CONFORMED COPY
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 6-K
REPORT OF FOREIGN ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16 OF
THE SECURITIES EXCHANGE ACT OF 1934
For the month of October 2007
PETROCHINA COMPANY LIMITED
16 ANDELU, DONGCHENG DISTRICT
BEIJING, THE PEOPLE'S REPUBLIC OF CHINA, 100011
(Address of Principal Executive Offices)
(Indicate by check mark whether the registrant files or will file annual
reports under cover of Form 20-F or Form 40-F.)
Form 20-F X Form 40-F
--- ---
(Indicate by check mark whether the registrant by furnishing the
information contained in this Form is also thereby furnishing the information to
the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of
1934.)
Yes No X
--- ---
(If "Yes" is marked, indicate below the file number assigned to the
registrant in connection with Rule 12g3-2(b): 82- )
----------
PetroChina Company Limited (the "Registrant") is furnishing under the cover
of Form 6-K the Registrant's press release with respect to its results of
business operations for the third quarter of 2007.
This press release contains "forward-looking statements" within the meaning
of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended. These forward-looking statements
are, by their nature, subject to significant risks and uncertainties. These
forward-looking statements include, without limitation, statements relating to:
-- the Registrant's plan to proceed with its production and operation in an
orderly manner;
-- the Registrant's plan to actively responding to market changes both at
home and abroad; and
-- the Registrant's other future plans and prospects.
These forward-looking statements reflect our current views with respect to
future events and are not a guarantee of future performance. Actual results may
differ materially from information contained in these forward-looking statements
as a result of a number of factors, including, without limitation:
o fluctuations in crude oil and natural gas prices;
o failure to achieve continued exploration success;
o failure or delay in achieving production from development projects;
o failure to complete the proposed acquisition of certain overseas
assets as planned;
o change in demand for competing fuels in the target market;
o continued availability of capital and financing;
o general economic, market and business conditions;
o changes in policies, laws or regulations of the PRC and other
jurisdictions in which the Registrant and its subsidiaries conduct
business; and
o other factors beyond the Registrant's control.
We do not intend to update or otherwise revise the forward-looking
statements in this press release, whether as a result of new information, future
events or otherwise. Because of these risks, uncertainties and assumptions, the
forward-looking events and circumstances discussed in this press release might
not occur in the way we expect, or at all.
You should not place undue reliance on any of these forward-looking
statements.
PETROCHINA COMPANY LOGO (CHINESE CHARACTER)
(CHINESE CHARACTER) PETROCHINA COMPANY LIMITED
PRESS RELEASE (CHINESE CHARACTER) World Tower,16 Ande Road,Dongcheng
District Beijing,100011,P.R.China
(CHINESE CHARACTER) TEL:86-10-84886034;84886037
(CHINESE CHARACTER) FAX:86-10-84886039
-------------------------------------------------------------------------------
PETROCHINA MAINTAINS STABLE GROWTH IN
KEY OPERARIONAL INDICATORS IN THIRD QUARTER OF 2007
15 October 2007, Beijing - PetroChina Company Limited ("PetroChina" or the
"Company", SEHK stock code 0857; NYSE symbol PTR) achieved stable growth in its
key operational indicators during the third quarter of 2007. By realizing
scheduled business plans formulated early this year and implementing operations
in an organized manner, the Company is progressing smoothly towards its
full-year target.
During the reporting period, PetroChina intensified its efforts and strengthened
the organization and management of production. The Company's crude oil
production proceeded smoothly, with total output reaching 212 million barrels.
Natural gas continued its rapid growth with output of marketable natural gas
achieving 378.1 billion cubic feet, achieving a safe and stable gas supply. For
the period from January to September this year, the Company saw a relatively
rapid growth in its oil and gas production as its total accumulated
-------------------------------------------------------------------------------
1
output amounted to 828 million barrels of oil equivalent, representing an
increase of 34.2 million barrels, or 4.3 percent increase from the same period
in 2006. Of this, accumulated crude oil output reached 632 million barrels,
representing an increase of 0.9 percent from the same period last year, while
accumulated output of marketable natural gas stood at 1176.1 billion cubic feet,
representing an increase of 16.8 percent from the same period last year.
