PetroChina's new energy business has accelerated, and its investment more than tripled year-on-year last year

Interface News Reporter | Hou Ruining

China National Petroleum Corporation (hereinafter referred to as PetroChina) has accelerated the development of new energy.

On September 21, PetroChina released the "2022 Corporate Social Responsibility Report" (hereinafter referred to as the "Report"), which shows that its newly built wind and solar installed capacity last year exceeded 1.2 million kilowatts, which is six times the sum of the previously built installed capacity. By the end of last year, the company had built a total of more than 1.4 million kilowatts of wind and solar power generation capacity.

In June this year, PetroChina released the "2022 Environmental Protection Bulletin", saying that it invested 7.67 billion yuan in new energy business last year, a year-on-year increase of 252%.

In the same year, the construction of a 300,000 kilowatt grid-connected photovoltaic power generation project in Yumen Oilfield, a subsidiary of PetroChina, was completed, and the first water surface photovoltaic power generation project independently designed and constructed by PetroChina was completed in Daqing Oilfield, with an installed capacity of 18,700 kilowatts.

PetroChina's first wind power project, the 150,000 kW wind and solar power project in Jilin, was connected to the grid, and it also cooperated with the State Power Investment Corporation to acquire a 900,000 kW offshore wind power project in Guangxi.

In terms of hydrogen energy construction, PetroChina added 1,500 tons of high-purity hydrogen production capacity per year last year, and the total production capacity of high-purity hydrogen reached 3,000 tons/year, accounting for more than 60% of the total domestic hydrogen production capacity in the same period, and a total of 35 hydrogen refueling stations (comprehensive service stations) were built, accounting for about 10% of the total number of domestic hydrogen refueling stations.

According to data from the China Hydrogen Energy Alliance, the total domestic hydrogen energy production capacity was 48.82 million tons last year, and 358 hydrogen refueling stations were built.

Last year, PetroChina built a total of 416 charging (swapping) power stations, accounting for a relatively small proportion in China. During the same period, a total of 5.21 million charging piles and 1,973 battery swap stations were built across the country.

In terms of geothermal heating, PetroChina added 10.06 million square meters of geothermal heating area last year, and the cumulative total area of geothermal heating reached 25 million square meters.

In terms of CCUS advanced technology research, PetroChina has developed technologies and equipment for carbon dioxide capture, transportation, injection and storage to achieve low-concentration carbon dioxide capture, utilization and storage, and has given priority to the strategic planning and construction of CCUS regional industrial centers in Songliao, Junggaria, Ordos, Tarim and Hainan.

PetroChina has integrated resources among oil and gas fields and refining and chemical enterprises in Xinjiang, Changqing, Daqing and other regions, and applied CCUS-EOR technology to apply carbon dioxide generated and captured by refining and chemical enterprises to oil and gas exploitation, and improve oil recovery through carbon dioxide flooding.

Last year, PetroChina implemented a CCUS special project in Jilin Oilfield with an annual carbon dioxide injection capacity of 800,000 tons and an annual oil production capacity of 200,000 tons. At present, a total of 2.77 million tons of carbon dioxide have been injected, which is the largest "carbon" injection in China, and the recovery rate of crude oil has increased by more than 25 percentage points.

Under the "dual carbon" goal, oil companies have begun to transform.

In April 2021, PetroChina merged its oil and gas and new energy businesses for the first time, and carried out the construction, development and utilization of new energy in its subordinate oilfields.

According to the plan, PetroChina's green and low-carbon transformation path is divided into three stages. In 2025, it will strive to increase the proportion of new energy production capacity to 7% of its domestic energy supply capacity, and by 2035, it will strive to supply more green and zero-carbon energy than its own fossil energy consumption, so as to realize the three-way world pattern of new energy, oil and natural gas, and basically realize the strategic replacement of heat, electricity and hydrogen for oil and gas business.

Around 2050, PetroChina will strive to achieve "near-zero" emissions, and the production capacity of new energy and new business will reach half of the company's total production capacity.

PetroChina's main business is still oil and gas production and sales, and it is one of the largest oil and gas producers and suppliers in China.

Last year, PetroChina's domestic and foreign oil and gas production was 323 million tons. Among them, the crude oil output exceeded 100 million tons, accounting for 51.3% of the total domestic crude oil production, and the natural gas output was 145.5 billion cubic meters, accounting for 66.8% of the country's total natural gas production.

As of the end of last year, PetroChina managed and operated 88 oil and gas cooperation projects in 32 countries around the world, with overseas oil and gas production exceeding 100 million tons, oil and gas operation production equivalent of 179 million tons, and oil and gas equity production equivalent exceeding 100 million tons.

During the reporting period, PetroChina had 51 oil and gas cooperation projects with 19 countries along the "Belt and Road", achieving an oil and gas equity output of 84.86 million tons, accounting for more than 80% of its total overseas oil and gas equity production.

PetroChina's trade volume in countries along the "Belt and Road" accounts for more than 50% of its annual international trade in petroleum and petrochemical products, and the new contract value of engineering services business is 8 billion US dollars, accounting for 78% of the company's new overseas contract value.