2019 third quarter results presentation · 3 q3 2019 q3 2018 y -o y change turnover 618,143 607,080...
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2019 Third Quarter Results Presentation
October 2019
2
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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Q3 2019 Q3 2018 Y-o-Y Change
Turnover 618,143 607,080 +1.8%
Profit from Operations 24,720 44,779 -44.8%
Net Profit Attributable to
Shareholders of the Company8,830 21,220 -58.4%
Basic EPS (RMB) 0.048 0.116 -0.068
Financial highlights for the three months ended September 30 RMB Million
Financial Highlights for the Third Quarter
On 31st May 2019, the Company has completed the acquisition of the shares of WEPEC. According to the requirements
of business combination involving entities under common control, the company processed the accounting and audited
the consolidated financial statements, and made changes to the data in the beginning of the year and the comparative
statement. Operational data has also been adjusted accordingly.
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2019 2018 Y-o-Y Change
Turnover 1,814,402 1,726,717 +5.1%
Profit from Operations 95,383 112,153 -15.0%
Net Profit Attributable to
Shareholders of the Company37,253 48,661 -23.4%
Basic EPS (RMB) 0.204 0.266 -0.062
Financial highlights for the nine months ended September 30 RMB Million
Financial Highlights for the First Three Quarters
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Exploration & Production
2,449.5 2,688.0
212.1204.8
Jan-Sep 2018 Jan-Sep 2019
Domestic Overseas
549.2 556.9
114.1 125.8
Jan-Sep 2018 Jan-Sep 2019
Domestic Overseas
663.3
185.3 187.1
40.3 43.7
Q3 2018 Q3 2019
Domestic Overseas
Crude Output
Marketable Natural Gas Output
MM bbl
Bln cf
800.1 862.9
70.4 65.6
Q3 2018 Q3 2019
Domestic Overseas
225.6
2,661.6870.5
2,892.8
230.8
928.5
682.7
MM bbl
Bln cf
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57,884 76,935
Jan-Sep 2018 Jan-Sep 2019
Exploration & Production
318.6 330.9
52.1 54.7
Q3 2018 Q3 2019
Domestic Overseas
957.5 1,005.0
149.5 160.0
Jan-Sep 2018 Jan-Sep 2019
Domestic Overseas
27,99523,307
Oil & Gas Equivalent Output
Operating ProfitRMB Million
Q3 2018 Q3 2019
MM boe
370.7 1,107.0385.6 1,165.0
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Exploration & Production
67.93 61.49
Jan-Sep 2018 Jan-Sep 2019
5.72 5.49
Jan-Sep 2018 Jan-Sep 2019
Average Realized Price of Crude Oil
USD/ ‘000 cfUSD/bbl
Average Realized Price of Natural Gas
Oil and Gas Lifting Cost
11.47 11.28
Jan-Sep 2018 Jan-Sep 2019
USD/bbl
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Refining & Chemicals
30,051
3,410
8,855
3,723
Jan-Sep 2018 Jan-Sep 2019
Refining Chemicals
11,658
2,033
2,557
133
Q3 2018 Q3 2019
Refining Chemicals
289.3 308.5
Q3 2018 Q3 2019
Crude Processing Volume
Operating Profit
868.9 905.9
Jan-Sep 2018 Jan-Sep 2019
MM bbl
RMB Million
38,90614,215
2,166 7,133
RMB Million
MM bbl
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Refining & Chemicals
Production of Major Oil Products
Production of Major Chemical Products
‘000 tons Q3 2019 Q3 2018 Y-o-Y Change Jan-Sep 2019 Jan-Sep 2018 Y-o-Y Change
Refined Oil
Products 29,867 27,132 +10.1% 86,583 81,516 +6.2%
Gasoline 12,496 11,153 +12.0% 37,084 33,260 +11.5%
Kerosene 3,340 2,937 +13.7% 9,378 8,300 +13.0%
Diesel 14,031 13,042 +7.6% 40,121 39,956 +0.4%
‘000 tons Q3 2019 Q3 2018 Y-o-Y Change Jan-Sep 2019 Jan-Sep 2018 Y-o-Y Change
Ethylene 1,307 1,339 -2.4% 4,290 4,008 +7.0%
Synthetic
Resin2,173 2,196 -1.0% 7,018 6,650 +5.5%
Synthetic Fiber
Raw Materials309 360 -14.2% 983 1,032 -4.7%
Synthetic
Rubber202 207 -2.4% 669 630 +6.2%
Urea 460 293 +57.0% 919 802 +14.6%
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6,424
422
Jan-Sep 2018 Jan-Sep 2019
Marketing
Sales Volume of Major Oil Products
Operating ProfitRMB Million
‘000 tons Q3 2019 Q3 2018 Y-o-Y Change Jan-Sep 2019 Jan-Sep 2018 Y-o-Y Change
Sales of
Refined Oil
Products
48,768 46,701 +4.4% 138,680 137,575 +0.8%
Gasoline 20,354 18,000 +13.1% 56,850 55,489 +2.5%
Kerosene 4,889 5,761 -15.1% 15,020 15,184 -1.1%
Diesel 23,525 22,940 +2.6% 66,810 66,902 -0.1%
1,939
-1,475Q3 2018 Q3 2019
RMB Million
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Natural Gas and Pipeline
19,71921,950
Jan-Sep 2018 Jan-Sep 2019
Operating Profit
RMB Million
3,614 3,648
Q3 2018 Q3 2019
RMB Million
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Key Tasks and Plans for the Fourth Quarter of 2019
Strive to Increase domestic
oil and gas reserves,
production and efficiencyStrengthen development
and operation of new
overseas projects
Promote structural
adjustment of refining and
chemical business and
reduce costs and increase
efficiencyStrongly promote volume
and profitability in sales
of refined oil
Promote the efficiency of
natural gas salesStrengthen reform and
innovation
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2019
Target
Jan-Sep 2019
ActualAchieved
Crude Oil Output905.9 682.7 75.4%
(MM bbl)
Marketable Natural Gas Output3,811.0 2,892.8 75.9%
(Bcf)
Oil & Gas Equivalent Output1,541.2 1,165.0 75.6%
(MM boe)
Crude Processing volume
1,170.4 905.9 77.4%(MM bbl)
Key Operating Targets in 2019
Media Relations
Tel: (852)2894-6231
Fax: (852)2576-1990
Email: petrochina@hkstrategies.com
Investor Relations
Tel: (852)2899-2010
Fax: (852)2899-2390
Email: hko@petrochina.com.hk
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