PetroChina is one of the largest oil product producers and distributors in China. The Company has built many large-scale refineries including three ten-million-ton refineries, and established a terminal distribution network of oil products across China. By December 31, 2006, the total primary distillation capacity reached 940 million barrels, accounting for 37.7% of national total. In 2006, the production of gasoline, diesel oil and kerosene was about 68.318 million tons, accounting for 38.6% of national total; the sale volume of oil product was more than 74.904 million tons, accounting for 43% of national total. In the first half of 2007, total production of gasoline, diesel oil and kerosene was 35.545 million tons and the total sale volume amounted to 40.93 million tons. By June 30, 2007, there were 18,630 service stations owned, operated, licensed by PetroChina, or owned by CNPC, or jointly owned by PetroChina and a third party with supervision and support from the Company. Over the recent years, PetroChina’s share in oil product retail market has been expanding. Production of Major Product Oil of PetroChina in Recent 3 Years Unit: 10,000 tons | 2004 | 2005 | 2006 | Diesel oil | 3,894.2 | 4,300.1 | 4,422.7 | Gasoline | 2,060.6 | 2,141.5 | 2,202.7 | Fuel oil | 429.0 | 381.6 | 349.1 | Naphtha | 494.3 | 487.3 | 631.8 | Bitumen | 194.7 | 148.5 | 160.6 | Kerosene | 196.2 | 197.0 | 206.4 | Lubricant | 146.8 | 152.9 | 148.8 | Paraffin | 114.0 | 113.9 | 105.2 | Total | 7,529.7 | 7,922.7 | 8,227.3 |
Development Plan Following the principle of optimized layout and prioritized development, PetroChina will strengthen construction of refinery bases, optimize the industrial layout, exploit the fruitful markets, reinforce technical innovation and upgrade oil product quality; establish a modern logistics system, and form a flexible, efficient and coordinated marketing system; optimize overall, regional and equipment operations, enhance the overall competitiveness with profitability and efficiency, and promote refining and marketing business to become the new profit driver. PetroChina strives to optimize the enterprise organization and equipment structure, increase crude oil production in a balanced way, enhance main technical and economic indices to reach domestic advanced level, and enhance the ten-million-ton refineries to reach global advanced level. The marketing network will be improved, marketing efficiency will be greatly enhanced, and market share will be further consolidated. |