PetroChina Company Limited, Company Intelligence Report

 Published On: May, 2015 |    No of Pages: 155 |  Published By: GlobalData | Format: PDF
Request Free Sample

Summary

PetroChina Company Limited (PetroChina) is an integrated energy company and the largest oil and gas producer and distributor in China. It is a subsidiary of the state-owned China National Petroleum Corporation (CNPC) and is listed on Shanghai Stock Exchange (SSE) under the symbol 601857.SS. CNPC holds an 86.5% stake in PetroChina. The company was formed on November 5, 1999 and was part of the restructuring of CNPC.

PetroChina operates in the upstream, refining and chemical, marketing, and natural gas and pipeline segments. The company's upstream segment handles the exploration, development and production of crude oil and natural gas. Its refining and chemical segment manages the refining, transportation, storage and marketing of crude oil and petroleum products, as well as handling the production and sale of basic petrochemical products, derivative chemical products and other chemical products. The segment also manages the transmission of natural gas, crude oil and refined products. The natural gas and pipeline segment handles the transportation and sale of natural gas. PetroChina is also the largest transporter and seller of natural gas in China in terms of sales volume, and produces two-thirds of China's total oil and gas generation.

Scope

- Key Highlights: This section provides detailed analysis on the company's overall oil and gas value chain, new projects, growth opportunities, new ventures, assets performance, Capex funding, geographical results of oil and gas operations.
- Goals and Strategies: This section provides the upcoming goals and strategies of the company. The section mainly goals and strategies followed by the company in order to meet its upcoming goals.
- SWOT: The report's SWOT section provides the internal strength, weakness, opportunities and threats of company to reflect its strategic positions in the market.
- Production and Development Overview: This section highlights the company's crude oil and natural gas production forecast from its legacy and upcoming assets by region and commodity mix for next five years. The report also covers the detailed information and analysis on the company's producing and development assets.
- Exploration: This section includes detailed explanation and analysis on the company's exploration assets resulted due to new discoveries, new drilling and other activities.
- M&A trends: This section mainly provides information and analysis on the company's recent assets transactions, joint ventures, acquisition, and divestment activities during the last one year. This section highlights the company's status as a buyer or seller during the analyzed period.
- Financial Forecast and Valuation: This section highlights the detailed financial statement forecast for next five years. With the financial statement forecast, this section also provides intrinsic value of the company by using Net Asset Valuation method.
- Peer Group Analysis: This section compares the company's performance with its peer group on the basis of share prices, financial ratios, operational and financial parameters and other related parameters.
- Financial and Operational Metrics: This section covers the company's historical performance on several financial and operational parameters such as Production and Reserves, Reserves Replacement, Costs Incurred, Acreage, Wells, F&D Costs, Oil and Gas Revenue and Expenses etc.

Reasons to buy

The report will enhance the decision-making capability in a more rapid and time sensitive manner. It will allow you to -
- Provide detailed analysis to those who are interested in knowing the companies’ existing and future business strategies.
- Provide in-depth analysis on the companies E&P profiles along with the exploration and M&A updates.
- Provide valuable insights to those who are tracking oil and gas markets and wants to know the intrinsic value of the companies.
- Use the analysis for strategy and planning, M&A identifications, and competitor analysis.

