25 March 2010, Beijing — PetroChina Company Limited ("PetroChina" or “the Company", HKSE: 0857; NYSE: PTR; SSE: 601857) today issued its 2009 Sustainability Report (“the Report”). This is the fourth consecutive year that PetroChina has published its report on sustainability to highlight its efforts in fulfilling its social, economic and environmental commitments as a responsible corporate citizen.
Published under the title of Social Responsibility Report in the previous years, the latest 2009 report has changed its title to Sustainability Report to better reflect PetroChina’s commitment to sustainable development, by addressing the concerns of its stakeholders and fulfilling its responsibilities as a corporate citizen and a major international energy company, through measures and initiatives that ensure its business is carried out in a scientific, safe, clean, economical and harmonious manner.
The report brings forth PetroChina’s principle on development, i.e. adherence to the corporate mission of “Energize, Harmonize, Realize”, and the core values of “Credibility, Innovation, Performance, Harmony and Safety” in its business management; persistence in carrying out its business in a more effective, safe and environmental-friendly manner; in pursuit of a balanced development between the economy, environment and society; provision of sustainable energy for economic and social development; and striving for a better future for mankind.
The Report reviews the efforts and experiments by PetroChina in 2009 in the area of social responsibility and takes stock of the Company’s overall performance in fulfilling its economic, environmental and social responsibilities since its establishment ten years ago. The Report, over 32,000 words long in Chinese, is divided into four main sections, namely “Sustainable and Effective Energy Supplies”, “Safe and Clean Production and Operation”, “People-oriented Employee Development”, and “Giving Back to Society”.
—— PetroChina always gives top priority to ensuring oil and gas supplies, and makes every attempt to provide clean products and high-quality services for its consumers. In face of the severe impacts brought by the global financial crisis in 2009, the Company braved the difficulties head-on, found opportunities amid crisis, and continuously improved its scale, strength and capacity to ensure energy supply. The Company’s oil and gas exploration in China entered a new peak period of growth in reserves; domestic production of crude oil maintained at about 100 million tons; the production of natural gas recorded double-digit growth for the seventh consecutive year; a batch of refining and ethylene bases and chemical enterprises were established; significant progress has been made in the construction of major oil and gas pipelines, national oil and gas pipe network as well as the diversified supply security system; the sales operation embarked on a great leap forward program, and helped the Company seize over 38%of the domestic market for refined products; the overseas oil and gas business entered a scaled development phase, as oil and gas cooperation continued to expand. In addition, the Company initiated its contingency plans several times and made every effort to carry out rescue and relief work, whilst ensuring the stability of the market, which has earned its praises from the government and the public.
—— PetroChina made great efforts to promote a safe and green development and continued to improve its safety and environmental protection condition. The Company has established a uniform and institutionalized HSE management system. Hazard control achieved great results. The control on production was enhanced, and steady improvements were made in the emergency management system. Besides, energy-conservation and emission-reduction were firmly carried out. Trials on the circular economy were carried out in an orderly manner. Total energy consumption was under control. Unit energy consumption and total emission of main pollutants were substantially reduced, while the production scale was continuously expanded. The Company proactively changed its development mode to ensure that it is in line with the fast-growing low-carbon economy represented by natural gas, fuel ethanol and coal bed methane. Measures including forest carbon sequestration were taken for carbon reduction and sequestration, which considerably contributed to mitigating the effects of global climate change.
—— PetroChina takes the comprehensive development of its employees seriously and it is one of our key objectives in corporate development, as we strive to achieve the integration of employee’s benefits with corporate values. The strategy of developing the enterprise through talent development, management, professional technology, operational skills and construction of internationalized talent team was in full swing. The overall quality of employees was enhanced. The productivity and living conditions of employees were continuously improved. Social insurance of employees was ensured. Adequate attention was also paid towards to the physical and psychological conditions of employees. The poverty alleviation mechanism that covers underprivileged groups was basically established. As a result, the developments benefited all employees.
—— PetroChina actively promoted strategic cooperation with countries and regions where our businesses were located, in order to advance local economic development and provide local citizens with more employment opportunities. PetroChina was also keen on social welfare undertakings including alleviating poverty, supporting education and participating in building communities, through which win-win situations and mutual benefit were realized and responsibilities of a corporate citizen was earnestly performed.
In order to further promote global sustainable development and arouse the society’s attention on future energy issues, a new section named “Energy Outlook” was included in the 2009 Sustainability Report. PetroChina sees the sustainability of energy supply for mankind as its most fundamental responsibility. The Company also actively explores effective solutions to satisfy the world’s growing demand for clean energy in an effective, safe, economical and environmentally-friendly manner. PetroChina earnestly hopes more people will become more aware of the dire situation in energy consumption and begin to lead a life that helps energy conservation and reduces carbon emissions. .
Mr. Jiang Jiemin, Chairman of PetroChina, says in the Report, “The development of the Company in the recent decade can be attributed to a number of policies implemented, namely normalized and effective corporate governance, adherence to the fundamental guidelines of legal operation, honesty and good faith and standardized management, convergence of operation concept and mode with international practices; promotion of technical innovation to achieve breakthroughs in core technologies, pursuit of management innovation to create a set of system with the characteristics of PetroChina and improve our operational efficiency, and management and risk resistance capability. The achievements mentioned above could not be made without the care, support, participation and supervision from our investors at home and abroad, employees, partners, consumers and clients as well as relevant organizations.”
PetroChina sincerely hopes the Report can put across its messages on social responsibilities to the community and draw their support for PetroChina’s development. PetroChina will insist on following the ideal of scientific development, and adhering to the corporate mission of “Energize, Harmonize, Realize”, to implement resource, market and internationalization strategies and to perform its economic, environmental and social responsibilities, capitalizing on every development opportunity to speed up development, while effectively promoting structure adjustment, energy saving, emissions reduction and technical innovation to further enhance its ability to achieve comprehensive coordinated sustainable development, and to make greater contributions towards the building a harmonious society and a peaceful world.
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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:
PetroChina Company Limited
Hong Kong: Mao Zefeng
Fax: (852) 2899 2390
Tel: (852) 2899 2010
E-mail: hko@petrochina.com.hk
General Administration Department (original PR Department):
Yuan Xinxiang
Fax: (8610) 6209 9558
Tel: (8610) 5998 6037
E-mail: yuanxx@petrochina.com.cn
PR Agency (Overseas media):
Hill & Knowlton Asia Ltd.
Shirley Lo
Fax: (852) 2576 3551
Tel: (852) 2894 6214
E-mail: shirley.lo@hillandknowlton.com.hk
PR Agency (Domestic media):
EverBloom Investment Consulting Ltd. Co.
Shen Di
Fax: (8610) 5977 6211
Tel: (8610) 5166 3828
E-mail: di.shen@everbloom.com.cn