PetroChina Company Limited Confirmation Letter

Exhibit 4.8

English Translation of Chinese Original

PetroChina Company Limited

Confirmation Letter

This letter refers to the Land Use Rights Leasing Contract (the “Land Lease Contract”) dated March 10, 2000 by and between PetroChina Company Limited (as lessee) (the “Company”, “we”, “us” or “our”) and China National Petroleum Corporation (as lessor) (“CNPC”), and the Supplemental Agreement to Land Use Rights Leasing Contract (the “Supplemental Agreement”) dated August 25, 2011 by and between the Company and CNPC in respect of the parcels of land with an aggregate area of approximately 1,782,970,000 square meters owned by CNPC and its subsidiary or controlled companies, enterprises or units (the “Leased Land”). In accordance with Article 5 of the Supplemental Agreement, adjustments to the area of the Leased Land or the rent may be made by confirmation letter agreed by both parties.

In addition, this letter also refers to the Buildings Leasing Contract (the “Buildings Lease Contract”) dated August 24, 2017 by and between the Company (as lessee) and CNPC (as lessor) in respect of the Company’s lease from CNPC of certain buildings with an aggregate area of 1,152,968.01 square meters owned by CNPC and its subsidiaries or controlled companies, enterprises or units (the “Leased Buildings”). In accordance with Section 11.4 of the Buildings Lease Contract, adjustments to the area of the Leased Buildings or the rent may be made by confirmation letter agreed by both parties.

We hereby confirm as follows in respect of the adjustments to the area of and the rent for the Leased Land under the Land Lease Contract and the Supplemental Agreement and the adjustments to the area of and the rent for the Leased Buildings under the Buildings Lease Contract:

1. Starting from January 1, 2021, the area of and the rent for the Leased Land shall be adjusted in accordance with the “Schedule of Leased Land” attached hereto as Appendix 1. Other than those adjustments to the area of and the rent for the Leased Land under the Land Lease Contract and the Supplemental Agreement, the provisions of the Land Lease Contract and Supplemental Agreement shall remain unchanged.

2. Starting from January 1, 2021, the area of and the rent for the Leased Buildings shall be adjusted in accordance with the “Schedule of Leased Buildings” attached hereto as Appendix 2. Other than those adjustments to the area of and the rent for the Leased Buildings under the Buildings Lease Contract, the provisions of the Buildings Lease Contract shall remain unchanged.

You are hereby notified of our confirmation as set forth above.

PetroChina Company Limited (affixed with the company seal of PetroChina)

Authorized Representative:		/s/
		CHAI Shouping

August 27, 2020

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Appendix 1: Schedule of Leased Land

No.		Business Segments		Area of Plots (in 10,000 m2)				Estimated Annual Rent for 2021 (in RMB10,000)(The actual rent shall be the amount agreed in the executed Land Lease Contract)
I.		Oil & Gasfield Enterprises			105,797.60				488,974.47
1.		Daqing Oilfield Co., Ltd.			60,952.97				308,391.47
2.		PetroChina Liaohe Oilfield Company			5,190.35				12,225.18
3.		PetroChina Changqing Oilfield Company			3,135.91				11,792.11
4.		PetroChina Tarim Oilfield Company			5,683.74				18,574.67
5.		PetroChina Xinjiang Oilfield Company			9,797.74				54,867.39
6.		PetroChina Southwest Oil & Gasfield Company			1,474.23				5,218.16
7.		PetroChina Jilin Oilfield Company			4,341.35				20,055.24
8.		PetroChina Dagang Oilfield Company			2,371.59				20,634.18
9.		PetroChina Qinghai Oilfield Company			929.75				2,492.94
10.		PetroChina Huabei Oilfield Company			1,767.42				3,629.74
11.		PetroChina Tuha Oilfield Company			7,770.82				21,810.83
12.		PetroChina Jidong Oilfield Company			1,274.88				6,505.45
13.		PetroChina Yumen Oilfield Company			1,106.86				2,777.11
II.		Refineries			7311.88				68,548.99
1		PetroChina Daqing Petrochemical Company			1,245.94				8,669.34
2		PetroChina Jilin Petrochemical Company			244.59				3,220.47
3		PetroChina Fushun Petrochemical Company			743.66				8,150.05
4		PetroChina Liaoyang Petrochemical Company			925.90				7,905.64
5		PetroChina Lanzhou Petrochemical Company			496.51				6,972.15
6		PetroChina Dushanzi Petrochemical Company			785.31				5,698.58
7		PetroChina Urumqi Petrochemical Company			976.91				5,194.40
8		PetroChina Ningxia Petrochemical Company			121.48				500.00
9		PetroChina Dalian Petrochemical Company			223.40				4,064.74
11		PetroChina Jinzhou Petrochemical Company			312.17				4,871.33
12		PetroChina Jinxi Petrochemical Company			373.73				3,962.10
13		PetroChina Daqing Refinery Company			12.42				64.05
14		PetroChina Harbin Petrochemical Company (Harbin Refinery)			97.23				1,575.01
15		PetroChina North China Petrochemical Company			69.06				324.56
16		PetroChina Huhhot Petrochemical Company			256. 78				2,062.68
17		PetroChina Liaohe Petrochemical Company			142.63				2,570.93
18		PetroChina Changqing Petrochemical Company			3.91				143.00
19		PetroChina Karamay Petrochemical Company			280.24				2,599.96
III.		Natural Gas and Pipeline Storage and Transportation Enterprises			959.83				8,005.75
1		PetroChina Pipeline Company			498.94				5,730.98
2		PetroChina West Pipeline Co., Ltd.			460.89				2,274.77
IV.		Marketing Companies			101.11				1,707.58
1		PetroChina Qinghai Marketing Company			84.63				381.08
2		PetroChina Xinjiang Marketing Company			16.48				1,326.50
V.		Scientific Research and Social Institutions			2.30				80. 16
1		CNPC Science and Technology Research Institute			2.04				78.60
2		PetroChina HK			0.26				1. 56
Total					114,172.71				567,316.95

