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PetroChina records a 2.3% increase in net profit in the first quarter of 2025

PetroChina announced stable growth in operational results for the first quarter of 2025, supported by an increase in oil and gas production and accelerated development in renewable energies.

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PetroChina Company Limited recorded revenue of RMB753.11bn ($104.7bn) and a net profit attributable to shareholders up by 2.3% year-on-year, reaching RMB46.81bn ($6.51bn) in the first quarter of 2025. The company strengthened operational coordination to respond to changes in energy prices and market demand.

Support from oil production and renewable energy growth

PetroChina’s total oil and gas production reached 467 million barrels of oil equivalent (BOE), a year-on-year increase of 0.7%. Domestic production rose by 1.2% to 418 million BOE. The company also accelerated its development in renewable energies, with wind and solar power generation increasing by 94.6% to 1.68 billion kilowatt-hours. The oil, gas and new energies segment generated an operating profit of RMB46.09bn ($6.4bn).

Chemical transformation and new material production

In refining and chemicals, PetroChina processed 337 million barrels of crude oil during the first quarter of 2025. The production of refined products reached 28.57 million tonnes, while ethylene production stood at 2.27 million tonnes. The output of new materials rose by 37.5% to reach 0.80 million tonnes. The operating profit in this sector totalled RMB5.39bn ($750mn).

Increase in natural gas marketing and domestic market share

PetroChina sold 86.44 billion cubic metres of natural gas, a year-on-year increase of 3.7%. Domestic sales reached 69.91 billion cubic metres, rising by 4.2%. The natural gas marketing business generated an operating profit of RMB13.51bn ($1.88bn). Sales of refined products totalled 36.78 million tonnes, with a domestic market share increase of 1.2 percentage points.

Outlook for sustainable growth and strategic transformation

PetroChina reaffirmed its commitment to five strategic pillars, notably innovation, internationalisation, and low-carbon development. The company plans to strengthen its value creation capabilities while adapting its operations to macroeconomic changes, without disclosing specific forecasts for the remainder of the year.

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