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 April 2006
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 operational
results for the first quarter of 2006.
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 improve operations; 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:
- fluctuations in crude oil and natural gas prices;
- failure to achieve continued exploration success;
- failure or delay in achieving production from development projects;
- failure to complete the proposed acquisition of certain overseas
assets as planned;
- change in demand for competing fuels in the target market;
- continued availability of capital and financing;
- general economic, market and business conditions;
- changes in policies, laws or regulations of the PRC and other
jurisdictions in which the Registrant and its subsidiaries conduct
business; and
- 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.
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: April 18, 2006 By: /s/ Li Huaiqi
--------------------------------
Name: Li Huaiqi
Title: Company Secretary
(CHINESE CHARACTERS)
PETROCHINA COMPANY LIMITED
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World Tower, 16 Ande Road, Dongcheng
(PETROCHINA LOGO) District Beijing, 100011, P.R. China
(CHINESE CHARACTERS) TEL: 86-10-84886034; 84886037
PRESS RELEASE FAX: 86-10-84886039
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PETROCHINA MAINTAINS STABLE OPERATION FOR KEY BUSINESSES
IN FIRST QUARTER OF 2006
17 April 2006, Beijing - PetroChina Company Limited ("PetroChina" or the
"Company", SEHK stock code 0857; NYSE symbol PTR) announced today that its
business operations achieved steady progress in the first quarter of 2006 riding
on strong market demand for oil, gas and chemical products, with business plans
proceeding as scheduled and key operational data advancing on target.
In the first quarter of 2006, PetroChina maintained stable crude oil production
and rapid growth in natural gas output upon careful and systematic planning. The
Company's domestic and overseas exploration and production business segment
recorded oil and gas output of 267 million barrels of oil equivalent,
representing an increase of 15.8 million barrels of oil equivalent, or 6.27
percent, from the same period last year. Crude oil output reached 207 million
barrels, representing a growth of 100,000 barrels from a year earlier, as the
Company prevailed over impact of natural disasters such as unusual
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severe snow storms at some of its oilfields. Output of marketable natural gas
hit 360.2 billion cubic feet, representing a rise of 94.5 billion cubic feet, or
35.5 percent, from the same period in 2005.
The Company's refining segment also saw stable progress during the first quarter
of 2006. Effective resources allocation and production at full gear enabled the
Company to continue to maintain its crude oil refining volume and key product
output at healthy levels. The Company processed 196 million barrels of crude
oil, representing an increase of 5.10 million barrels, or 2.66 percent, from the
first quarter of 2005. The output of gasoline reached 5.684 million tons,
representing a rise of 100,000 tons, or 1.79 percent from a year earlier. The
Company produced 11.075 million tons of diesel in the first quarter of this
year, representing a growth of 371,000 tons, or 3.47 percent, from the same
period in 2005.
In the first three months of 2006, PetroChina produced 480 thousand tons of
ethylene, 755 thousand tons of synthetic resin, and 80 thousand tons of
synthetic rubber, representing an increase of 0.63 percent, 11.19 percent and
15.94 percent, respectively, from a year earlier. The output of synthetic fibre
materials and polymer stood at 302 thousand tons, representing a decrease of
5.33 percent from a year earlier, which was mainly due to marketing factors. The
Company produced 850 thousand tons of urea, representing a decrease of 10.05
percent from a
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year earlier, as the fertilizer production facilities at the Company's Ningxia
petrochemical subsidiary were suspended for routine inspection and maintenance.
PetroChina made new progress in its major pipeline projects in the first quarter
of the year. The Ji-Ning (Hebei to Nanjing) Connection Line of the West-East Gas
Pipeline is finalizing its construction. Additionally, the Company completed 392
kilometers of pipeline welding of the Huai-Wu (Huaiyang to Wuhan) Connection
Line, which, with a design length of 475 kilometers, will link the
Zhongxian-Wuhan Pipeline with the West-East Gas Pipeline and will further
enhance the Company's capacity for steady gas supply. The Alashankou-Dushanzi
crude oil pipeline is poised for full operation.
Looking forward, PetroChina will spare no effort to proceed with its scheduled
business plans laid down early this year. Responding to market changes home and
abroad, the Company will continue to conduct its production and operation in a
smooth and careful manner and further enhance its operational efficiency under
prudent management with an aim to achieve its full-year business goals and
ensure the Company's sustainable growth in the long term.
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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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