PetroChina Reports Strong Growth in Q1 2024 with Emphasis on Green Transition

PetroChina announced a significant increase in operational results for the first quarter of 2024, emphasizing a focus on safety, environmental protection, and profitability. The company reported a 10.9% increase in revenue and a 4.7% rise in net profit year-on-year. This growth reflects the successful implementation of strategic marketing and stringent cost controls across its operations.

In its oil and gas sectors, PetroChina experienced a steady increase in output, by 2.6% year-on-year, driven by intensified exploration and enhanced operational efficiency. This sector produced notable increases in crude oil and natural gas outputs, contributing significantly to overall profitability.

The company's commitment to green and intelligent development was evident as they reported considerable advances in their wind, photovoltaic, geothermal, and hydrogen projects. Alongside, PetroChina’s refined product and chemical sectors saw a rise in output, with ethylene and chemical commodity production significantly up from the previous year.

Enhanced integration across production and marketing led to improved operational efficiency within its industrial chain. Coupled with effective cost control and market expansion tactics, the natural gas marketing segment also saw a substantial increase in sales volume and profitability.

Looking ahead, PetroChina plans to maintain focus on innovation, resource optimization, internationalization, and sustainable development to further enhance operational quality and profitability across its diversified business lines.