PetroChina Company Limited provided earnings guidance for the six months ending June 30, 2022. For the period, the company estimated that the net profit attributable to equity holders of the Company for the first half of 2022 will increase by an amount between RMB 26.5 billion and RMB 32.0 billion, representing an increase between 50% and 60%, as compared with the corresponding period of the previous year. The net profit attributable to equity holders of the Company after deduction of non-recurring loss/profit will increase by an amount between RMB 42.0 billion and RMB 48.0 billion as compared with the corresponding period of the previous year.

In the first half of 2022, the Company adhered to the fundamental path of steady progress, overcame the impact of adverse factors such as domestic localized rebound of the COVID-19 pandemic, strengthened the exploration and development of oil and gas, and strived to increase both of the reserve and production. The Company continuously improved the structure of products on market-oriented basis, and vigorously carried out marketing activities. Both volume of production and sales of crude oil and natural gas increased as compared with the corresponding period of the previous year.

The Company strengthened the refined management, adhered to low-cost development, continuingly controlled the cost and expenses in an effective manner, continuously deepened the promotion in quality improvement and profitability enhancement, and kept enhancing the ability of value creation of the two principal industrial chains, namely, the oil and gas. The Company adhered to green and low-carbon transformation, and actively carried out the development of new energy and new materials business in a steady manner.