Overview
- PetroChina reported 2025 net income of RMB 157.3 billion, down about 4.5% as lower oil prices cut earnings from a record 2024.
- Revenue fell roughly 2.5% to RMB 2.86 trillion, while free cash flow rose 15% to RMB 120.2 billion as the company kept tight control of costs.
- Total oil and gas production increased 2.5% to a record 1,841.9 million barrels of oil equivalent, supported by new output from key Chinese basins.
- Natural gas was a key profit driver with rising sales and segment profit of RMB 60.8 billion, underscoring gas’s role in China’s energy mix.
- Refining faced structural pressure from capped capacity and shrinking gasoline demand, so PetroChina is boosting petrochemicals, scaling wind and solar output by 68%, and setting 15th Five‑Year Plan goals focused on innovation, international growth and low‑carbon development.