PetroChina Company Limited (PTR) Q2 2022 Earnings Call Transcript

Aug. 25, 2022 10:45 PM ETPetroChina Company Limited (PCCYF)
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PetroChina Company Limited (PTR) Q2 20222 Earnings Conference Call August 25, 2022 5:00 AM ET

Company Participants

Wang Hua - Chief Financial Officer

Dai Houliang - Chairman

Huang Yongzhang - Executive Director and President

Ren Lixin - Executive Director and Senior Vice President

Yang Jigang - Vice President and Chief Engineer

Wan Jun - Vice President

Conference Call Participants

Wang Hua

Ladies and gentlemen, good afternoon. I'm Wang Hua, PetroChina's CFO and Board Secretary. Welcome you all to 2022 Interim Results Announcement. First, allow me to reduce the Board Members in top management present today. They are Mr. Dai Houliang, Chairman of the company; Mr. Huang Yongzhang, Executive Director and President; Mr. Ren Lixin, Executive Director and SVP; Mr. Yang Jigang, VP and Chief Engineer; Mr. Wan Jun, Vice President.

The presentation includes four parts; first, review of the financial performance in H1. Next overview or operation performance, then remarks from the Chairman, followed by our Q&A session. First, the review on the company's financial performance. Built on the seven year high operation performance last year Petro China's sustained growth in H1 and saw all time path in total revenue and net profit attributable to parents with profits groups across business segments, realized oil price averaged $94 per barrel up by $35 year-on-year or 59.2%. Revenue RMB 1.6 trillion up by 34.9%. OP RMB 419 billion or 34.5%. Net profit attributable to owners RMB 82 billion up RMB 29.3 billion or 55.3%. Bits of EPS $0.45 up $0.16 year-on-year. Committed to discipline [indiscernible] with optimize investment structure based on oil process and continue of E&P our multi structural and to quote in some steps in the key projects.

CapEx was RMB 92 billion up 24.9% the skill was visible in control. CapEx E&P was RMB 72.8 billion accounting for 78.9% took RMB 16.8

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