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Global Report About the Report This is China National Petroleum Corporation’s 12th annual Corporate Social Responsibility Report since the establishment of the reporting system in 2006. This report reflects our accomplishments in fulfilling our economic, environmental and social responsibilities. Hereby, we make the following statement on relevant information: Reporting company: China National Petroleum Corporation (CNPC) Alternative reference: China National Petroleum Corporation is also referred to in this report as "CNPC", "the Company", "we" and "us". Timeframe: From January 1 to December 31, 2017.Given the continuity and comparability of the disclosed information, part of the information may be taken forward or backward as necessary. Reporting period: This is an annual report. The 2016 Corporate Social Responsibility Report was issued on May 25, 2017. Reporting principles: Objective, standardized, honest, transparent and substantive. Report content: Our accomplishment in fulfilling our economic, environmental and social responsibilities. Information sources: The Company’s official documents, statistical reports and statistics related to the Company’s subsidiaries. All the information has been reviewed by the Company’s management and its subsidiaries. Report improvements: In order to showcase our social responsibility performance in a more objective, comprehensive and prioritized manner, the 2017 report features some important new issues, such as "strengthen Party self-discipline", "energy revolution", "supply-side structural reform", "green and low-carbon transition" and "Belt and Road". While compiling this report, we carried out on-site investigations on the CSR performance of our affiliated companies, verified the authenticity of enterprises case studies, extensively solicited opinions and suggestions and actively responded to the concerns of all stakeholders. References: The Guideline on Better Fulfilling Social Responsibility by Central Enterprises issued by the State- owned Assets Supervision and Administration Commission (SASAC). We also referred to the Sustainability Reporting Guideline (G4.0) published by the Global Reporting Initiative, Oil and Gas Industry Guidance on Voluntary Sustainability Reporting (2010) co-published by the International Petroleum Industry Environmental Conservation Association and the American Petroleum Institute, ISO26000 Guidance on Social Responsibility by ISO, The 2030 Agenda for Sustainable Development, the Guidance on Social Responsibility Reporting (GB/T 36001-2015) by China National Standardization Management Committee, and China CSR Reporting Guide (CASS-CSR2.0) by CASS. Language: The report is published in Chinese and English. In case of any discrepancy, the Chinese version shall prevail. Access to the report: You may send email to [email protected] or call 8610-59984395 for a hard copy. It is recommended that you download the PDF version of this report at www.cnpc.com.cn or scan the QR code for the mobile version. Contents Sustainable Energy Supply 02 | Chairman' s Message 04 | About Us 21 Energy and Future 05 | Topic Index 22 Technological and Managerial Innovation 26 Clean Energy 06 | Figures in 2017 29 Energy Cooperation 08 | Corporate Governance 10 | Corporate Social Responsibility Management 11 | Communication with Responsible Operation Stakeholders 18 | Special Report: Promoting 37 Safe Operation Energy Cooperation for 40 Environmental Protection Mutual Benefit and Win-win 45 Climate Change Development-CNPC' s Efforts 48 Products and Services in Building the Belt and Road Initiative 51 Supply Chain Management 30 | Special Report: CNPC in the Era of Intelligent Energy 32 | Special Report: Contributing Employee Development CNPC' s Solutions to a Low- 53 Carbon Future Employees' Rights and Interests 54 Career Development Platform 34 | Special Report: Yamal LNG Project Completed and Put 57 Localization and Diversification into Operation 59 Physical and Psychological Health 76 | Performance Data 60 Caring for Employees 77 | Outlook for 2018 78 | Glossary Public Welfare 80 | Index 63 Poverty Alleviation 66 Supporting Education 68 Local Development 69 Humanistic Care 70 Construction of Overseas Communities 02 Chairman' s Message Chairman' s Message I feel very pleased to present the CNPC Corporate Social Responsibility Innovation plays an important role in driving our development. In Report 2017. In 2017, we followed the general principle of seeking 2017, we actively promoted the reform of technological systems and progress while maintaining steady development in the face of profound mechanisms and the implementation of innovation strategies. These adjustments in the global economic pattern and the ever-changing efforts led to new progress in scientific and technological research, energy market. As a result, we made substantial progress while ensuring application of technological achievements, domestic production of stability, taking a solid step forward in our endeavor to build a world- technology and equipment, and information technology application. class integrated international energy company. Specifically, our technology for reservoir exploration evaluation and development in lithologic formations promoted sustained growth of Always bearing in mind that our sustainable development is inseparable reserves and production in the eastern part of Gansu. The supporting from that of society, we strived to explore opportunities, seek technologies for shale gas extraction under depth of 3,500m development, and create shared value with all our stakeholders while effectively enabled the scale development of the Changning-Weiyuan meeting the demand of society and addressing common challenges demonstration zone. The development and application of high-value oil based on the development concept of innovation, coordination, green, products and new products of synthetic materials with high added-value openness and sharing. contributed to the restructuring of the refining business. The centralized regulation system of long-distance oil and gas pipeline networks Deepening reform & innovation and building twin effectively guaranteed the safe operation of pipelines. Additionally, engines to drive development construction of the integrated application of ERP system was completed, Reform is the only way for CNPC to achieve steady development and to application of the cloud technology platform was deepened, capability promote the building of a world-class integrated international energy of data sharing and integrated application was enhanced, digital company. In 2017, we made fresh progress in accelerating the building and intelligent construction was in steady progress, and outstanding of a modern state-owned enterprise system with Chinese characteristics, achievements were made in the information system application. Four improving corporate governance, adjusting and optimizing our structure achievements including the "ASP flooding technology for EOR and and carrying out continuous reorganization, improving the market- industrial application" won the Second Prize of National Science and oriented operating mechanism, developing the mixed ownership economy, Technology Progress Award; and the "Technology for high-diversion, deepening reform of labor, personnel and salary distribution systems, and multi-fracture stimulation of temporary targeting plugging of deep advancing market-oriented and commercial development of the staff reservoirs and application" won the Second Prize of National Technical community service business. In order to strengthen party building, we Invention Award. made every effort to promote the reform of the party building system and We conscientiously implemented the government' s deployment on the incorporated the requirements by party leadership and party building into supply side structural reform, kept increasing income and efficiency while all aspects of corporate governance. 03 cutting cost and expense, and raised overall development quality and and gas cooperation zones and three international oil and gas operation efficiency. In 2017, while our investment was reduced by 10.6% from the centers have been basically established. Based on the principle of amount planned at the beginning of the year, we generated RMB 53.34 "achieving shared growth through discussion and collaboration", we billion in profit and paid RMB 377.36 billion in tax. explored innovative business models and deepened multi-dimensional strategic cooperation with our counterparts and partners at home and Developing clean energy to build low-carbon energy system abroad, so as to jointly respond to major changes in the energy industry and work hard to build a community of shared interests for open, win- In 2017, important steps were taken in the global efforts to build win and mutually beneficial oil and gas cooperation in the new era. Social Responsibility Report2017 Corporate a low-carbon future. The Paris Agreement and the UN Sustainable Development Goals (SDGs) entered into force, setting new goals for In 2017, a great number of major oil and gas cooperation projects addressing climate change and providing modern energy. We actively were put into operation, adding new highlights to the "Belt and Road" took part in cooperation projects of the Oil and Gas Climate Initiative construction. Particularly, numerous achievements were made in oil and (OGCI), including the formulation of the OGCI Low-emission Roadmap gas cooperation in the Central Asia-Russia region. The Second Russia- for 2040 and collaboration with other
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