PetroChina has issued its first Corporate Social Responsibility Report, which presents PetroChina's principles of social responsibility and examines the company's efforts in pursuing the notion of social responsibility.

Jiang Jiemin, president of PetroChina, said, "Leveraging the favorable economic environment, China's economic reform and the sustainable economic growth, the company has been delivering good financial results and achieving development since its listing. Such remarkable achievements are also attributed to the company's dedicated staff force, our supportive partners and long term customers. The company endeavors to deliver good results to its shareholders, its customers, its employees and also the community. This notion goes along with PetroChina's principles of social responsibility and is in line with the corporate strategy and mission."

The CSR Report comprises five sections in the areas of energy supply, social interests, HSE, employees and social welfare undertaking. PetroChina says that its primary task in fulfilling social responsibilities is to fuel the economic growth and social development by providing stable energy supply.

The company says it attaches great attention to health, safety and environment, and takes various effective measures to ensure the improvement of HSE management. In 2006, the company invested RMB13.2 billion in eliminating the potential safety and environmental hazards. In 2006, the oil related waste and COD in discharged waste water reduced by 7.22% and 4.92% respectively. The company's efforts in environmental protection have been recognized by the Chinese Government: The West-East Gas Pipeline Project and Xinjiang Shixi Oilfield Development and Construction Project undertaken by PetroChina were awarded the "National Environment-friendly Project" by the State Environmental Protection Administration. In addition, Dushanzi Petrochemical Company and Huanxiling Production Plant of Liaohe Oilfield Company were also titled "National Environment-friendly Enterprises".

In 2006, the company's integrated energy consumption in oil production, refining and producing ethylene products was reduced by 18%, 14%, and 13% year-on-year, respectively. Fresh water for processing one ton of crude oil was reduced by 30%, compared to the data in 2000. For the year of 2006, PetroChina conserved more than 1.3 million tons of standard coal, and around 60 million cubic meters of water.

With full awareness of the significance of clean and new energy development as well as the sustainable community development, PetroChina says it continues to enhance its efforts in developing and utilizing clean energy. The company has constructed the 4,000km West-East Gas Pipeline to transform the rich natural gas resources in western China into economic advantages. With the first Shaanxi-Beijing in operation, the company has also quickly completed the second Shaanxi-Beijing Pipeline. With the increasing supply of gas from the company, the natural gas consumption in Beijing rose to 3.8 billion cubic meters in 2006 and the number of gas consumer households reached 3.21 million.

The company says it makes good efforts in developing bio-energy. PetroChina has established a new energy department to develop renewable energy projects and accelerate the development of bio-energy resources. The company has signed a framework agreement with the State Forestry Administration regarding the development of forest bio-fuel. The company has started the construction of the first phase of the forest bio-fuel energy operation center in Yunnan and Sichuan, marking a significant progress in forest bio-fuel development.

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