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 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 the
Registrant's operating results for the three months ended March 31, 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 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;
- 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.
(COMPANY LETTERHEAD)
PETROCHINA IMPROVES OPERATIONS
IN THE FIRST QUARTER OF 2005
15 April 2005, Beijing - PetroChina Company Limited ("PetroChina" or the
"Company", SEHK: 0857; NYSE: PTR) announced today that its key operational
indicators recorded healthy growth in the first quarter of 2005, compared to the
same period last year. By leveraging the opportunities of high oil prices and
strong domestic demand, the Company has continued to optimize and enhance its
production and operations.
In the first quarter of 2005, the Company accelerated the crude oil and natural
gas production, with total oil and gas output reaching 243 million barrels of
oil equivalent, increasing 14.3 million barrels of oil equivalent or 6.2% from a
year ago. Of which, crude oil stood at 199 million barrels (including overseas
equity oil production of 1.68 million barrels), increasing 7.0 million barrels
or 3.6% from the same period last year.
The Company also produced marketable natural gas of 260.9 billion cubic feet
(including overseas equity gas production of 3.97 billion cubic feet) in the
January to March period, representing an increase of 43.4 billion cubic feet or
20% from the first quarter of 2004.
During the first three months of 2005, the Company's refining and chemical
business as well as major products continued to record steady growth with key
facilities running at their full capacity. The Company processed 187 million
barrels of crude oil, increasing 13.1 million barrels or 7.5% from the first
quarter of 2004. The
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Company produced 5.285 million tons of gasoline in the first three months of
2005, rising 99,000 tons or 1.9% from a year ago. 10.404 million tons of diesel
were produced in the same period, increasing 1.085 million tons or 11.6% from
the first quarter of 2004.
In the first three months of this year, the Company produced 671,000 tons of
synthetic resin and 69,000 tons of synthetic rubber, representing an increase of
1.5% and 4.5%, respectively, from the same period of 2004.
The Company has made further progress in its key pipeline projects in the first
quarter of 2005. The construction of oil pipeline between the Alashankou Pass
and the Dushanzi oil refinery in Xinjiang has been proceeding smoothly. The
Company also accelerated the construction of the Second Shaanxi-Beijing Pipeline
and Hunan Xiangtan branch of the Zhongxian-Wuhan Pipeline. Both gas pipelines
are expected to be put into operation by July 2005.
Looking forward, PetroChina will continue to capitalize on the market
potentials, both at home and abroad, with an aim to achieve sustainable,
effective and rapid growth. The Company will also continue to implement its
full-year work plans while proactively adapting to market changes, enhancing
operations and profitability, as well as taking efforts to reach its full-year
operational targets.
# # #
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 3551
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: April 15, 2005 By: /s/ Li Huaiqi
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Name: Li Huaiqi
Title: Company Secretary