PetroChina : Proposed Amendments to Business Scope and AOA

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中國石油天然氣股份有限公司

PETROCHINA COMPANY LIMITED

(a joint stock limited company incorporated in the People's Republic of China with limited liability)

(Stock Code: 857)

PROPOSED AMENDMENTS TO THE BUSINESS SCOPE

AND

PROPOSED AMENDMENTS TO THE ARTICLES OF ASSOCIATION

The board of directors (the "Board") of PetroChina Company Limited (the "Company", together with its subsidiaries, the "Group") announces that the Board has proposed to amend the business scope of the Company and the articles of association of the Company (the "Articles of Association"). The proposed amendments to the business scope of the Company and the proposed amendments to the Articles of Association will be submitted to the shareholders of the Company (the "Shareholders") for review and approval by way of special resolutions at a general meeting.

PROPOSED AMENDMENTS TO THE BUSINESS SCOPE

According to the actual situation of the business development of the Company, in order to fulfill the needs of exploration and exploitation of crude oil and gas resources and geothermal resources and the production and operation needs of some of our refined products, and to adapt the needs of operations of electronic sales platform, the Board has considered and approved the resolution on amendments to the business scope of the Company, which contemplates making the following adjustments on the business scope of the Company:

1. "the exploration and production of crude oil and natural gas" being changed to "the exploration, exploitation and sales of resources including crude oil, natural gas, coalbed methane, shale gas, shale oil and gas hydrate" and expanding to include "the exploration, exploitation and usage of geothermal";

1. expanding to include "manufacture and sale of food additives; manufacture and sale of nonwoven fabrics"; and
2. expanding to include "value-added telecommunications services, online platform, online information services, online data services, and online wholesale and retail services".

The proposed amendments to the business scope of the Company are subject to the satisfaction of the following conditions:

1. a special resolution passed by the Shareholders at a general meeting to approve the proposed amendments to the business scope of the Company; and
2. all the necessary approval, authorization, filing and/or registration obtained from the relevant authorities for the proposed amendments to the business scope of the Company.

The amended business scope of the Company will take effect upon satisfaction of the above conditions.

PROPOSED AMENDMENTS TO THE ARTICLES OF ASSOCIATION

In view of the proposed amendments to the business scope of the Company, the Board proposed to amend Article 11 of the Articles of Association.

The resolution on the proposed amendments to the Articles of Association is subject to the approval by the Shareholders by way of special resolution at a general meeting.

The details of the proposed amendments to the Articles of Association are set out below：

Current Article	Article after the proposed amendments
Article 11 The Company's scope of	Article 11 The Company's scope of
business includes:	business includes:
Licensed business: the exploration and	Licensed business: the exploration,
production of oil and natural gas; the	exploitation and sales of resources
storage and sale of crude oil; the storage	including crude oil, natural gas, coalbed
and sale of refined oil; the production of	methane, shale gas, shale oil and gas
dangerous chemicals; the sale of food	hydrate; the exploration, exploitation and
(including food and beverages, but limited	usage of geothermal; the storage and sale
to branches with food hygiene license); the	of crude oil; the storage and sale of refined
sale of tobacco (but limited to branches	oil; the production of dangerous chemicals;
with tobacco franchised retailing license).	the sale of food (including food and
Retail of prepackaged food, dairy products	beverages, but limited to branches with
and health products; business undertakings	food hygiene license); the sale of tobacco
in gas and hazardous chemicals; fixed and	(but limited to branches with tobacco
skid-mounted gasoline stations as well as	franchised retailing license); retail of
LPG stations; provision of lodgings; retail	prepackaged food, dairy products and

