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MARKETS / BALCAO / Energy / Oil and gas / PCCYF
BALCAO · CRUDE PETROLEUM & NATURAL GAS · LARGE CAP

PetroChina Co. Ltd. PCCYF

8 fiscal years on record · CNY · FY2022 reported · SEC filings only
3 YEARS OF DIVIDEND GROWTH
CNY 3.2T
▲ 23.9% YoY
CNY 149.4B
▲ 62.1% YoY
CNY 150.4B
▲ 88.4% YoY

Slide the table for earlier years · "·" marks a figure not available in our data for that year.

In brief

What this company does

PetroChina explores for, develops, transmits, produces and markets crude oil, natural gas and new energy; refines crude oil and petroleum products; produces and markets basic petrochemical products, derivative chemical products, other chemical products and new materials; markets and trades refined oil products and non-oil products; and sells natural gas. Substantially all of its crude oil and natural gas reserves and production-related assets are located in China. In 2022, crude oil output amounted to 906.2 million barrels and marketable natural gas output reached 4,675.0 Bcf. The company operates 33 enterprises located in nine provinces, four autonomous regions and three municipalities, engaged in the refining of crude oil and petroleum products and in the production and marketing of basic petrochemical products, derivative chemical products, new materials and other chemical products. In the same year those operations processed 1,212.7 million barrels of crude oil, produced 105.354 million tons of refined oil and turned out 31.568 million tons of chemical products. Its marketing network consists of nationwide wholesale distribution outlets and of service stations owned and operated by the company alongside franchised service stations owned and operated by third parties across China. Natural gas is sold primarily to industrial companies, power plants, fertilizer and chemical companies, commercial users and municipal utilities owned by local governments. PetroChina Company Limited was established as a joint stock company with limited liability under the Company Law of the PRC on November 5, 1999, as part of a restructuring in which CNPC transferred to it most of the assets and liabilities relating to exploration and production, refining and marketing, chemicals and natural gas businesses.

Written from the business description in PETROCHINA CO LTD's annual report to the U.S. Securities and Exchange Commission, filed 28 April 2023. Every sentence was checked against that document before publication.

Growth

CNY 3.24T
Revenue, FY2022 · full 8-year series below
Revenue CNY T Net income CNY T
FY2022 · Revenue 3.2 · Net income 0.1
2T3T
2015201820212022
Compound annual growth
+8.8%
+9.8%
+48.4%
+44.7%
+49.4%
+29.4%
3 yrs
5 yrs
10 yrs
15 yrs

Revenue compounded at +9.8% a year over the five years to FY2022 — but profit grew faster: net income at +44.7%.

Compound annual rates per period — left blank where that exact year isn't on file, the series crosses a loss, or (per-share rows) a split falls inside the window.

Profitability

5 cents
of every revenue dollar became profit
Operating margin Net margin
FY2022 · Operating 6.7% · Net 5.1%
2%4%6%
201520182022
ROE
FY2022 · ROE 11.3%
5%10%
201520182022
Three returns, three denominators.
Gross margin·
Operating margin6.7%
Net margin5.1%
EBITDACNY 434.4B

Each CNY of equity produced 11 cents of profit this year.

Cash & shareholders

·
returned in FY2022 · dividends + net buybacks
Free cash flow CNY B
FY2022 · FCF 150.4
100B200B
201520182022
Dividends paid·
Net buybacks·
Share of profit·
Consecutive raises3 years

Total assetsCNY 2.67T
EquityCNY 1.37T
CashCNY 191.2B
Gross debtCNY 323.1B
Net debtCNY 131.9B
Current ratio0.98×

Net debt stands at 10% of equity.

The 8-year record

8 fiscal years
Every figure from documents filed with the SEC · CNY
row low → row highnegative—not applicable◌not available in our data
PCCYF, 8-year financial record
Metric 20222021202020192018201720162015
Revenue CNY B3239.22614.31933.82516.82374.92032.31616.91725.4
Operating income CNY B216.7161.275.9121.8122.970.860.679.3
EBITDA CNY B434.4372.3270.0327.1345.1299.1◌◌
Income tax CNY B49.343.522.636.242.816.315.815.7
Net income CNY B149.492.219.045.753.023.57.935.5
Free cash flow CNY B150.479.970.239.985.9139.284.143.6
EPS, diluted CNY ◌◌◌◌◌◌◌◌
Dividend / sh CNY 0.220.100.090.070.090.06◌◌
Payout % — not applicable: no dividend————————
ROE %11.37.41.63.74.42.00.7◌

Slide the table for earlier years. "—" not applicable · "◌" not available in our data.

Compare

This company against its peers

PetroChina Co. Ltd.vsRecon Technology, Ltd.Same industry: Crude Petroleum & Natural Gas
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Provenance

Company facts, as filed

How we verify · 2 failures in 23 reconciliationsAUDITED

Reconciled in 6 of the 8 fiscal years we could check. 16 checks were skipped: the balance sheet is not tagged before 2015. Eight checks were skipped: the share count is not tagged before 2015.

EPS recomputationBalance-sheet identityGross profitBalance-sheet liquidityCurrency consistency2 failures
ActivityCrude Petroleum & Natural Gas
Listed onOTC market
Incorporated inoutside the United States — SEC code F4
Fiscal year endsDecember 31
Data on record since2015

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