PetroChina Recorded Net Profit over RMB75 Billion in the First Three Quarters of 2021
2021/10/29

On 28 October, PetroChina Company Limited announced that the Company pushed forward its green and low-carbon transformation, production and operation, reform and innovation, and ESG control in the first three quarters of 2021, grasping the favorable opportunities arising from China’s rapid economic recovery, the rebound of the oil and gas market demand and the rise in international oil prices. The oil and gas industry chains maintained stable, and the development quality and efficiency were greatly enhanced. All segments continued to improve their quality and efficiency, and remained profitable.

In the first three quarters of 2021, according to IFRS, the Company achieved a revenue of RMB1,880.34 billion, representing an increase of 31.8% year-on-year. The net profit attributable to owners of the Company amounted to RMB75.13 billion, representing an increase of 646.3% year-on-year and a two-year average growth rate of 42%. The substantial growth in free cash flows enabled the Company to maintain a sound financial position and its leading position in the industry.

PetroChina Company Limited is a joint stock limited company incorporated on November 5, 1999, upon the restructuring of China National Petroleum Corporation (CNPC).