PetroChina Kicked Off Q1 2024 With High-Quality and Profitable Growth - Seite 2

Remarkable achievements in business transformation and upgrading driven by green and intelligent development. The Company's development gathered momentum as it continuously optimized the business structure and promoted business transformation and upgrading. It bolstered the production and operational management to ensure safe, smooth, sustainable and enhanced operation of production facilities. While striving hard to increase the utilization rate of facilities, it continued to optimize the product structure according to market demand and ramped up the production of highly profitable and featured refined products, new chemical products and new materials. In the first quarter of 2024, the Company processed a total of 354 million barrels of crude oil, up 8.2% year-on-year. The aggregate output of refined products reached 30.482 million tons, up 9.8% year-on-year. The ethylene output grew by 13.5% year-on-year to 2.27 million tons, and the output of chemical commodity products expanded by 16.7% year-on-year to 9.908 million tons. The refining, chemicals and new materials business generated an operating profit of RMB 8.12 billion.

Efficient operation along industrial chain driven by enhanced integration of production and marketing. The Company coordinated the development of overseas and domestic markets, strengthened market analysis and evaluation, enhanced the linkage between supply, production and marketing to ensure the efficient operation of industrial chain, and continued to boost marketing efforts. While continuing to optimize the network layout, it vigorously expanded into profitable and high-end markets and strengthened the quality of marketing. In the first quarter of 2024, the Company sold a total of 39.258 million tons of refined products, up 4.5% year-on-year; of which, a total of 28.545 million tons of refined products were sold domestically, up 4.6% year-on-year. The refined product marketing and international trade business realized an operating profit of RMB 6.76 billion.

Sales volume and profit of natural gas marketing business grew on continuing efforts in cost control and market expansion. The Company effectively controlled the procurement cost by further optimizing the resource pool structure of imported natural gas. It stepped up efforts to expand into profitable and high-end markets, striving hard to boost the sales contribution from direct supply and direct sales to customers and end-user business, thereby enhancing the sales volume and profitability of natural gas marketing business. In the first quarter of 2024,the Company's sales volume of natural gas reached 83.369 billion cubic meters, up 14.2% year-on-year; of which domestic natural gas sales volume reached 67.102 billion cubic meters, up 7.5% year-on-year. The natural gas sales business generated an operating profit of RMB 12.32 billion.