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 2005
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
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(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
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(If "Yes" is marked, indicate below the file number assigned to the
registrant in connection with Rule 12g3-2(b): 82- )
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PetroChina Company Limited (the "Registrant") is furnishing under the cover
of Form 6-K the Registrant's press release with respect to its operational
results for the third quarter of 2005.
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:
o the Registrant's plan to improve operational efficiency and
profitability;
o the Registrant's plan to realize its full-year operational targets;
and
o 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 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 PRESS RELEASE LETTERHEAD]
PETROCHINA RECORDS STEADY GROWTH
IN THE THIRD QUARTER OF 2005
17 Oct 2005, Beijing - PetroChina Company Limited ("PetroChina" or the
"Company", SEHK: 0857; NYSE: PTR) announced today that it recorded healthy
growth in the third quarter of 2005. All business segments continue to maintain
stable operation, with major operational indicators exceeding those achieved in
the same period of last year.
In the third quarter of 2005, the Company continued to increase crude oil and
natural gas production, with crude oil output reaching 198 million barrels and
marketable natural gas output achieving 257 billion cubic feet. During the first
three quarters of 2005, the Company saw steady growth in oil and gas production
as its accumulated total output having reached 722 million barrels of oil
equivalent, representing an increase of 36.3 million barrels, or 5.3% from the
same period in 2004. Crude oil output amounted to an accumulated 595 million
barrels, representing an increase of 1.7% from the same period last year, while
the accumulated output of marketable natural gas reached 763.3 billion cubic
feet, representing an increase of 26.1% from the same period in 2004.
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During the third quarter of 2005, the Company endeavored to run its refining
facilities at full capacity while ensuring production safety and optimizing
resources allocation. The Company processed 184 million barrels of crude oil,
produced 5.21 million tons of gasoline, 10.687 million tons of diesel and
572,000 tons of kerosene. During the first three quarters of 2005, the Company
processed an accumulated 563 million barrels of crude oil, representing an
increase of 35.30 million barrels or 6.7% from the same period in 2004.
The Company also continued to expand its sales network by leveraging the synergy
of its integrated refinery and marketing segments. By the end of September 2005,
the Company's service stations totaled 17,379, representing an increase of 220
or 1.2% from the same period last year.
In the third quarter of this year, the Company's chemical business continued its
robust performance with the output of key chemical products increasing further.
The Company produced 482,000 tons of ethylene, 724,000 tons of synthetic resin,
67,000 tons of synthetic rubber, and 860,000 tons of urea. During the first
three quarters of 2005, the Company produced a total of 1.423 million tons of
ethylene, 2.035 million tons of synthetic resin, and 2.817 million tons of urea,
representing an increase of 4.0%, 7.6% and 3.1% respectively from the same
period last year.
In the third quarter of 2005, the Company made smooth and rapid progress in
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building its key oil and gas pipelines as scheduled. The Second Shaanxi-Beijing
Pipeline began operation ahead of schedule on 1st July. The line has a trunk
length of 935 kilometers and a designed annual capacity of 12 billion cubic
meters. In addition, construction of the Hebei-Nanjing gas pipeline--a branch of
the West-East Pipeline--as well as the oil pipeline between the Alashankou Pass
and the Dushanzi oil refinery in Xinjiang are proceeding smoothly.
Looking forward into the fourth quarter of 2005, PetroChina will continue to
actively respond to market changes both at home and abroad, enhance operational
efficiency and profitability, as well as take efforts to realize its full-year
operational targets to lay a solid foundation for the Company's sustainable,
effective and rapid growth.
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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 Fax: (852) 2576 1990
Tel: (852) 2894 6204 / 9277 7672 Email: helen.lam@hillandknowlton.com.hk
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SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.
PetroChina Company Limited
Dated: October 20, 2005 By: /s/ Li Huaiqi
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Name: Li Huaiqi
Title: Company Secretary