PetroChina 2025 Net Profit Falls 4.5% on Lower Oil Prices
PetroChina reported a 4.5 percent drop in 2025 net profit to 157.3 billion yuan due to lower oil prices. The firm plans to increase capital spending in 2026.
PETROCHINA CO LTD-H, Asia's largest oil and gas producer, announced that its 2025 annual net profit fell 4.5% from the record levels seen in 2024. Lower global oil prices were the primary driver behind the earnings decline. According to a filing with the Shanghai Stock Exchange, the company recorded a net income of 157.3 billion yuan ($22.76 billion) for the year, down from 164.7 billion yuan in 2024. Total revenue also saw a 2.5% decrease, settling at 2,864.5 billion yuan.
The downturn reflects a broader trend across the energy sector in China. Other major players reported similar or steeper declines; CNOOC LTD-H recently reported an 11.5% drop in net earnings to 122.08 billion yuan, while refining giant SINOPEC KANTONS HOLDINGS saw its profits fall by 37% to 31.8 billion yuan.
