2020 First Quarter Results Presentation...3 65.27 87.55 53.9 72.93 104.2 103.65 100.42 94.83 48.35...
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2020 First Quarter Results Presentation April 2020
Transcript of 2020 First Quarter Results Presentation...3 65.27 87.55 53.9 72.93 104.2 103.65 100.42 94.83 48.35...
2020 First Quarter Results Presentation
April 2020
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Disclaimer
This presentation contains forward-looking statements that involve risks
and uncertainties. These statements are generally indicated by the use of
forward-looking terminology such as “believe”, “expect”, “anticipate”, “estimate”,
“plan”, “project”, “target”, “may”, “will” or other similar words that express an
indication of actions or results of actions that may or are expected to occur in the
future. You should not place undue reliance on these forward-looking statements,
which apply only as of the date of this presentation. These forward-looking
statements are based on our own information and on information from other
sources we believe to be reliable. Our actual results may be materially less
favorable than those expressed or implied by these forward-looking statements
which could affect the market price of our shares.
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65.27
87.55
53.9
72.93
104.2
103.65
100.42
94.83
48.35
37.99
50.64
68.2860.96
54.39
2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020
Average: 62.26Average: 71.16
Average: 72.22
Average: 66.12
Average: 50.14
26.91
27.72
28.11
25.59
27.54
28.41
27.95
28.13
27.55 27.62
27.14
23.30
26.43
27.06
29.73
27.53
27.78
29.85
29.46
28.63
26.77
27.68
24.19
17.75
214.9217.0 221.0
219.8
228.8
233.2
224.2 231.0
266.3
277.4
287.0
239.3243.7
243.6
245.3
225.8
244.9250.0
245.0
233.0
278.0 288.0
296.5
230.5
Source from National Development and Reform Commission: as of 29 February 2020
China's Refined Oil Product Apparent Consumption
Market Situation and Oil & Gas Prices in Q1
Average Realized Crude Oil PriceBrent Crude Oil Spot Price
USD/bbl
bcm
USD/bbl
MM tons
China’s Natural Gas Apparent Consumption
Source from Bloomberg: as of 31 March 2020 Source from PetroChina: as of 31 March 2020
Source from National Development and Reform Commission: as of 29 February 2020
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2020 2019 Change
Revenue 509,098 594,815 -14.4%
(Loss) / profit from
operations-3,379 29,508 -32,887
Net (loss) / profit
attributable to owners of
the Company
-16,230 10,249 -26,479
Basic (loss) / EPS* -0.089 0.056 -0.145
*Basic (loss) / EPS: RMB Yuan
The acquisition of Dalian West Pacific Petrochemical Co., Ltd. was completed in May 2019, and was
accounted for as combination of entities under common control, relevant indicators of the preceding reporting
period were adjusted retrospectively.
Financial highlights for the first three months ended March 31 RMB MM
Financial Highlights for the First Quarter
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59.53 54.39
Q1 2019 Q1 2020
6.63
5.10
Q1 2019 Q1 2020
14,326 14,883
Q1 2019 Q1 2020
Exploration and Production
Operating Profit
RMB MM
Average Realized Crude Price Average Realized Natural Gas Price
USD/bbl USD/ ‘000 cf
337.5 357.6
52.6 56.3
Q1 2019 Q1 2020
Domestic Overseas
Oil & Natural Gas Equivalent Output
MM boe
390.1413.9
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Refining & Chemicals
117 2,953
-6,292
-2,410
Refining Chemicals
Q1 2019 Q1 2020
305.8 276.5
Q1 2019 Q1 2020
Q1 2020 Q1 2019 Change
Total 25,208 29,252 -13.8%
Gasoline 10,967 12,602 -13.0%
Kerosene 2,394 3,080 -22.3%
Diesel 11,847 13,570 -12.7%
Q1 2020 Q1 2019 Change
Ethylene 1,539 1,560 -1.3%
Synthetic Resin 2,473 2,508 -1.4%
Synthetic Fiber
Raw Materials342 372 -8.1%
Synthetic
Rubber246 243 +1.2%
Urea 261 0 -
Crude Processing Volume
Operating Profit
MM bbl
RMB MM
Production of Major Oil Products
Production of Major Chemical Products
‘000 tons
‘000 tons
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Marketing
3,517
-16,593
Q1 2019 Q1 2020
RMB MM
Sales Volume of Major Oil Products
‘000 tons
Q1 2020 Q1 2019 Change
Total 35,478 42,179 -15.9%
Gasoline 14,799 17,762 -16.7%
Kerosene 3,694 4,666 -20.8%
Diesel 16,985 19,751 -14.0%
Operating Profit
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12,58211,359
Q1 2019 Q1 2020
Natural Gas and Pipelines
-3,289
-3,933
Q1 2019 Q1 2020
Operating Profit Net Loss on the Sales of Imported Gas
RMB MM RMB MM
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Demonstrating our Commitment to CSR in the Fight against COVID-19
We made appropriate measures for epidemic
prevention and control to resume work and
production in an orderly manner
We allocated oil and gas resources to
secure a sufficient supply
The refining companies repurposed their production lines
and conducting research and development to boost the
manufacturing of the needed medical supplies
We supported the regions
severely impacted by
COVID-19 and made special
donations to Hubei
province
The natural gas marketing
companies donated natural
gas to dozens of designated
hospitals in Hubei province
The refined oil marketing companies opened green
lanes and convenient tracks to provide round-the-
clock services and resources of all varieties
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Key Tasks and Work Plan in 2020
Adhere to the bottom line thinking of
adjusting expenses based on income
Highlight key projects while
constraining on non-major projects
Cut costs and enhance efficiency
Adhere to a long-term positive response
Optimize crude oil production
based on oil prices
Ensure continued growth
in natural gas production
Adjust and Optimize Business Development
and Investment Plan
Achieve Value of the Oil and
Gas Business Chain
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Actively Respond to Risks and Challenges and Strive to Achieve a Better Performance
Focus on Green and Low-carbon
Development
Focus on Value Creation Focus on Digital Transformation
& Intelligent Development
Focus on Strategic Development
in Resource, Marketing,
Internationalism and Innovation
Media Relations
Tel: (852)2894-6231
Fax: (852)2576-1990
Email: [email protected]
Investor Relations
Tel: (852)2899-2010
Fax: (852)2899-2390
Email: [email protected]
