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<Results>PETROCHINA (00857.HK) Full-Year Net Profit RMB157.318 Billion, Down 4.5%; Final Dividend 25 Cents
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PETROCHINA (00857.HK) announced its 2025 annual results, reporting revenue of RMB2.86 trillion, a year-on-year decrease of 2.5%, primarily due to the decline in prices of crude oil, refined oil, and other oil and gas products, as well as changes in sales volume. The company recorded a net profit of RMB157.318 billion, a decline of 4.5%, with earnings per share at 86 cents. The final dividend remains at 25 cents. For the fourth quarter alone, revenue was RMB695.213 billion, up 2.2% year-on-year; net profit was RMB31.023 billion, down 2.7%.

During the year, the group's average realized crude oil price was USD64.11 per barrel, down 14.2% from the previous year. Revenue from the oil, gas, and new energy segment was RMB824.808 billion, down 9%, mainly due to the decline in crude oil prices and the increase in natural gas sales; operating profit was RMB136.065 billion, affected by international oil prices, down 14.8%. The unit oil and gas operating cost slightly decreased from USD12.05 per barrel last year to USD12.04 per barrel.

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The refining, chemicals, and new materials segment revenue was RMB1.078047 trillion, down 9.6%, mainly due to reduced production and lower prices of refined oil; operating profit was RMB24.247 billion, up 13.4%. The cash processing cost per ton for refining decreased from RMB224.3 per ton last year to RMB224.28 per ton. Revenue from the natural gas sales segment was RMB619.503 billion, up 4.5%, mainly due to increased domestic natural gas sales; operating profit was RMB60.802 billion, up 12.6%.

Annual crude oil production was 948 million barrels, a slight increase of 0.7%; processed crude oil was 1.376 billion barrels, down 0.2%. The total sales of gasoline, kerosene, and diesel were 160.811 million tons, up 1.1%. The production of saleable natural gas was 5,363.2 billion cubic feet, up 4.5%, with natural gas sales at 314.713 billion cubic meters, up 7%; oil and gas equivalent production was 1.842 billion barrels, up 2.5%.

In 2026, the group plans to produce 941 million barrels of crude oil, with saleable natural gas production at 5,470.5 billion cubic feet, and a total oil and gas equivalent of 1.853 billion barrels. (de/d)

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