Asia300

PetroChina Co., Ltd.

China

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Oct 20, 2017
Prev close: 5.01
Oct 20, 2017
Market cap:
Market cap(USD):
1,661.14B
212,877.26M
Shares: 183,020.97M

Currency in HKD

Company profile

Market(Ticker): HKG(857)
Sector:
Industry:
Energy Minerals
Integrated Oil
Full time employees: 508,757

Business summary

PetroChina Co. Ltd. engages in the exploration, development, production and sale of crude oil and natural gas. The company also involves in the refining of crude oil and petroleum products, production and marketing of primary petrochemical products, derivative chemical products and other chemical products. it operates its business through five segments: exploration and production, refining and chemicals, marketing, natural gas and pipeline, and other. The exploration and production segment is engaged in the exploration, development, production and marketing of crude oil and natural gas. The refining and chemicals segment is engaged in the refining of crude oil and petroleum products, production and marketing of primary petrochemical products, and derivative petrochemical products and other chemical products. The marketing segment is engaged in the marketing of refined products and the trading of crude oil and petrochemical products. The natural gas and pipeline segment is engaged in the transmission of natural gas, crude oil and refined products and the sale of natural gas. The 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 company. PetroChina was founded on November 5, 1999 and is headquartered in Beijing, China.

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.

In the news

Financial highlights

Dec 2016

  • Local currency
  • US Dollar
Revenue 1,669.73B
Gross profit 207,679.38M
Operating income 57,454.64M
Income before tax 48,006.81M
Net income 9,230.50M
EBITDA 313,735.56M
Diluted EPS 0.04
Dividends per share 0.06
Total assets 2,674.13B
Total liabilities 1,142.32B
Total equity 1,326.85B
Operating cash flow 302,020.99M

Currency in HKD

Revenue 215,104.13M
Gross profit 26,754.33M
Operating income 7,401.60M
Income before tax 6,184.48M
Net income 1,189.12M
EBITDA 40,417.04M
Diluted EPS 0.00
Dividends per share 0.00
Total assets 344,909.70M
Total liabilities 147,337.50M
Total equity 171,137.34M
Operating cash flow 38,907.91M

Currency in USD

Valuation measures

Dec 2016

PER 123.76
ROA 0.33%
ROE 0.67%
Operating margin 3.44%
Profit margin 0.55%

Key executive

  • Chairman-Supervisory Board & GM-Legal Department: Jin Ping Guo
  • Vice Chairman, President & Executive Director: Dong Jin Wang
  • Chief Financial Officer: Shou Ping Chai
  • Vice President: Long De Sun
  • Vice President: Fu Gui Xu

Share holders

  • Hang Seng Investment Management Ltd.(3.4%)
  • The Vanguard Group, Inc.(3.3%)
  • BlackRock Fund Advisors(2.4%)
  • Value Partners Ltd.(1.7%)
  • China State-Owned Assets Supervision & Admn Commission(1.3%)
  • Norges Bank Investment Management(1.1%)
  • State Street Global Advisors Asia Ltd.(1.0%)
  • Dimensional Fund Advisors LP(1.0%)
  • Allianz Global Investors Asia Pacific Ltd.(0.8%)
  • BlackRock Advisors (UK) Ltd.(0.7%)

Address

  • Website: http://www.petrochina.com.cn
  • Address: No. 9, Dongzhimen North Street, Dongcheng District, Beijing, 100007, China
  • Phone: +86.10.59986223

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