PetroChina is at the forefront of domestic oil and gas exploration and development. We operate in numerous major oil and gas producing regions such as Daqing, Changqing, Tarim, Southwest area, Xinjiang and Liaohe. In 2024, the domestic oil and gas business achieved crude oil output of 777.0 million barrels, the marketable natural gas output of 4,956.8 billion cubic feet, and the oil and natural gas equivalent output of 1,603.2 million barrels.

The development of new energy and new businesses is indispensable to address climate change and achieve energy transition. PetroChina considers the development of new energies as a driver for the transition towards a green and low-carbon future. As such, we have formulated development plans including “PetroChina’s Carbon Peak Action Plan” and “Action Plan for Accelerating the Integration of Oil and Gas Exploration and Development with New Energy (2023-2025)” to lay out a comprehensive plan for our new energy businesses, accelerated the expansion of new energy businesses such as geothermal energy, wind and photovoltaic power, hydrogen energy, and battery charging (swapping) stations, promoted the integrated development of our oil and gas and new energy businesses and established a “low-carbon energy ecosystem”. In 2024, the Group’s wind and photovoltaic power generation was 4.72 billion kilowatt-hours, representing an increase of 116.2% as compared with 2.18 billion kilowatt-hours; there were 4.954 million kilowatts of newly-added wind and photovoltaic power installation and new geothermal heating contracts covered areas of 75.12 million square meters. The following projects were interconnected to the grid and commenced generating power: the first largescale centralized wind power project in Jilin Oilfield and the first million-kilowatt photovoltaic power station in Golmud, Qinghai. The following projects commenced the construction progress: the wind and photovoltaic power generation in Lindian, Daqing and the 2.64 million kilowatts of new energy and supporting coal-fired power carbon capture integration project in Karamay. The Group accelerated the development of industry-wide carbon capture, utilization and storage (“CCUS”) business.