$PTCCY

PETROCHINA CO LTD

CIK:0001108329|SEC Filings

Consolidated Statements of Comprehensive Income - CNY (¥) ¥ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Profit or loss [abstract]
REVENUE	¥ 3,239,167	¥ 2,614,349	¥ 1,933,836
OPERATING EXPENSES
Purchases, services and other	(2,213,080)	(1,770,019)	(1,267,797)
Employee compensation costs	(163,073)	(154,835)	(147,604)
Exploration expenses, including exploratory dry holes	(27,074)	(24,248)	(19,333)
Depreciation, depletion and amortization	(238,036)	(231,269)	(213,875)
Selling, general and administrative expenses	(59,529)	(57,802)	(64,345)
Taxes other than income taxes	(278,055)	(228,003)	(195,850)
Other (expense)/ income, net	(43,660)	12,980	50,905
TOTAL OPERATING EXPENSES	(3,022,507)	(2,453,196)	(1,857,899)
PROFIT FROM OPERATIONS	216,660	161,153	75,937
FINANCE COSTS
Exchange gain	23,772	13,377	14,387
Exchange loss	(25,590)	(12,839)	(14,279)
Interest income	4,738	2,984	3,023
Interest expense	(21,554)	(19,739)	(26,528)
TOTAL NET FINANCE COSTS	(18,634)	(16,217)	(23,397)
SHARE OF PROFIT OF ASSOCIATES AND JOINT VENTURES	15,251	13,267	3,533
PROFIT BEFORE INCOME TAX EXPENSE	213,277	158,203	56,073
INCOME TAX EXPENSE	(49,295)	(43,507)	(22,588)
PROFIT FOR THE YEAR	163,982	114,696	33,485
OTHER COMPREHENSIVE INCOME, Item that will not be reclassified to profit or loss
Fair value changes in equity investment measured at fair value through other comprehensive income	(116)	232	113
Currency translation differences	6,201	(2,045)	(6,893)
Items that are or may be reclassified subsequently to profit or loss
Gains on cash flow hedges	11,273	0	0
Share of the other comprehensive income of associates and joint ventures accounted for using the equity method	654	(4)	(441)
Currency translation differences	3,758	(2,684)	(3,909)
OTHER COMPREHENSIVE INCOME, NET OF TAX	21,770	(4,501)	(11,130)
TOTAL COMPREHENSIVE INCOME FOR THE YEAR	185,752	110,195	22,355
PROFIT FOR THE YEAR ATTRIBUTABLE TO:
Owners of the Company	149,380	92,170	19,006
Non-controlling interests	14,602	22,526	14,479
PROFIT FOR THE YEAR	163,982	114,696	33,485
TOTAL COMPREHENSIVE INCOME FOR THE YEAR ATTRIBUTABLE TO:
Owners of the Company	165,050	89,561	14,634
Non-controlling interests	20,702	20,634	7,721
TOTAL COMPREHENSIVE INCOME FOR THE YEAR	¥ 185,752	¥ 110,195	¥ 22,355
BASIC AND DILUTED EARNINGS PER SHARE ATTRIBUTABLE TO OWNERS OF THE COMPANY(RMB)	¥ 0.82	¥ 0.5	¥ 0.1