1 Table of Contents
1 Table of Contents 6
1.1 List of Tables 10
1.2 List of Figures 12
2 PetroChina, Company Overview 16
2.1 Exploration and Production 16
2.2 Refining and Chemicals 20
2.2.1 Chemicals 24
2.3 Marketing 27
2.4 Natural Gas and Pipeline 29
3 PetroChina, Key Highlights 35
3.1 Continued Development of Domestic Operations to Drive Growth 35
3.1.1 Exploration and Production 36
3.1.2 Refining and Chemicals 39
3.1.3 Marketing 41
3.1.4 Natural Gas and Pipeline 43
3.2 International Ventures to Strengthen PetroChina's Resource Base and Longer-Term Value 45
4 PetroChina, SWOT Analysis 47
4.1 Strengths 47
4.1.1 Integrated Business Structure 47
4.1.2 Dominant Position in China 47
4.1.3 Incremental Revenue Base 48
4.1.4 Incremental Reserves and Production Base 51
4.2 Weaknesses 53
4.2.1 High Dependence on Oil in the Production Mix 53
4.2.2 Lack of Offshore Presence in China 53
4.3 Opportunities 54
4.3.1 Development of Overseas Oil and Gas Resources 54
4.4 Threats 55
4.4.1 Volatility in Commodity Prices could Adversely Affect Future Growth Plans 55
4.4.2 Intense Competition from Other Industry Participants 55
4.4.3 Environmental Regulations 55
5 PetroChina, Exploration, Development and Production Overview 56
5.1 Exploration and Development Overview 57
5.2 Production Profile 60
5.3 Asset Portfolio 65
5.3.1 China 65
5.3.2 Overseas Oil and Gas 69
6 PetroChina, Capital Expenditure 71
6.1 Exploration and Production 72
6.2 Refining and Chemicals 73
6.3 Marketing 73
6.4 Natural Gas and Pipeline 74
6.5 Head Office and Other 74
7 PetroChina, Forecast Production and Financial Statements 76
7.1 Income Statement (2012-2019) 77
7.2 Balance Sheet (2012-2019) 79
7.3 Cash Flow Statement (2012-2019) 81
8 PetroChina, Valuation 82
8.1 Discounted Cash Flows 82
9 PetroChina, Peer Comparison 84
9.1 Share Price Performance 84
9.2 Operational and Financial Performance 85
9.3 Key Financial and Operational Ratio 90
10 PetroChina Company Limited, Production and Reserves Trends 94
10.1 Total Oil and Gas, Reserves and Production 94
10.1.1 Total Crude Oil and Natural Gas Production and Reserves Trend, 2010-2014 94
10.1.2 Total Crude Oil & Natural Gas Production and Reserves By Country/Region, 2010-2014 96
10.1.3 Total Crude Oil and Natural Gas Reserve Changes, 2010-2014 98
10.2 Crude Oil/Liquids Production and Reserve 99
10.2.1 Crude Oil/Liquids Production and Reserve Trend, 2010-2014 99
10.2.2 Crude Oil Production and Reserves By Country/Region, 2010-2014 100
10.2.3 Crude Oil/Liquids Reserve Changes, 2010-2014 102
10.3 Natural Gas Production and Reserve 103
10.3.1 Natural Gas Production and Reserve Trend, 2010-2014 103
10.3.2 Natural Gas Production and Reserves, By Country/Region, 2010-2014 104
10.3.3 Natural Gas Reserve Changes, 2010-2014 106
10.4 Total Crude Oil and Natural Gas Reserves Life Index 107
10.4.1 Total Crude Oil and Natural Gas Reserves Life Index, 2010-2014 107
10.4.2 Total Crude Oil and Natural Gas Reserves Life Index, By Country/Region, 2010-2014 108
11 PetroChina Company Limited, E&P Costs Trends 111
11.1 Allocation of the Upstream Capital Expenditure 111
11.1.1 Upstream Capital Expenditure, 2010-2014 111
11.1.2 Acquisition Costs By Country/Region, 2010-2014 112
11.1.3 Exploration and Development Costs, By Country/Region, 2010-2014 113
11.2 Oil and Gas Cost Per boe, US$/boe 115
11.2.1 Oil and Gas Cost Per boe, US$/boe, 2010-2014 115
11.2.2 Oil and Gas Cost Per boe, US$/boe, By Country/Region, 2010-2014 117
12 PetroChina Company Limited, Reserve Replacement Ratio 118
12.1 Oil and Gas Production Replacement Ratio 118
12.1.1 Oil and Gas Production Replacement Ratio, 2010-2014 118
12.1.2 Oil and Gas Production Replacement Ratio, By Country/Region, 2010-2014 120
13 PetroChina Company Limited, Results of Oil & Gas Operations Trend 121
13.1 Oil and Gas Revenue and Expenses 121
13.1.1 Oil and Gas Revenue and Expenses, 2010-2014 121
13.1.2 Oil and Gas Revenue and Expenses, By Country/Region, 2010-2014 123
13.2 Oil and Gas Revenue and Expenses, Per boe 132
13.2.1 Oil and Gas Revenue and Expenses, By boe, 2010-2014 132
13.2.2 Oil and Gas Revenue and Expenses Per boe, By Country/Region, 2010-2014 133
13.3 Oil and Gas Performance Metrics 141
14 PetroChina Company Limited, Land Holdings and Well Data 142
14.1 Developed and Undeveloped Acreage 142
14.1.1 Gross and Net Developed and Undeveloped Acreage, 2010-2014 142
14.1.2 Gross and Net Developed and Undeveloped Acreage, By Country/Region, 2010-2014 143
14.2 Well Statistics 144
14.2.1 Producible Oil and Gas Well, 2010-2014 144
14.2.2 Producible Oil and Gas Well, By Country/Region, 2010-2014 145
14.2.3 Exploration and Development Wells Drilled, 2010-2014 146
14.2.4 Exploration and Development Wells Drilled, By Country/Region, 2010-2014 148
15 Appendix 149
15.1 Abbreviations 149
15.2 Sources 151
15.3 Research Methodology 153
15.3.1 Coverage 153
15.3.2 Secondary Research 153
15.3.3 Primary Research 154
15.4 Disclaimer 154

