The Hong Kong- and New York-listed state oil giant has also been seeking to boost shareholder returns in the midst of a massive corruption probe.
PetroChina said its forecasted capital expenditure would fall 7% year-on-year to 296.5 billion yuan ($47.85 billion) in 2014, and said capex would remain at around the 300 billion yuan level for the next "several years".
The capex cut comes despite earnings exceeding the company’s expectations in 2013.
Profits
