21 March 2008, Beijing - PetroChina Company Limited (“PetroChina” or the “Company”, SEHK stock code 0857; NYSE symbol PTR; SSE stock code 601857) publishes its Corporate Social Responsibility Report 2007 today, reporting the Company’s accomplishments and explorations in the realm of social responsibility.
The 2007 Corporate Social Responsibility Report, divided into five main sections – “Active and Effective Energy Development”, “Sustainable and Steady Supply of Oil and Gas”, “Safe and Clean Production and Operations”, “People-oriented – Employee Development” and “Repaying the Society” has about 32,000 words in total. The report mentions that the followings:
--Securing national energy resources is PetroChina’s long-term and foremost social responsibility; the Company has been focusing on increasing oil and gas production, stabilizing market supply to meet the needs for socio-economic development. In 2007, aided by technological innovations and increased investment, PetroChina achieved major breakthroughs, such as the discovery of Nanpu Oilfield in Jidong region, that allowed both new crude oil and natural gas reserves reach record highs. Increased oil and gas supply capabilities have also been further enhanced with the production of oil and gas, possessed crude oil, refined oil and sales achieving historical records and the domestic market share of crude, refined oil and natural gas increasing steadily. To cope with the shortage of diesel oil that hit some regions of the country in the last quarter of 2007, PetroChina optimized its maintenance and repairing programs to increase production while coordinating transportation and logistics to secure diesel imports and procurement, so as to stabilize market supply. Such measures were well received by local government authorities.
--PetroChina is highly concerned about issues such as energy shortages, global climate change and the deterioration of ecosystems, striving to build an energy-saving and environmentally-friendly corporation that protects and preserves the natural environment in order to achieve a harmonious development between man and nature. To support and reinforce the China National Plan for Coping with Climate Change, PetroChina in cooperation with CNPC, the State Forestry Administration and the China Green Fund, has been actively supporting the establishment of the China Green Carbon Fund that builds energy forests in order to absorb and sequestrate carbon dioxide. In addition, PetroChina has launched ten energy-saving and ten emission-reduction projects that strengthened technology upgrade, achieving significant reduction in pollutants emission such as petroleum content in sewage compared with the previous year while expanding the scale of production. PetroChina strives to supply clean energy by increasing natural gas production, supplying National-IV diesel oil to the Beijing market and formulating the new energy “eleventh five-year plan” so as to improve the capacity to supply clean energies.
--In response to increased pressure and challenges to ensure work safety aggravated by expanded production load and scale, PetroChina has continued to implement the “Foundation Year of Safety and Environmental Protection” program to strengthen the prevention against potential hazards. The Company has promoted the establishment of a HSE management system through the optimization of existing systems, upgraded training and improved performance appraisals. Safety and environmental protection accountability protocols are now signed at each level to ensure accountability. As a result, the number of accidents has been significantly reduced, extraordinary and serious accidents are under control and the overall safety and environment protection situation have been steadily improved.
--PetroChina regards the promotion of local economic and social development as another core part of its social responsibility. In order to give back to the society, the Company has strengthened its participation in public welfare activities such as poverty alleviation, donations to education, disaster relief, support to the Olympics and other voluntary services. For instance, the PetroChina National Free Advertising for Agricultural Deep Processing campaign has generated promising results. In overseas communities such as Kazakhstan and Indonesia, PetroChina has upheld principles of sincere cooperation and mutual benefit in business undertakings. While developing its businesses, the Company strives to promote the development of local economies, participate in public welfare, support community development and improve conditions for local people, a fact which is highly appreciated by local governments and people in host countries. Employees are PetroChina’s most precious wealth and resource. As such, the Company has taken a “people-oriented” approach that respects employees’ rights, supports career development, protects employees’ health and shares the results of corporate growth and innovations to realize the alignment between corporate and individual values.
PetroChina applied to join the United Nations Global Compact in July 2007 and has confirmed to support the Ten Principles in areas such as human rights, labor standards, environment and anti-corruption, incorporating these Ten Principles into its development strategy, corporate culture and daily operations. PetroChina is committed to joining other responsible corporate citizens in the world in order to uphold its position as a good “global citizen” and contribute to the development of human society and a harmonious world.
PetroChina has established a reporting system for corporate social responsibility since 2006 and published the first Corporate Social Responsibility Report in early 2007. Built on the previous report, the CSR report publsihed today has included more comprehensive information on PetroChina’s development goals and strategies; as well as its accomplishments in technology, management and system establishment with respect to innovations and sustainability. This year’s report introduces the improved mechanism in observing social responsibilities and shares the CSR objectives and action plans for the upcoming year, portraying the corporate social responsibility framework for PetroChina. Business results and cross-reference to the Guidelines of Sustainable Development Report issued by the Global Reporting Initiative and the Oil and Gas Industry Guidance on Voluntary Sustainability Reporting compiled by the International Petroleum Industry Environmental Conservation Association (IPIECA) /American Petroleum Institute (API) are all included in the appendix.
PetroChina expects the publishing of this Corporate Social Responsibility Report will provide a good understanding on the various efforts made by the Company. PetroChina has been abiding to the principles of "Energize, Harmonize, Realize" to strengthen the awareness in corporate social responsibility and maximize the overall interest of the Company and its stakeholders, while making new contributions to the progress of a prosperous society and the sustainable development of humankind.
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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:
Mr. Mao Zefeng, Assistant Secretary to the Board of Directors
Tel: (852) 2899 2010 Fax: (852) 2899 2390
Email: hko@petrochina.com.hk
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