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Recently a leaked internal directive from PetroChina is making wild runs on the Chinese Internet – it is a guideline on what not to say in the oil major’s press releases and financial reporting. Unsurprisingly, the document provoked massive amusement and cynicism among the Chinese public. Having worked in another oil major (Shell) myself, I know how clumsy the oil companies are when it comes to comforting the public (we still love to hate them despite their massive spending on PR, don’t we?), but this piece of work still amazes me.
My summary translation of the “forbidden”, “avoid” and “preferred” words is as following. It guarantees to make you wonder what PetroChina’s next annual report would be like.
PetroChina internal guidance on wording of public communications:
Do not use
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Avoid using
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Prefer to use
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On operating results:
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monopoly, windfall profits, powerful company, top player, recession
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turning point, borrowing / raising debt, slip, loss
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operating income, tax paid, total profit, profit increase, stable growth / operations, slower growth, healthy development, positive trend
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windfall tax, avoid tax
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special income tax
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On refining and marketing:
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sales / distribution quota, cut supply, price / gift promotion
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capacity expansion, compete for market, occupy market
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increase, raise, enlarge
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shortage, panic, interruption
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raise / cut price,
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adjust upward / downward, fluctuate, float, fall back, break
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dominate, control, erode, squeeze out, take all, guarantee national energy safety / supply
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protect national energy safety / supply
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On compensation and HR:
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lay off, cut staff, buy off, redundant, trim, optimisation, equal income
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improve efficiency through staff reduction, optimise staff utilisation
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control of total staff number / organisation size / personnel expenses, optimise employment structure, follow labour laws and regulations
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core / important / key positions
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frontline / base employees, technical positions
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high salary, adjust / raise salary, good benefits, invisible / gray income, pay hike, raise / increase income
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normalise compensation distribution, improve compensation system
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On capital market performance:
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suck in money, cash out, accumulate wealth, shrink, break IPO price, IPO, flagship, evaporation of market value, top position / stock / A share, best earnings, No.1 red chip, strongest profitability, world largest company by market cap, engine of capital market, the most profitable in Asia
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hot stock, all positive, take off, embark, shore up, become one of the best performed
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increase holdings, performed well, exceed expectations, above IPO price, lower than IPO price, rebound
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to the rescue of market, tight / short in cash
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tight liquidity
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issue shares, raise capital, finance, increase holdings, buy back, issue notes, listed, increase company value
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On safety, environment and law:
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PetroChina subsidiary xxx
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(name of the specific subsidiary)
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PetroChina pays penalty, damage claim on PetroChina, avoid legal risks / responsibilities
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protect (our) legal rights, open trial of xxx case, verdict on xxx case
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On international business:
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overseas expansion, overseas legions, all-out assault
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overseas income, local black people, acquire resources, oil security, obtain overseas crude productions
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overseas acquisition / combination, restructuring, local residents, overseas operating / share productions, co-operate, development, mutual benefits, win-win
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Muslim countries / world
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Islamic countries / world
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Arab militia
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armed militia, tribe forces
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Others:
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it is reported that, according to (unnamed) internal / company sources
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(name the specific source)
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biggest, No.1, flagship, carrier, leading player, best, the most famous
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state-owned key enterprise, nation’s very large petroleum group
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the only, the world’s sole, we are / have the only …
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advanced, among the leading, major breakthrough, proprietary innovation / technologies
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chief, boss, top brass
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company executives
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