China National Petroleum Corporation's oil and gas production will reach a new high again in 2025

Translated from: Securities Daily

The company’s total cash dividend for fiscal year 2025 exceeds RMB 86 billion

By our reporter, Xiang Yantao

On March 29, PetroChina Company Limited (hereinafter referred to as “PetroChina”) released its 2025 annual report. Under China’s Accounting Standards for Business Enterprises, in 2025, the company achieved operating revenue of RMB 2,864.469 billion and net profit attributable to shareholders of the parent company of RMB 157.302 billion.

At the same time, PetroChina plans to distribute a cash dividend of RMB 0.25 per share to all shareholders (including tax), for a total cash dividend to be distributed of RMB 45.76 billion (including tax), of which RMB 40.48 billion (including tax) will be paid as cash dividends for A shares. The company’s total cash dividend for 2025 (including the cash dividends already distributed in the interim) is RMB 86.02 billion, accounting for 54.7％ of the net profit attributable to shareholders of the listed company for that year.

In the face of new circumstances, PetroChina continues to deepen efforts to increase reserves and production of oil and gas and to transform and upgrade its refining and petrochemical business, ensuring the safe and efficient operation of both major industry chains for oil and gas. It actively promotes a green and low-carbon transition, driving high-quality and efficient development of emerging industries such as new energy and new materials.

In 2025, PetroChina’s oil and gas supply capacity continued to strengthen. The company vigorously implemented efficient exploration and beneficial development, and actively promoted a sound cycle of increasing reserves and production. Oil and gas production once again reached a record high, with shale oil and coalbed methane and gas from coal seams production rising significantly. In 2025, the company’s oil and gas equivalent production was 1,841.9 million barrels, up 2.5％ year over year.

Meanwhile, PetroChina continuously improves the layout of its new energy business. In 2025, the company’s wind and solar power generation totaled 7.93 billion kWh, up 68.0％; it signed new geothermal heating and supply contracts covering over 100 million square meters; and it completed 2.664 million tons of carbon dioxide utilization, up 40.3％.

PetroChina said that its domestic oil and gas business will promote the implementation of medium- and long-term plans for increasing reserves and production, as well as plans to improve recovery rates in aging oil and gas fields. Its overseas oil and gas business will focus on key areas such as independent exploration and natural gas, deepen efforts in building and cooperation with Belt and Road countries and major resource states, and actively secure more high-quality projects.

With respect to the new energy business, PetroChina will actively promote the acquisition and transformation of wind and solar power generation indicators, strive for new breakthroughs in building large-scale new energy bases, offshore wind power, and direct connection of green power; it will maintain a rapid growth momentum in clean energy power generation. It will optimize integrated operation of power supply and production and sales, and improve the electrification rate of production operations and the level of green power consumption. It will improve the development model for geothermal energy business. It will steadily build CCUS (carbon dioxide capture, utilization, and storage) demonstration zones covering the full industrial chain.

With respect to the refining and petrochemical business, PetroChina continues to push its refining and petrochemical business toward the mid-to-high end of the industry chain, and strives to increase the proportion of high value-added products. In 2025, the company processed 1.376 billion barrels of crude oil and produced 117 million tons of refined oil products; commodity output of chemical products was 40.027 million tons, up 2.7％ year over year.

With respect to the sales business, PetroChina actively promotes the development of businesses such as vehicle liquefied natural gas (LNG) refueling, charging and swapping, and integrated energy services. In 2025, the company built 1,525 integrated energy stations, put into operation 450 LNG refueling stations, and added 37,600 charging piles.

PetroChina said that it will speed up the coordinated development of “oil and gas, hydrogen, and power” and expand businesses such as gas fueling, charging and swapping. It will strengthen the branding of non-oil businesses and promote integrated development of online and offline businesses, continuously optimizing the construction of sales and service terminal networks.

(Responsible editor: Wang Wanying)

A massive volume of information and precise analysis—available on the Sina Finance APP