PetroChina Maintains Stable Operations for First Three Quarters of 2016

PetroChina Maintains Stable Operations for First Three Quarters of 2016

PetroChina Company Limited (“PetroChina”) announced that despite a challenging operating environment, the Company recorded a number of achievements in oil and gas exploration, maintained relatively high profitability for its overseas output, and made steady progress on key projects in the first three quarters of 2016.

It maintained the safety, stability and control of its production and operations, with the operating results meeting expectations.

The Company achieved this by adhering to the principle of steady development, adjusting and optimizing its production and operating plan in a timely manner in response to the changes in oil prices, and further implementing its measures to broaden revenue sources, reduce costs and improve profitability.

In the face of slumping oil prices and intensified market competition in domestic refined oil products in the first three quarters of 2016,the Company recorded turnover of RMB1,150.437 billion based on International Financing Reporting Standards, representing a decrease of 11.9% over the same period in 2015.

Net profit attributable to the shareholders of the Company reached RMB1 731 billion.

Source: PetroChina

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