China National Petroleum Corporation's 2025 operational performance maintains a historic high

By Xinhua Finance

BEIJING, March 29 (Xinhua Finance, reporter Anna) The performance data released by PetroChina Company Limited on March 29 show that in 2025, the company achieved operating revenue of RMB 2864.69 billion, and net profit attributable to shareholders of RMB 157.318 billion. Its operating performance has remained at a historically high level.

To reward shareholders, the board of directors of PetroChina recommends paying a 2025 final dividend of RMB 0.25 per share (including applicable taxes), and a full-year dividend of RMB 0.47 per share (including applicable taxes). The payout ratio is 54.7%. The total dividend payout is RMB 86.02 billion. Both the final and full-year dividends per share have remained at the best level in the same historical period, and the payout ratio is also the highest level in the past five years.

In addition, the reporter learned from PetroChina that during the 14th Five-Year Plan period, the company cumulatively achieved net profit attributable to shareholders of over RMB 700 billion. Cumulative dividend per share was RMB 2.03, with an average annual payout ratio of 51%, far exceeding the 30% standard stipulated in the company’s articles of association.

Looking at the business segments, PetroChina’s oil and gas supply capability has continued to strengthen, and its new energy business has accelerated in development. In 2025, PetroChina’s oil-and-gas equivalent production was 184.19 million barrels, up 2.5% year over year; its wind and solar power generation was 7.93 billion kWh, up 68.0%; the area of newly signed geothermal heating and supply contracts exceeded 100 million square meters; and it completed 26.64 million tons of carbon dioxide utilization, up 40.3%. For the full year, the company’s operating profit from its oil-and-gas and new energy businesses was RMB 136.065 billion.

Photo shows

On-site aerial photo of the 550,000 kW wind power project of the Angge 55 Wind Power Project at Jilin Oilfield (Photo provided by the interviewed unit; photo by Xu Zhang)

In 2025, PetroChina processed 1.376 billion barrels of crude oil and produced 117 million tons of refined petroleum products; commodity volume of chemical products was 40.027 million tons, up 2.7%; and output of chemical new materials was 33.27 million tons, up 62.7%. For the full year, PetroChina’s refining and petrochemical and new materials businesses achieved an operating profit of RMB 24.247 billion.

Guangxi Petrochemical’s integrated refining and chemical transformation and upgrading project (Photo provided by the interviewed unit)

In 2025, PetroChina sold 160.811 million tons of gasoline, and jet fuel, and diesel; up 1.1% year over year; it sold 314.713 billion cubic meters of natural gas, up 7.0% year over year, including domestic sales of 247.528 billion cubic meters of natural gas, up 5.6%. For the full year, the operating profit from PetroChina’s refined petroleum product sales business was RMB 17.547 billion, and the operating profit from its natural gas sales business was RMB 60.802 billion.

In 2025, PetroChina’s R&D expenditure was RMB 27.251 billion, accounting for 1.0% of the company’s operating revenue. The proportion of R&D expenditure that was capitalized was 13.6%. It obtained 2,042 patents in China. As of December 31, 2025, PetroChina held a total of 23,075 patents in China and overseas.

PetroChina

Aerial photo of Ta Kuo 1 Well at Deep Earth (Photo provided by the interviewed unit; photo by Lü Dianjie)

2026 is the opening year of the “15th Five-Year Plan.” The reporter learned from PetroChina that this year, the company will proactively adapt to changes in the global energy transition and market landscape. It will adhere to the general tone of pursuing progress while maintaining stability, and will vigorously implement five development strategies: innovation, resources, markets, internationalization, and green and low-carbon development. It will actively conduct market research and judgment, take the initiative to respond to market changes, continuously optimize production and operations, strengthen management of costs and expenses, and constantly improve the operation quality and efficiency of its two oil-and-gas industrial chains. It will fully leverage its own advantages, develop new quality productive forces according to local conditions, accelerate the development of emerging industries such as new energy and new materials, and focus on enhancing the company’s value-creation capability, risk-response capability, and sustainable development capability.

Editor: Wang Yuanyuan

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