Q：According to the requirements of the International Maritime Organization (IMO), the sulfur in vessel fuel will be greatly reduced by 2020. How will this affect the Company? (March 6, 2019)
A：PetroChina's vessel fuel is mainly produced by its fuel oil companies, with asphalt as the main product. As a by-product, vessel fuel accounts for a relatively low proportion of the Company's business. Thus, the IMO 2020 regulation will only slightly impact the Company. At present, the Company's production diesel-gasoline ratio is higher than the sales ratio. Improving the vessel fuel standards will lead to the consumption growth of marine low-sulfur diesel, which is conducive to diesel sales. This will make the Company's diesel production and sales capabilities more compatible. (March 7, 2019)
Q：Will the Company continue to increase the spot LNG import ? (February 20, 2019)
A：Whether the Company purchases spot LNG depends on the balance of supply and demand in the market. There will be no new spot LNG purchases when the supply and demand are basically balanced. The Company had several long term LNG contracts at the current stage, which can basically guarantee the utilization rate of LNG terminals. In the near future, we will also widely communicate with suppliers to explore the feasibility of new contracts. (February 21, 2019)
Q：Could you briefly explain the impact to the industry of adopting calorific value measurement as the natural gas trading settlement method? (February 12, 2019)
A：It is an international practice to use calorific value measurement as a natural gas trading settlement method. Part of the Company's imported natural gas and LNG have been measured by calorific value. The calorific value measurement can reflect the natural gas' quality difference and is conducive to ensuring accurate measurements and fairness and to reducing cross-subsidy and settlement disputes. (February 13, 2019)
Q：Does the Company have any new overseas acquisition and joint venture cooperation plan? Where is the primary target area? (January 22, 2019)
A：The Company will continue to focus on quality project opportunities in the Middle East, Latin America and Central Asia, and strengthen cooperation with with resource countries and international oil companies. Meanwhile, the Company will promote the contract extension evaluation and negotiation of the existing contracts in a timely manner. Under the premise of ensuring economic benefits, the Company will steadily expand the scale of its overseas oil and gas business and improve the quality of overseas oil and gas assets. (January 23, 2019)