of	books,	newspapers,	periodicals,	health products; business undertakings in
electronic publications and audio-visual	gas and hazardous chemicals; fixed and
products; water and land transportation. The	skid-mounted gasoline stations as well as
scope and term of licensed business shall be	LPG stations; provision of lodgings; retail
consistent with and subject to the relevant	of books, newspapers, periodicals,
permission certificate and license.		electronic publications and audio-visual
							products; water and land transportation;
General business: the production, sale and	manufacture and sale of food additives;
warehousing of refined oil, petrochemical	manufacture and sale of nonwoven fabrics;
and chemical products; import and export;	value-added telecommunications services,
the construction and operation of oil and	online platform, online information
natural gas pipelines; the technical	services, online data services, and online
development, consultation and service for	wholesale and retail services.
oil	exploration	and	production,
petrochemistry and related engineering; the	General business: the production, sale and
sale of materials, equipment and machines	warehousing of refined oil, petrochemical
necessary for production and construction	and chemical products; import and export;
of oil and gas, petrochemicals and pipelines	the construction and operation of oil and
construction; the sale and warehousing of	natural gas pipelines; the technical
lubricating oil, fuel oil, bitumen, chemical	development, consultation and service for
fertilizers, auto parts, commodities and	oil	exploration	and	production,
agricultural materials; and the lease of	petrochemistry	and related	engineering;
premises, machines and equipment. Retail	the sale of materials, equipment and
of textiles and clothing, daily living and	machines necessary for production and
office supplies, sporting and outdoor gears,	construction of oil and gas, petrochemicals
hardware,	furniture,	electrical	and	and pipelines construction; the sale and
electronic	products,	rechargeable	cards,	warehousing of lubricating oil, fuel oil,
birth control products, as well as industrial	bitumen, chemical fertilizers, auto parts,
safety products; acting as an agent for	commodities	and	agricultural materials;
lottery services, payment services (for	and the lease of premises, machines and
public utilities such as payments of water	equipment. Retail of textiles and clothing,
and	electricity	bills),	ticketing,	stationery and sports goods, hardware,
transportation and vehicle			furniture,	electrical	and	electronic
weighing; advertising.				products, rechargeable cards, birth control
							products, as well as industrial safety
The Company's scope of business shall be	products; acting as an agent for lottery
consistent with and subject to the scope of	services, payment services (for public
business approved by the authority	utilities such as payments of water and
responsible for the registration of the	electricity bills),	ticketing, transportation
Company.						and vehicle weighing; advertising.
The Company may, according to the	For items required to be approved by laws,
demand in the domestic and international	operations may be conducted only upon
markets,	the	Company's	development	and with the approval of relevant
ability and the requirements of its business,	authorities.
adjust its scope of business in accordance
with the laws.					The Company's scope of business shall be
							consistent with and subject to the scope of
Subject to and in compliance with laws and	business approved by the authority
administrative	regulations of	the People's	responsible	for	the	registration of the

Subject to and in compliance with laws and administrative regulations of the People's Republic of China ("PRC"), the Company has the rights to raise and borrow money, which includes (without limitation) the rights to borrow money, issue debentures, mortgage or pledge all or part of the Company's interests and to provide guarantees of various forms for the debts of third parties (including, without limitation, subsidiaries or associated companies of the Company) under different circumstances.

Republic of China ("PRC"), the Company	Company.
has the power to raise and borrow money,
which includes (without limitation) the	The Company may, according to the
power to borrow money, issue debentures,	demand in the domestic and international
mortgage or pledge all or part of the	markets, the Company's development
Company's interests and to provide	ability and the requirements of its business,
guarantees of various forms for the debts of	adjust its scope of business in accordance
third parties (including, without limitation,	with the laws.
subsidiaries or associated companies of the
Company) under different circumstances.

The Company confirms that the proposed amendments to the Articles of Association will not affect the existing business and operation of the Company.

A notice and a circular containing, among others, the details of the proposed amendments to the business scope of the Company and proposed amendments to the Articles of Association will be dispatched to the Shareholders in due course.

By order of the Board

PetroChina Company Limited

Secretary to the Board

Wu Enlai

Beijing, the PRC

29 April 2020

As at the date of this announcement, the Board comprises Mr. Dai Houliang as Chairman; Mr. Li Fanrong as Vice Chairman and non-executive Director; Mr. Liu Yuezhen, Mr. Lv Bo and Mr. Jiao Fangzheng as non- executive Directors; Mr. Duan Liangwei as executive Director; and Mr. Lin Boqiang, Mr. Zhang Biyi, Ms. Elsie Leung Oi-sie, Mr. Tokuchi Tatsuhito and Mr. Simon Henry as independent non-executive Directors.