In the third quarter of 2007, PetroChina sustained a steady growth in the volume
of crude oil refining as a result of its strenuous efforts in running refining
facilities at full capacity whilst ensuring production safety, further
optimizing resource allocation and production rationality. The Company processed
203 million barrels of crude oil, and produced 5.434 million tons of gasoline,
11.612 million tons of diesel and 0.542 million tons of kerosene. For the period
from January to September this year, the Company processed a total of 611
million barrels of crude oil, representing an increase of 30.4 million barrels,
or 5.2 percent increase from the same period in 2006. Concurrently, the Company
enhanced its refined product mix at appropriate times and proactively
implemented quality upgrades, as well as realising production optimization and
technological reform in some subsidiaries. Additionally, PetroChina's capability
to produce gasoline and diesel
-------------------------------------------------------------------------------
2
complying with the National Phase III and IV Motor Vehicle Emission Standards
has been continuously developed.
The Company's operation and marketing network has been further developed in the
third quarter of 2007. Sales quality and operational effectiveness have been
continuously improved. By the end of September, PetroChina's service stations
totaled 18,846, an increase of 912 stations, or 5.09 percent increase from the
same period last year.
During the reporting period, the Company's chemicals business attained pre-set
production targets with continuous increase in the output of key chemical
products. The Company produced 587 thousand tons of ethylene, 899 thousand tons
of synthetic resin as well as 403 thousand tons of synthetic fibre raw materials
and polymer. For the period from January to September this year, the output of
high value-added products including ethylene increased at a faster pace, with
the accumulated production volume reaching 1.892 million tons of ethylene, 2.896
million tons of synthetic resin, and 1.104 million tons of synthetic fibre raw
materials and polymer. This represented an increase of 24.2 percent, 28.5
percent, and 22 percent respectively from the same period last year.
PetroChina made further progress in major pipeline projects in the
-------------------------------------------------------------------------------
3
third quarter of 2007. Following the completion of the Lanzhou-Yinchuan Gas
Pipeline, linking the West-East Gas Pipeline and Sebei-Xining-Lanzhou Gas
Pipeline, PetroChina's four key natural gas regions -- Tarim, Changqing, Qinghai
and Southwest -- have been successfully connected, creating potentials for
improving sales in the highly-efficient markets. Simultaneously, preliminary
work for the Lanzhou-Zhengzhou-Changsha refined oil pipeline progressed
smoothly. Completion of the pipeline will help to alleviate the tight supply of
refined oil in central and southern China, improving the transmission conditions
of such products.
Looking ahead, PetroChina will proceed with its production and operation in an
orderly manner whilst actively responding to market changes both at home and
abroad working towards achieving its full-year business goals. The Company also
endeavors to maximize returns to its shareholders, the community and the company
staff with good business performance.
###
Additional information on PetroChina is available at the Company's website:
http://www.petrochina.com.cn
Issued by PetroChina Company Limited.
For further information, please contact:
Mr. Mao Zefeng, Assistant Secretary to the Board of Directors
Tel: (852) 2899 2010 Fax: (852) 2899 2390
Email: hko@petrochina.com.hk
Distributed through Hill & Knowlton Asia Ltd. For enquiries, please contact:
Ms. Helen Lam
Tel: (852) 2894 6204 / 9277 7672 Fax: (852) 2576 1990
Email: helen.lam@hillandknowlton.com.hk
-------------------------------------------------------------------------------
4
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this press release to be signed on its behalf by the
undersigned, thereunto duly authorized.
PetroChina Company Limited
Dated: October 15, 2007 By: /s/ Li Huaiqi
------------------
Name: Li Huaiqi
Title: Company Secretary