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Appendix 2: Schedule of Leased Buildings

No.		Business Segments		Area of Plots (in m2)				Estimated Annual Rent for 2021 (in RMB) (The actual rent shall be the amount agreed in the executed Land Lease Contract)
I.		Oil & Gasfield Enterprises			644,857.73				230,811,000.00
1		Daqing Oilfield Co., Ltd.			31,906.6				7,779,000.00
2		PetroChina Changqing Oilfield Company			203,106.92				88,233,000.00
3		PetroChina Xinjiang Oilfield Company			68,090.45				3,891,000.00
4		PetroChina Southwest Oil & Gasfield Company			82,644.99				22,022,000.00
5		PetroChina Coalbed Methane Co., Ltd.			30,472.92				37,265,000.00
6		PetroChina Jilin Oilfield Company			101,757.58				27,085,000.00
7		PetroChina Dagang Oilfield Company			55,720.75				34,136,000.00
8		PetroChina Liaohe Oilfield Company			13,642.27				826,000.00
9		PetroChina Jidong Oilfield Company			44,469.73				8,890,000.00
10		PetroChina North China Oilfield Company			223.00				172,000.00
11		PetroChina Tuha Oilfield Company			12,822.52				1,153,000.00
II.		Refineries			393,831.48				191,183,000.00
1		PetroChina Daqing Petrochemical Company			26,482.00				7,957,000.00
2		PetroChina Daqing Refining & Petrochemical Company-Linyuan Energy			25,238.84				18,048,000.00
3		PetroChina Dushanzi Petrochemical Company			48,019.45				4,318,000.00
4		PetroChina Guangdong Petrochemical Company			1,064.62				889,000.00
5		PetroChina Jilin Petrochemical Company			564. 12				98,000.00
6		PetroChina Lanzhou Petrochemical Company			53,662.11				44,785,000.00
7		PetroChina Urumqi Petrochemical Company			60,101.48				5,401,000.00
8		PetroChina Changqing Petrochemical Company			2,870.00				1,924,000.00
9		PetroChina Karamay Petrochemical Company			28,047.56				2,522,000.00
11		PetroChina Dalian Petrochemical Company			23,800.00				8,389,000.00
12		PetroChina Jinxi Petrochemical Company			28,833.67				31,468,000.00
13		PetroChina Fushun Petrochemical Company			58,774.19				22,639,000.00
14		PetroChina South China Chemicals & Marketing Company			4,133.70				4,861,000.00
15		PetroChina East China Chemicals & Marketing Company			148. 10				445,000.00
16		PetroChina Northeast Chemicals & Marketing Company			7,928.70				7,975,000.00
17		PetroChina Lubricant Company			18,565.94				26,220,000.00
18		PetroChina Fuel Oil Company Limited			5,597.00				3,244,000.00
III.		Marketing Companies			95,267.54				99,553,000.00
1		PetroChina Shanghai Marketing Company			14,604.50				30,326,000.00
2		PetroChina Hubei Marketing Company			3,480.90				1,612,000.00
3		PetroChina Yunnan Marketing Company			9,268.61				9,530,000.00
4		PetroChina Northwest Marketing Company			14,550.00				14,490,000.00
5		PetroChina Guangxi Marketing Company			8,742.96				6,680,000.00
6		PetroChina Guangdong Marketing Company			14,853.18				19,522,000.00
7		PetroChina Northeast Marketing Company			17,893.00				6,029,000.00
8		PetroChina Beijing Marketing Company			513.01				931,000.00
9		PetroChina Xinjiang Marketing Co., Ltd.			234.00				472,000.00
10		PetroChina Hebei Marketing Company			3,438.60				2,249,000.00
11		PetroChina Hunan Marketing Company			7,080.84				7,509,000.00
12		PetroChina Sichuan Marketing Company			607.94				203,000.00
IV.		Natural Gas Marketing Enterprises			39,468.26				43,073,000.00
1		PetroChina Natural Gas Marketing Branch (Kunlun Energy Company Limited)			25,089.30				28,534,000.00
2		PetroChina Natural Gas Marketing General Company			14,378.96				14,539,000.00

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V.		International Operations			3,305				9,359,000.00
1		PetroChina International Co., Ltd.			3,305				9,359,000.00
VI.		Scientific Research and Other Entities			110,756.40				138,380,000.00
1		PetroChina Planning & Engineering Institute			25,952.45				14,495,000.00
2		Petrochemical Research Institute			61,570.45				34,390,000.00
3		PetroChina Company Limited			23,233.50				89,495,000.00
Total					1,287,486.41				713,000,000.00

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