18 March 2011, Beijing – PetroChina Company Limited ("PetroChina" or “the Company", HKSE: 0857; NYSE: PTR; SSE: 601857) today issued its 2010 Sustainability Report (“the Report”). This is the fifth consecutive year that PetroChina has published a comprehensive sustainability report to highlight its efforts in fulfilling its social, economic, environmental and safety commitments as a responsible corporate citizen.
The Report reviews the development of PetroChina during the period of the “Eleventh Five-year Plan” (2006-2010), and sums up the efforts and achievements in 2010 in the area of social responsibility. It also sets forth the objectives and measures for the Company’s commitment to the harmonious development of energy, the environment and society by focusing on “shifting the development pattern and improving the sustainability”. The report is divided into four main sections, including “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 safe and stable oil and gas supplies, and makes every attempt to provide clean products and high-quality services for its customers. In the face of the complex macroeconomic environment and frequent natural disasters in 2010, the Company braved the difficulties head-on, analyzed the situations correctly, made decisions scientifically and continuously improved its scale, strength and capacity to ensure energy supply. Oil & gas exploration in China made several key achievements, and domestic production of crude oil maintained rapid growth. The refining & chemicals structure and strategic adjustment made significant progress, with six 10-million-tonne refining bases, four ethylene production bases and two BTX bases being established. The quality of oil products and the service level were improved, and the supply of refined oil increased greatly. Construction of oil & gas passways made great progress, with the nation-wide main oil & gas pipeline network and diversified supply security system taking shape. International operations opened new prospects, as the strategy extended to non-conventional oil & gas cooperation, the Russia-China crude oil pipeline was completed and put into operation, and the integration of upstream and downstream was pushed forward rapidly. In the face of devastating and serious natural disasters and during the preparation and holding of the Shanghai World Expo and the Asian Games, some areas suffered tight oil and gas supply at certain times. Under this situation, the Company responded actively and used best efforts to allocate resources to ensure the safe and stable supply to the markets. The Company was well recognized and appraised by governments and communities at all levels.
—— PetroChina also made great efforts to promote safe and green development, and continued to improve safety and environmental protection in a stable manner.. The Company has established a uniform and institutionalized HSE management system. Hazard control achieved great results. The control of production was enhanced, and steady improvements were made in the emergency management system. In addition, energy-conservation and emissions-reduction were firmly carried out, and trials on the circular economy were carried out in an orderly manner. The growth of total energy consumption was controlled effectively, and unit energy consumption and total emission of main pollutants were substantially reduced, while the production scale was continuously expanded. The Company actively changed its development pattern to ensure that it is in line with the fast-growing low-carbon economy represented by natural gas, fuel ethanol and coal bed methane.. The Company also worked towards creating a clean production and consumption process, and supporting carbon reduction and sequestration actions in the forestry industry, such as carbon sink and clean mechanism, which considerably contributed to mitigating the effects of global climate change.
—— PetroChina takes the comprehensive development of employees seriously and it is one of the Company’s key objectives in corporate development, as we strive to achieve the integration of employees’ benefits with corporate values. The Company consistently employs local people in its overseas projects and seeks a combination of diverse cultures: 94% of the Company’s overseas employees were hired internationally and locally. The strategy of developing the enterprise through talent development: management, professional technology, operational skills and construction of an internationalized talent team was in full swing, and the overall quality of employees was enhanced. The production and living conditions of employees were continuously improved. Social insurance for employees was ensured. Sufficient attention was also paid to the physical and psychological condition 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 initiatives including alleviating poverty, supporting education and participating in building communities, through which win-win situations and mutual benefit were realized and the responsibilities of a good corporate citizen were earnestly performed.
PetroChina sincerely hopes, through continuously improving and issuing the Sustainability Report, the Report can put across its message about the Company’s efforts in social responsibility to people from all sectors of society who support PetroChina’s development. The Report is designed to enhance communication and exchange ideas with the stakeholders and receive feedback and advice from all circles. PetroChina will insist on scientific development, and adhere to the corporate mission of “Energize, Harmonize, Realize”, to implement resource, market and internationalization strategies and to perform its economic, environmental and social responsibilities. The Company will capitalize on every opportunity to speed up development, while effectively promoting structural adjustment and optimization, technical and management innovation, safety, environmental protection and energy saving. The Company also will stress securing and improving people’s lives, strengthening its international competitiveness and sustainability and building a green, internationalized and sustainable PetroChina, making new contributions towards the sustainable development of the economy and society.
Additional information on PetroChina is available at the Company’s website:
Issued by PetroChina Company Limited
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PetroChina Company Limited
Senior Assistant Secretary to the Board
Fax: (010) 6209 9558
Tel: (010) 5998 6262
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EverBloom Investment Consulting Lt. Co.
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