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EXHIBIT 4.6
YEAR 2003 PERFORMANCE CONTRACT WITH VICE PRESIDENT OF
PETROCHINA COMPANY LIMITED
Offeree: Name: XXXX, Xxxxx Xxxxxxx: Name: XXXX, Xxxx Xxxx of the Contract: January 1, 2003 to
December 31, 2003
Title: Vice President of PetroChina Company Limited Title: President of PetroChina
("PetroChina") Date of Execution: January 18, 2003
INDICES KEY PERFORMANCE INDICES WEIGHT MEASUREMENT TARGET ACTUAL
(KPI) PERFORMANCE
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Profits Indices Rate of return of the invested 20% % 8.38
capital of PetroChina (ROIC)
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Net income of PetroChina (NI) 10% In million RMB 34,280
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Total profit of refining and
marketing business& chemical and
marketing business
Refining and marketing business 20% In million RMB 2,130
Chemical and marketing business 60
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Operating Indices Cash processing cost for per ton 8% RMB Yuan/ton 100
of oil
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Cash marketing cost for per ton 7% RMB Yuan/ton 249
of oil
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Percentage of the finished oil 10% % 44 (excluding direct
as retailed supply)
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Decrease rate of unit product 8% % 3
cash cost
Unit chemical marketing cash cost 7% Yuan/ton 59.3
Receivables of refining and
marketing business & chemical 5% % Per Shiyoucaizi [2001] 311
and marketing business
Gap between actual capital 5% % +/- 5
expenditures and budget for
refining and marketing business
& chemical and marketing business
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Indices to Be Put Quality safety and environmental Accidents involving death Comprehensive
under Control protection of PetroChina < or = 0.05 persons/million man-hours; performance expressed
Extraordinary quality accidents involving in marks to be reduced
social effects = 0; by 5 marks if
Extraordinary accidents involving environmental exceeding target of
pollution < or = 5 the index put under
control.
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Signature of Offeree: /s/ XXXX XXXXX Signature of Offeror: /s/ XXXX XXXX
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