1.1 List of Tables
Table 1: PetroChina, Crude Oil and Natural Gas Reserves, 2012-2014 18
Table 2: PetroChina, Oil and Gas Production by Region, 2012-2014 19
Table 3: PetroChina, Refined Products (‘000 Tons), 2012-2014 21
Table 4: PetroChina, Refineries, Operating Statistics (mbd), 2012-2014 22
Table 5: PetroChina, Refined Products, (‘000 Tons), Q1 2014 and Q1 2015 23
Table 6: PetroChina, Chemical Products, Production Volumes (‘000 Tons), 2012-2014 24
Table 7: PetroChina, Chemical Products, Production Volume (‘000 Tons), Q1 2014 and Q1 2015 25
Table 8: PetroChina, Chemical Products, Sales Volume (‘000 Tons), 2012-2014 25
Table 9: PetroChina, Refining and Chemicals, Summary, 2013-2014 26
Table 10: PetroChina, Refined Products Sales Volume, Tons (‘000), 2012-2014 28
Table 11: PetroChina, Marketing, Summary, 2013-2014 28
Table 12: PetroChina, Natural Gas and Pipeline, 2012-2014 30
Table 13: PetroChina, Financial and Operational Overview, 2011-2014 33
Table 14: PetroChina, Total Revenue by Segment (CNY bil), 2009-2014 50
Table 15: PetroChina, Wells Drilled By Region, 2011-2014 59
Table 16: PetroChina, Oil and Gas Production, 2010-2014 61
Table 17: PetroChina, Productive Wells by Region, 2011-2014 61
Table 18: PetroChina, Oil and Gas Production by Region, 2012-2014 62
Table 19: PetroChina, Total Oil and Gas Production, 2012-2019 64
Table 20: PetroChina, Capex by Activity (CNY bil), 2010-2014 71
Table 21: PetroChina, Total Oil and Gas Production, 2012-2019 76
Table 22: GlobalData, Price Forecasts, 2015-2019 76
Table 23: PetroChina, Income Statement (CNY mil), 2012-2019 77
Table 24: PetroChina, Balance Sheet (CNY mil), 2012-2019 79
Table 25: PetroChina, Cash Flow Statement (CNY mil), 2012-2019 81
Table 26: PetroChina, Free Cash Flow Calculation (CNY mil), 2015-2019 82
Table 27: PetroChina, Discounted Cash Flow Calculation, 2014 83
Table 28: PetroChina and Peers, Operational and Financial Performance, 2014 85
Table 29: PetroChina, Peer Group Comparison, Reserves and Production (mmboe), 2014 88
Table 30: PetroChina and Peers, Financial and Operational Ratios, 2014 91
Table 31: PetroChina, Total Crude Oil and Natural Gas, Production and Reserves, mmboe, 2010-2014 95
Table 32: PetroChina, Total Crude Oil & Natural Gas Production and Reserves, By Country/Region, mmboe, 2010-2014 97
Table 33: PetroChina, Total Crude Oil and Natural Gas Reserve Changes, mmboe, 2010-2014 98
Table 34: PetroChina, Crude Oil Production and Reserves Metrics, mmbbl, 2010-2014 99
Table 35: PetroChina, Crude Oil Production and Reserves, By Country/Region, mmbbl, 2010-2014 101
Table 36: PetroChina, Crude Oil Reserve Changes, mmbbl, 2010-2014 102
Table 37: PetroChina, Natural Gas Production and Reserves Metrics, bcf, 2010-2014 103
Table 38: PetroChina, Natural Gas Production and Reserves, By Country/Region, bcf, 2010-2014 105
Table 39: PetroChina, Natural Gas Reserve Changes, bcf, 2010-2014 106
Table 40: PetroChina, Oil and Gas Reserves Life Index, Years, 2010-2014 107
Table 41: PetroChina, Oil and Gas Reserves Life Index, By Country/Region, Years, 2010-2014 110
Table 42: PetroChina, Upstream Capital Expenditure, US$ mil, 2010-2014 111
Table 43: PetroChina, Proved and Unproved Acquisition Costs, By Country/Region, US$ mil, 2010-2014 112
Table 44: PetroChina, Exploration and Development Costs, By Country/Region, US$ mil, 2010-2014 114
Table 45: PetroChina, Reserves Replacement, Finding and Development Costs, Finding Cost and Proved Acquisition Costs Per boe, US$/boe, 2010-2014 116
Table 46: PetroChina, Reserves Replacement, Finding and Development Costs, Finding Cost and Proved Acquisition Costs Per boe, US$/boe, By Country/Region, 2010-2014 117
Table 47: PetroChina, Oil and Gas Production Replacement Ratio, %, 2010-2014 119
Table 48: PetroChina, 3-Year Wt.Avg. Oil and Gas Production Replacement Ratio, By Country/Region, %, 2010-2014 120
Table 49: PetroChina, Revenue and Expenses, US$ mil, 2010-2014 122
Table 50: PetroChina, Revenue and Expenses, By Country/Region, US$ mil, 2010-2014 131
Table 51: PetroChina, Oil and Gas Revenue and Expenses, US$/boe, 2010-2014 132
Table 52: PetroChina, Oil and Gas Revenue and Expenses, US$/boe, By Country/Region, 2010-2014 140
Table 53: PetroChina, Oil and Gas Performance Metrics, 2010-2014 141
Table 54: PetroChina, Land Holdings (Developed and Undeveloped Acreage), Acres, 2010-2014 142
Table 55: PetroChina, Land Holdings (Developed and Undeveloped Acreage), By Country/Region, Acres, 2010-2014 143
Table 56: PetroChina, Producible Oil and Gas Wells, 2010-2014 144
Table 57: PetroChina, Producible Oil and Gas Wells, By Country/Region, 2010-2014 145
Table 58: PetroChina, Exploratory and Developed Wells, 2010-2014 146
Table 59: PetroChina, Exploratory and Developed Wells, By Country/Region, 2010-2014 148

