About CHINA OIL & GAS Company

China Petroleum Group Limited (the “Company”) (stock code: 603) and its subsidiaries (collectively the “Group”) mainly invests in natural gas and energy related businesses. The Group's business includes urban pipeline gas operation, pipeline design and construction; transportation, distribution and sale of compressed natural gas (“CNG”) and liquefied natural gas (“LNG”); and development, production and sale of other upstream energy resources such as crude oil and natural gas. As a gas service provider for urban pipelines, the Group supplies urban natural gas through long-distance pipelines. The group has obtained 71 gas franchises and established an urban pipeline network to provide stable and abundant natural gas resources to local households, businesses and other users. As an unpiped natural gas supplier, the Group has established three LNG plants in Qinghai Province, China. At the same time, the Group has built a number of CNG fueling stations to ensure that the Group's natural gas supply remains stable throughout the year. These facilities help supply natural gas to cities not yet covered by a pipeline network, and are considered an emergency backup gas source for the Group. All types of automobiles, public transportation vehicles, and long-distance passenger vehicles can be converted into natural gas operation systems at an affordable cost. Some provinces will provide subsidies to car owners who are willing to switch their cars to natural gas operating systems. With the support of the national government, the Group provides inexpensive, clean and environmentally friendly natural gas energy to the transportation industry. As an operator of natural gas feeder pipelines, the group has invested in the construction of natural gas pipelines with a total length of about 20,620 kilometers in 13 provinces, cities and autonomous regions. In addition to increasing the revenue from gas pipeline transportation, feeder pipeline construction can also drive the development of the natural gas market along the downstream route. The Group has developed a huge gas transportation and logistics business in China, including the establishment of LNG and CNG transport fleets, enhancing the mobility of the Group's gas supply and expanding its coverage. As a producer of upstream energy resources, the Group is engaged in the development, production and sale of resources such as crude oil and natural gas in Alberta, Canada. The group's oil and gas production business has proven reserves of about 25.95 million barrels of oil equivalent and proven and controlled reserves of about 42.25 million barrels of oil equivalent. The average daily output in 2022 was 5,492 barrels of oil equivalent. The Group's oil and gas production business has an active energy business and a management team with rich experience and excellent performance. It has a stable portfolio of production assets, strong profitability and broad room for growth.