD | Currency in USD |
Historical Data
| Dec 2017 | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | |
| Revenue | 2,159.94B | 2,632.37B | 2,666.78B | 2,009.51B | 2,956.05B |
| Gross Profit | 225,278.58M | 352,386.87M | 296,566.78M | 168,511.30M | 354,488.69M |
| Operating income | 72,660.61M | 183,412.68M | 146,822.90M | 39,657.38M | 204,823.19M |
| Income before tax | 54,334.60M | 124,513.34M | 107,705.05M | 59,038.84M | 174,678.45M |
| Net income | 26,288.07M | 62,818.69M | 51,799.57M | 21,356.91M | 111,084.29M |
| EBITDA | 352,662.40M | 429,813.44M | 393,300.06M | 268,458.21M | 457,307.65M |
| Diluted EPS | 0.12 | 0.28 | 0.24 | 0.10 | 0.50 |
| Dividends Per Share | 0.15 | 0.20 | 0.15 | 0.20 | 0.26 |
| Total Assets | 2,886.60B | 2,783.47B | 3,057.02B | 2,950.02B | 3,060.93B |
| Total liabilities | 1,228.40B | 1,176.83B | 1,441.42B | 1,329.70B | 1,337.51B |
| Total equity | 1,432.75B | 1,384.14B | 1,376.04B | 1,440.74B | 1,545.67B |
| 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 | |
| Revenue | 277,170.83M | 335,867.62M | 340,359.83M | 259,091.60M | 380,305.44M |
| Gross Profit | 28,908.49M | 44,961.38M | 37,850.57M | 21,726.58M | 45,606.08M |
| Operating income | 9,324.05M | 23,401.80M | 18,738.88M | 5,113.12M | 26,351.14M |
| Income before tax | 6,972.39M | 15,886.77M | 13,746.30M | 7,612.02M | 22,472.93M |
| Net income | 3,373.37M | 8,015.09M | 6,611.13M | 2,753.60M | 14,291.34M |
| EBITDA | 45,254.80M | 54,840.31M | 50,196.56M | 34,612.99M | 58,834.07M |
| Diluted EPS | 0.01 | 0.03 | 0.03 | 0.01 | 0.06 |
| Dividends Per Share | 0.01 | 0.02 | 0.02 | 0.02 | 0.03 |
| Total Assets | 369,258.59M | 355,517.58M | 392,338.17M | 380,459.04M | 392,613.31M |
| Total liabilities | 157,139.58M | 150,310.38M | 184,992.89M | 171,489.19M | 171,557.03M |
| Total equity | 183,280.09M | 176,789.40M | 176,601.92M | 185,809.66M | 198,256.96M |
| Operating cash flow | 52,746.56M | 51,725.01M | 50,725.37M | 44,794.91M | 53,301.11M |
Valuation Measures
| Dec 2021 | |
| PER | 5.63 |
| ROA | 3.69% |
| ROE | 7.43% |
| Operating margin | 6.92% |
| Profit margin | 3.75% |
Key executives
- 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
Shareholders
- 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%)
Contact Details
- Website:http://www.petrochina.com.cn
- Address: No. 9, Dongzhimen North Street, Dongcheng District, Beijing, 100007, China
- Phone: +86.10.59986223
Related Companies
- PetroChina Jinchang Sales Co., Ltd.
- Petrochina Co., Ltd. /Hubei Wuhan Sales Branch/
- PetroChina Heilongjiang Harbin Sales Co.
- PetroChina Co., Ltd. (Guangxi Sales Branch)
- PetroChina Co., Ltd. (Guangxi Laibin Sales Branch)
- PetroChina Co., Ltd. /Daqing Refining Branch/
- PetroChina Hunan Sales Co., Ltd.
- PetroChina Heilongjiang Marketing Co.
- PetroChina Dalian Petrochemical Co.
- Tibet Shannan Yala Xiangbu Industrial Ltd.
- Dongguan Humen Port Tongzhou Petrochemical Terminal Co., Ltd.
- PetroChina (Nanjing) Co., Ltd.
- PetroChina Chongqing Sales Co., Ltd.
- Petrochina Jilin Natural Gas Pipeline Co. Ltd.
- Phoenix Energy Holdings Ltd. (Canada)
- Petrochina Hong Kong Co. Ltd.
- Forever Glowing International Pte Ltd.
- PetroChina Co., Ltd. (Lubricating Oil Branch)
- Daqing Oilfield Construction Group Co., Ltd.
- PetroChina Co., Ltd. /Huabei Petrochemical Branch Co./
- Petro China Co., Ltd. Jilin Petrochemical Branch
- PetroChina & CRMSC Oil Marketing Co., Ltd.
- Petrochina Co. Ltd. /Yunnan Refinery/
- Jilin Petrochemical Co.
- Sichuan Shengda Chemical New Material Co., Ltd.
- Brion Duvernay Gas Partnership
- PetroChina International Iraq FZE Iraq Branch
- PetroChina International Jabung Ltd.
- PetroChina Coalbed Methane Co., Ltd.
- Petrochina Co., Ltd. /Shangluo Luonan Sales Branch/
Competitors
- Rosneft Oil Co.
- Gazprom PJSC
- SK Innovation Co., Ltd
- Petroleo Brasileiro SA Pfd
- HD HYUNDAI CO.,LTD.
- Ningxia Baofeng Energy Group Co., Ltd. Class A
- Jiangsu Zhongsheng Gaoke Environmental Co., Ltd. Class A
- Vermilion Energy Inc.
- Murphy Oil Corporation
- Indonesia Energy Corporation Limited
- Qingdao Copton Technology Co., Ltd. Class A
- Fuchs Petrolub SE Pref
- Qianjiang Yongan Pharmaceutical Co., Ltd. Class A
- Athabasca Oil Corporation
- Blue Energy Limited
- Hubei Guochuang Hi-Tech Material Co ltd Class A
- Lion Energy Limited
- Longhua Technology Group (Luoyang) Co,. Ltd. Class A
- Paramount Resources Ltd. Class A
- Petro Matad Limited
- Rianlon Corp. Class A
- W-SCOPE CHUNGJU PLANT Co., Ltd.
Copyright © 2022 FactSet Research Systems Inc. All rights reserved.
Last Updated on 30 Nov, 2022Discover the all new Nikkei Asia app
- Take your reading anywhere with offline reading functions
- Never miss a story with breaking news alerts
- Customize your reading experience
Nikkei Asian Review, now known as Nikkei Asia, will be the voice of the Asian Century.