1.2 List of Figures
Figure 1: PetroChina, China, Operational Map, Exploration and Production Segment, 2014 17
Figure 2: PetroChina, China, Operational Map, Refining and Chemicals Segment, 2014 20
Figure 3: PetroChina, China, Marketing Segment Operational Map, 2014 27
Figure 4: PetroChina, China, Natural Gas and Pipeline Segment Operational Map, 2014 29
Figure 5: PetroChina, Key Domestic Pipelines Operational Map, 2014 31
Figure 6: PetroChina, Financial and Operational Overview, 2011-2014 32
Figure 7: PetroChina, Share Performance, April 2014-March 2015 34
Figure 8: PetroChina, Core Business Overview, 2015 35
Figure 9: PetroChina, China, Exploration Discoveries, 2014 37
Figure 10: PetroChina, Exploration and Production, Revenue (CNY bil), 2009-2014 38
Figure 11: PetroChina, Refining and Chemicals, Revenue (CNY bil), 2009-2014 40
Figure 12: PetroChina, Marketing, Revenue (CNY bil), 2009-2014 42
Figure 13: PetroChina, Natural Gas and Pipeline Revenue, 2009-2014 44
Figure 14: PetroChina, International Operations, 2014 45
Figure 15: PetroChina, Total Revenue (CNY bil), 2009-2014 49
Figure 16: PetroChina, Total Revenue by Segment (CNY bil), 2009-2014 50
Figure 17: PetroChina, Reserves and Production (mmboe), 2010-2014 51
Figure 18: PetroChina, Operational Map, 2014 56
Figure 19: PetroChina, Net Productive and Dry Exploratory and Development Wells, 2010-2014 58
Figure 20: PetroChina, Production (mmboe), 2012-2019 63
Figure 21: PetroChina, Production Mix (%), 2012-2019 64
Figure 22: PetroChina, Longwangmiao Gas Reservoir, 2014 67
Figure 23: PetroChina, Overseas Oil and Gas, 2014 70
Figure 24: PetroChina, Capex by Segment (CNY bil), 2015 75
Figure 25: PetroChina and Peers, Relative Share Price Performance Index (%), April 2014-March 2015 84
Figure 26: PetroChina and Peers, Financial and Operational Parameters (US$/boe), 2014 86
Figure 27: PetroChina, Peer Group Comparison, F&D Cost and Reserve Replacement Comparison, 2014 87
Figure 28: PetroChina and Peers, Reserves and Production (mmboe), 2014 88
Figure 29: PetroChina and Peers, Reserve Life Index (Years), 2014 89
Figure 30: PetroChina and Peers, Valuation Ratios, 2014 93
Figure 31: PetroChina, Total Crude Oil and Natural Gas, Production and Reserves, mmboe, 2010-2014 94
Figure 32: PetroChina, Total Oil & Gas Reserves, End of Period, By Country/Region, mmboe, 2010-2014 96
Figure 33: PetroChina, Total Oil & Gas Production, By Country/Region, mmboe, 2010-2014 97
Figure 34: PetroChina, Total Crude Oil and Natural Gas Reserve Changes, mmboe, 2014 98
Figure 35: PetroChina, Crude Oil Production and Reserves Metrics, mmbbl, 2010-2014 99
Figure 36: PetroChina, Oil Reserves, End of Period, By Country/Region, mmbbl, 2010-2014 100
Figure 37: PetroChina, Oil Production, By Country/Region, mmbbl, 2010-2014 101
Figure 38: PetroChina, Crude Oil Reserve Changes, mmbbl, 2014 102
Figure 39: PetroChina, Natural Gas Production and Reserves Metrics, bcf, 2010-2014 103
Figure 40: PetroChina, Gas Reserves, End of Period, By Country/Region, bcf, 2010-2014 104
Figure 41: PetroChina, Gas Production, By Country/Region, bcf, 2010-2014 105
