PetroChina Company Limited (PetroChina) was established as a joint stock company with limited liabilities under the Company Law of the People's Republic of China (the PRC) on November 5, 1999 as part of the restructuring of China National Petroleum Corporation (CNPC). In the restructuring, CNPC injected into PetroChina most of the assets and liabilities of CNPC relating to its exploration and production, refining and marketing, chemicals and natural gas businesses.

PetroChina is China 's largest producer of crude oil and natural gas and one of the largest companies in China in terms of sale. Currently, all of the Company's petroleum and natural gas reserves and production-related assets are located in China.

The Company is engaged in a broad range of petroleum-related activities, including:

• Exploration, development and production of crude oil and natural gas;
• Refining, transportation, storage and marketing, including import and export, of crude oil and petroleum products;
• Production and sale of chemical products; and
• Transmission, marketing and sale of natural gas.

The American Depositary Shares (ADSS) and H shares of PetroChina were listed on the New York Stock Exchange and the Stock Exchange of Hong Kong Limited on April 6,2000 and April 7,2000, respectively.

PetroChina possesses fine financial performance with the net profits of RMB 55.2 billion yuan, RMB 45.5 billion yuan and RMB 46.9 billion yuan respectively in year 2000, 2001 and 2002.