u gas region. As of December 31, 2015, its proved natural gas reserves in the Chuanyu gas region were 13,399.5 Bcf, representing 17.3% of its total proved natural gas reserves. Refining and Chemicals segment The company operates 28 enterprises located in 8 provinces, 4 autonomous regions and 3 municipalities to engage in refining of crude oil and petroleum products, as well as the production and marketing of basic petrochemical products, derivative chemical products and other chemical products. Refined Products: The company produces a range of refined products at its refineries. Some of the refined products are for its internal consumption and used as raw materials in its petrochemical operation. Refineries: Most of the company’s refineries are strategically located close to its crude oil production and storage bases along its crude oil and refined product transmission pipelines and railways, which provide its refineries with secure supplies crude oil and facilitate its distribution of refined products to the domestic markets. Chemicals: Majority of the company’s chemical plants are close to its refineries and are connected to the refineries by pipelines, providing additional production flexibility and opportunities. The company is a major producer of ethylene in China and uses the bulk of the ethylene as a principal feedstock for the production of chemical products, such as polyethylene. The company produces various synthetic resin products, including polyethylene, polypropylene and ABS. As of December 31, 2015, the company’s production capacities for polyethylene, polypropylene and ABS were 5,060 thousand tons, 4,140 thousand tons and 705 thousand tons, respectively. The company’s chemical products are distributed to various industries, including the automotive, construction, electronics, medical manufacturing, printing, electrical appliances, household products, insulation, packaging, paper, textile, paint, footwear, agriculture and furniture industries. Marketing segment The company engages in the marketing of refined products through 37 regional sales companies, including 3 distribution branch companies, 1 lubricants branch company and 1 fuel oil company. These operations include the transportation and storage of the refined products, and the wholesale, retail and export of gasoline, diesel, kerosene, lubricant, asphalt and other refined products. It markets a range of refined products, including gasoline, diesel, kerosene and lubricants, through an extensive network of sales personnel and independent distributors and a wholesale and retail distribution system across China. As of December 31, 2015, the company’s marketing network consisted of nationwide wholesale distribution outlets located in high demand areas across China, particularly in the coastal areas, along major railways and along the Yangtze River; and 20,714 service stations, consisting of 19,982 service stations owned and operated by the company and 732 franchised service stations owned and operated by third parties. The PRC government and other institutional customers, including railway, transportation and fishery operators, are long-term purchasers of the gasoline and diesel that the company produces. It sells gasoline and diesel to these customers at the supply prices for special customers published by the PRC government Wholesale Marketing: The company sells refined products both directly and through independent distributors into various wholesale markets, as well as to utility, commercial, petrochemical, aviation, agricultural, fishery and transportation companies in China. The company’s gasoline and diesel sales also include the amount the company transferred to its retail operations. Natural Gas and Pipeline segment The company is a natural gas transporter and seller in China. It sells natural gas primarily to industrial companies, power plants, fertilizer and chemical companies, commercial users and municipal utilities owned by local governments. In addition, the company also transmits crude oil and refined products in the natural gas and pipeline segment. Markets for Natural Gas: The company sells its
petrochina co ltd -adr
(PTR:New York Consolidated)
No. 9 Dongzhimen North Street
Phone: 86 10 5998 6270
Fax: 86 10 6209 9557www.petrochina.com.cn
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