Figure 42: PetroChina, Natural Gas Reserve Changes, bcf, 2014 106
Figure 43: PetroChina, Oil and Gas Reserves Life Index, Years, 2010-2014 107
Figure 44: PetroChina, Gas Reserve Life Index, By Country/Region, Years, 2010-2014 108
Figure 45: PetroChina, Oil & Gas Reserve Life Index, By Country/Region, Years, 2010-2014 109
Figure 46: PetroChina, Oil Reserve Life Index, By Country/Region, Years, 2010-2014 110
Figure 47: PetroChina, Upstream Capital Expenditure, US$ mil, 2010-2014 111
Figure 48: PetroChina, Development Costs, By Country/Region, US$ mil, 2010-2014 113
Figure 49: PetroChina, Exploration Costs, By Country/Region, US$ mil, 2010-2014 114
Figure 50: PetroChina, 3-Year Wt.Avg., Reserves Replacement, Finding and Development Costs, Finding Cost and Proved Acquisition Costs Per boe, US$/boe, 2010-2014 115
Figure 51: PetroChina, 3-Year Wt.Avg., Oil and Gas Production Replacement Ratio, %, 2010-2014 118
Figure 52: PetroChina, Revenue and Expenses, US$ mil, 2010-2014 121
Figure 53: PetroChina, Depreciation, Depletion and Amortization From Upstream Oil & Gas Operations, By Country/Region, US$ mil, 2010-2014 123
Figure 54: PetroChina, Exploration Expenses, By Country/Region, US$ mil, 2010-2014 124
Figure 55: PetroChina, Income Tax Provision (Benefit) From Upstream Oil & Gas Operations, By Country/Region, US$ mil, 2010-2014 125
Figure 56: PetroChina, Net Income/ Loss From Upstream Oil & Gas Operations, By Country/Region, US$ mil, 2010-2014 126
Figure 57: PetroChina, Oil & Gas Revenue, By Country/Region, US$ mil, 2010-2014 127
Figure 58: PetroChina, Profit (loss) Before Taxation From Upstream Oil & Gas Operations, By Country/Region, US$ mil, 2010-2014 128
Figure 59: PetroChina, Production Costs, By Country/Region, US$ mil, 2010-2014 129
Figure 60: PetroChina, Total Expenses From Upstream Oil & Gas Operations, By Country/Region, US$ mil, 2010-2014 130
Figure 61: PetroChina, Oil and Gas Revenue and Expenses, US$/boe, 2010-2014 132
Figure 62: PetroChina, Exploration Expenses per boe, By Country/Region, US$/boe, 2010-2014 133
Figure 63: PetroChina, Income Tax/(Benefit) per boe, By Country/Region, US$/boe, 2010-2014 134
Figure 64: PetroChina, Lifting Cost per boe, By Country/Region, US$/boe, 2010-2014 135
Figure 65: PetroChina, Annual Net Income per boe, By Country/Region, US$/boe, 2010-2014 136
Figure 66: PetroChina, Oil & Gas Revenue per boe, By Country/Region, US$/boe, 2010-2014 137
Figure 67: PetroChina, Total DD&A per boe, By Country/Region, US$/boe, 2010-2014 138
Figure 68: PetroChina, Total Revenue per boe, By Country/Region, US$/boe, 2010-2014 139
Figure 69: PetroChina, Oil and Gas Performance Metrics, 2010-2014 141
Figure 70: PetroChina, Land Holdings (Developed and Undeveloped Acreage), Acres, 2010-2014 142
Figure 71: PetroChina, Producible Oil and Gas Wells, 2010-2014 144
Figure 72: PetroChina, Exploratory and Developed Wells, 2010-2014 146


If the above report does not have the information suitable for your business, we can provide custom research that can be lucrative for your business or enhance your profession.