petrochina co ltd -adr (PTR) Key Developments
PetroChina Co. Ltd. Reports Audited Consolidated and Company Earnings Results for the Year Ended December 31, 2014; Provides Capital Expenditure Guidance for the Year 2015
Mar 26 15
PetroChina Co. Ltd. reported audited consolidated and company earnings results for the year ended December 31, 2014. For the year, on consolidated basis, the company reported turnover of RMB 2,282,962 million compared to RMB 2,282,962 million, profit from operations of RMB 169,833 million compared to RMB 188,642 million, profit before income tax expense of RMB 156,759 million compared to RMB 178,063 million and profit attributable to owners of the company of RMB 107,172 million or RMB 0.59 per basic and diluted share compared to RMB 129,599 million or RMB 0.71 per basic and diluted share for the last year. In 2014, the capital expenditures of the group amounted to RMB 291,729 million, representing a decrease of 8.5% from RMB 318,696 million in 2013. Net cash flows from operating activities were RMB 356,477 million compared to RMB 288,529 million for the last year. The increase in cash flow was mainly due to the Group's increased efforts to promote tight balance management of funds, enhance inventory management and increase operating funds.
For the year, the company reported operating income of RMB 1,409,862 million compared to RMB 1,362,289 million, operating profit of RMB 91,521 million compared to RMB 106,975 million, profit before taxation of RMB 103,971 million compared to RMB 139,586 million and profit attributable to owners of the company of RMB 96,864 million or RMB 0.53 per basic and diluted share compared to RMB 134,356 million or RMB 0.73 per basic and diluted share for the last year.
The company anticipated that capital expenditures for the Head Office and Other segment of the group for 2015 will amount to RMB 700 million, which are expected to be used primarily for research activities and development of the IT system. In 2015, the company will continue to cut investment scale, strengthen investment management and total control, try to make 2015 CapEx down 10%, optimizing investment mix, strictly control non-productive CapEx so as to ensure investing on core business and profitable projects.
PetroChina Co. Ltd. Recommends Final Dividend on A and H Shares for the Year Ended December 31, 2014, Payable on or About June 10, 2015 and July 16, 2015, Respectively
Mar 26 15
The Board of PetroChina Co. Ltd. recommended a final dividend of RMB 0.09601 per share (inclusive of applicable tax) for 2014, which is based on 45% of the net profit of the Group for the twelve months ended December 31, 2014 after deducting the interim dividend for 2014 paid respectively on September 19, 2014 (in respect of A shares) and on September 29, 2014 (in respect of H shares). The proposed final dividend is subject to shareholders' review and approval at the forthcoming annual general meeting to be held on May 27, 2015. The final dividend will be paid to shareholders whose names appear on the register of members of the company at the close of trading on June 9, 2015. The register of members of H shares will be closed from June 4, 2015 to June 9, 2015 (both days inclusive) during which period no transfer of H shares will be
registered. The final dividend of A shares and H shares for 2014 will be paid on or about June 10, 2015 and July 16, 2015, respectively.
PetroChina Seeks Acquisitions
Mar 26 15
PetroChina Co. Ltd. (SEHK:857) said that it's in talks with international oil companies about swapping assets in North America to help it ride out a more than 50% slump in crude since June, 2015.
Petrochina Co. Ltd. Announces the Resignation of Liao Yongyuan as Non-Executive Director and Vice Chairman
Mar 17 15
The board of directors of PetroChina Company Limited announced that Mr. Liao Yongyuan has tendered his resignation to the Board on 17 March 2015 and resigned from all his positions in the company, including non-executive Director and Vice Chairman, with immediate effect.
PetroChina Co. Ltd., Board Meeting, Mar 25, 2015
Mar 12 15
PetroChina Co. Ltd., Board Meeting, Mar 25, 2015. Agenda: To approve the annual results of the Company and its subsidiaries for the year ended 31 December 2014 and its publication.