Consolidated Statements of Cash Flows - CNY (¥) ¥ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
CASH FLOWS FROM OPERATING ACTIVITIES
Profit for the year	¥ 163,982	¥ 114,696	¥ 33,485
Adjustments for:
Income tax expense	49,295	43,507	22,588
Depreciation, depletion and amortization	238,036	231,269	213,875
Capitalized exploratory costs charged to expense	14,118	12,557	8,934
Safety fund reserve	(691)	(1,750)	(1,505)
Share of profit of associates and joint ventures	(15,251)	(13,267)	(3,533)
Accrual of provision for impairment of receivables, net	1,625	415	343
Write down in inventories, net	8,567	580	8,151
Impairment of other non-current assets	4,653	465	0
Loss on disposal and scrap of property, plant and equipment	20,726	18,959	5,398
(Gain)/loss on disposal and scrap of other non-current assets	(479)	587	(1,142)
Loss/(gain) on disposal of subsidiaries	185	(3,575)	(1,242)
Gain on Pipeline restructuring	0	(18,320)	(46,946)
Fair value loss	2,464	0	0
Dividend income	(15)	(17)	(25)
Interest income	(4,738)	(2,984)	(3,023)
Interest expense	21,554	19,739	26,528
Changes in working capital:
Accounts receivable, prepayments and other current assets	(20,127)	(8,265)	14,751
Inventories	(32,470)	(15,889)	43,645
Accounts payable and accrued liabilities	7,504	2,251	8,410
Contract liabilities	(1,144)	(12,996)	8,987
CASH FLOWS GENERATED FROM OPERATIONS	457,794	367,962	337,679
Income taxes paid	(64,026)	(26,493)	(19,104)
NET CASH FLOWS FROM OPERATING ACTIVITIES	393,768	341,469	318,575
CASH FLOWS FROM INVESTING ACTIVITIES
Capital expenditures	(243,349)	(261,617)	(248,376)
Acquisition of investments in associates and joint ventures	(1,396)	(387)	(2,599)
Prepayments on long-term leases		0	(3,048)
Acquisition of intangible assets and other non-current assets	(1,524)	(3,946)	(5,303)
Acquisition of subsidiaries	(460)	(1,822)	(1,947)
Acquisition of financial assets at fair value through profit or loss	(2,830)	0	0
Proceeds from disposal of property, plant and equipment	(364)	2,746	1,195
Proceeds from disposal of other non-current assets	2,830	4,183	2,224
Proceeds from Pipeline restructuring	3,445	31,074	80,621
Interest received	3,001	2,836	2,532
Dividends received	10,740	12,274	4,778
(Increase)/decrease in time deposits with maturities over three months	(3,064)	1,627	(12,063)
NET CASH FLOWS USED FOR INVESTING ACTIVITIES	(232,971)	(213,032)	(181,986)
CASH FLOWS FROM FINANCING ACTIVITIES
Repayments of short-term borrowings	(800,692)	(758,307)	(797,892)
Repayments of long-term borrowings	(90,637)	(78,127)	(219,770)
Repayments of lease liabilities	(12,730)	(13,016)	(12,794)
Interest paid	(12,298)	(12,821)	(16,700)
Dividends paid to non-controlling interests	(9,547)	(16,508)	(14,264)
Dividends paid to owners of the Company	(54,686)	(39,866)	(28,078)
Cash paid to acquire non-controlling interests	0	(22)	(2)
Increase in short-term borrowings	784,049	681,258	751,157
Increase in long-term borrowings	82,299	128,834	238,335
Cash contribution from non-controlling interests	529	673	613
Capital reduction in subsidiaries paid to non-controlling interests	0	(69)	(5)
NET CASH FLOWS USED FOR FINANCING ACTIVITIES	(113,713)	(107,971)	(99,400)
TRANSLATION OF FOREIGN CURRENCY	7,317	(2,308)	(4,967)
Increase in cash and cash equivalents	54,401	18,158	32,222
Cash and cash equivalents at beginning of the year	136,789	118,631	86,409
Cash and cash equivalents at end of the year	¥ 191,190	¥ 136,789	¥ 118,631

Consolidated Statements of Financial Position - CNY (¥) ¥ in Millions	Dec. 31, 2022	Dec. 31, 2021
NON-CURRENT ASSETS
Property, plant and equipment	¥ 1,492,513	¥ 1,459,296
Investments in associates and joint ventures	269,569	265,785
Equity investments measured at fair value through other comprehensive income	943	1,168
Right-of-use assets	203,065	208,606
Intangible and other non-current assets	69,813	66,344
Deferred tax assets	19,699	12,161
Time deposits with maturities over one year	4,016	8,064
TOTAL NON-CURRENT ASSETS	2,059,618	2,021,424
CURRENT ASSETS
Inventories	167,751	143,848
Accounts receivable	72,028	52,746
Derivative financial instruments	21,133	3,913
Prepayments and other current assets	119,654	112,820
Financial assets at fair value through other comprehensive income	4,376	3,975
Financial assets at fair value through profit or loss	3,876	0
Time deposits with maturities over three months but within one year	33,859	26,747
Cash and cash equivalents	191,190	136,789
TOTAL CURRENT ASSETS	613,867	480,838
CURRENT LIABILITIES
Accounts payable and accrued liabilities	372,369	299,121
Contract liabilities	77,337	78,481
Income taxes payable	16,471	9,915
Other taxes payable	37,043	66,859
Short-term borrowings	100,639	53,275
Derivative financial instruments	11,146	3,881
Lease liabilities	7,560	6,626
Financial liabilities at fair value through profit or loss	1,698	0
TOTAL CURRENT LIABILITIES	624,263	518,158
NET CURRENT LIABILITIES	(10,396)	(37,320)
TOTAL ASSETS LESS CURRENT LIABILITIES	2,049,222	1,984,104
EQUITY ATTRIBUTABLE TO OWNERS OF THE COMPANY:
Share capital	183,021	183,021
Retained earnings	853,585	771,980
Reserves	332,721	308,560
TOTAL EQUITY ATTRIBUTABLE TO OWNERS OF THE COMPANY	1,369,327	1,263,561
NON-CONTROLLING INTERESTS	168,526	145,308
TOTAL EQUITY	1,537,853	1,408,869
NON-CURRENT LIABILITIES
Long-term borrowings	222,478	287,175
Asset retirement obligations	142,081	129,405
Lease liabilities	118,200	123,222
Deferred tax liabilities	21,016	26,638
Other long-term obligations	7,594	8,795
TOTAL NON-CURRENT LIABILITIES	511,369	575,235
TOTAL EQUITY AND NON-CURRENT LIABILITIES	¥ 2,049,222	¥ 1,984,104