PetroChina Company (857) Q3 2025 earnings summary

Executive summary

• Revenue for Q1–Q3 2025 was RMB 2,169,256 million, down 3.9% year-over-year; net profit attributable to owners fell 4.9% to RMB 126,294 million.

• Q3 2025 profit attributable to owners was RMB 42.29 billion, up 13.7% sequentially from Q2.

• The company maintained stable operations and exceeded business performance expectations despite lower oil prices and weaker demand.

Financial highlights

• Average realized crude oil price for Q1–Q3 2025 was $65.55/bbl, down 14.7% year-over-year.

• Operating profit for Q1–Q3 2025 was RMB 175,053 million, down 7.0% year-over-year.

• Basic EPS for Q1–Q3 2025 was RMB 0.69, down from RMB 0.73 year-over-year.

• Net cash flow from operating activities grew 3.3% year-over-year to RMB 343.10 billion.

• Total assets as of September 30, 2025, were RMB 2,849.96 billion, up 3.5% from year-end 2024.

Outlook and guidance

• Oil & gas output for Q1–Q3 2025 reached 1,377.2 MM boe, 75% of the 2025 target.

• Domestic oil & gas output and crude oil output also reached 75% of annual targets.

• Domestic marketable natural gas output reached 75% of the 2025 target.

• The company focuses on cost control, production growth, and transformation toward new energy to maintain profitability and stability.