PetroChina maintient des résultats historiques en 2025 malgré la chute du brut
PetroChina reported a net profit of 157.32 billion yuan in 2025 despite a 14.6% decline in Brent crude prices, closing its 14th Five-Year Plan with free cash flows up 15.2% year-on-year.
| Sectors | Oil, Exploration & Production, Gas, Natural Gas |
|---|---|
| Themes | Markets & Finance, Results |
| Countries | China |
PetroChina announced its results for the 2025 financial year, reporting revenue of 2,864.47 billion yuan (approximately $395 billion) and net profit attributable to shareholders of 157.32 billion yuan (approximately $21.7 billion). These results were achieved against a backdrop of a 14.6% year-on-year decline in Brent crude oil prices. The Chinese national oil company states that it maintained its operating results at historically high levels, strengthening its value creation capability along the oil and gas industry chains.
Cash Flows and Balance Sheet Strength
Free cash flows reached 120.19 billion yuan (approximately $16.6 billion) in 2025, up 15.2% year-on-year. The Debt-to-Asset ratio stood at 36.4%, while the Debt-to-Capital ratio came in at 11.2%. PetroChina indicates its balance sheet structure was further optimized, in a global crude market subject to persistent supply route tensions — as illustrated by Iranian threats targeting the Bab el-Mandeb Strait, a strategic corridor for oil. The company adds that its financial position remains sound.
The Board of Directors recommends a final dividend of 0.25 yuan per share (inclusive of applicable taxes) for 2025, bringing the full-year dividend to 0.47 yuan per share (inclusive of applicable taxes). The payout ratio stands at 54.7%, for a total dividend payout of 86.02 billion yuan (approximately $11.9 billion). According to the company, these figures represent the best dividend per share level for the same period in the group's history and the highest payout ratio over the past five years. These results set PetroChina apart from Western majors weighing the risks of costly engagement in high geopolitical uncertainty zones.
14th Five-Year Plan Review
Over the duration of the 14th Five-Year Plan, PetroChina reports cumulative profit attributable to shareholders exceeding 700 billion yuan (approximately $96.6 billion). The cumulative dividend per share stood at 2.03 yuan, with an average annual dividend payout ratio of 51%, exceeding the 30% threshold stipulated in the Articles of Association. The company simultaneously pursued the transformation and upgrading of its refining and chemicals activities, while accelerating its positioning in emerging industries.
PetroChina highlights intensified exploration and development activities, enhanced innovation-driven growth and promotion of green and low-carbon transformation across its operations. The company also states that it improved its ESG (environmental, social and governance) performance. Listed on the Hong Kong Stock Exchange (HKSE: 00857) and the Shanghai Stock Exchange (SSE: 601857), PetroChina remains one of the world's largest oil and gas companies by revenue.
