China National Petroleum Corporation's oil and gas production will reach a new historical high in 2025, and the total cash dividends for 2025 will exceed 86 billion yuan.

Securities Daily reporter Yan Yantao

On March 29, PetroChina Company Limited (hereinafter referred to as “PetroChina”) released its 2025 annual report. According to China’s corporate accounting standards, in 2025, the company recorded operating revenue of 28,644.69 billion yuan, and net profit attributable to shareholders of the parent company of 1,573.02 billion yuan.

At the same time, PetroChina plans to distribute a cash dividend of 0.25 yuan per share to all shareholders (including tax), with a total cash dividend of 457.6 billion yuan (including tax), of which cash dividends for A shares will be 404.8 billion yuan (including tax). In 2025, the company’s cash dividends (including the cash dividends already distributed in the interim) totaled 860.2 billion yuan, accounting for 54.7% of the company’s net profit attributable to shareholders of listed companies for that year.

Facing the new situation, PetroChina continues to thoroughly advance oil and gas reserves growth and production increase and the transformation and upgrading of its refining and petrochemical businesses, ensuring the safe and efficient operation of its two major industry chains for oil and gas; it also actively promotes a green and low-carbon transition, and drives high-quality, 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 implemented large-scale efficient exploration and benefit-driven development, actively promoted a virtuous cycle of increasing reserves and boosting production, and its oil and gas output once again hit a historical high, with shale oil and coalbed methane production increasing significantly. In 2025, the company’s oil and gas equivalent production volume was 1,841.9 million barrels, up 2.5% year over year.

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

PetroChina stated that its domestic oil and gas business will promote the implementation of medium- and long-term plans for increasing reserves and production and plans to improve recovery rates in mature oil and gas fields. Its overseas oil and gas business will focus on key areas such as independent exploration and natural gas, deepening engagement in the Belt and Road countries and key resource nations, and actively securing more high-quality projects.

In the new energy business, PetroChina will actively promote the acquisition and conversion of wind and solar power generation indicators, striving for new breakthroughs in areas such as the development of new-energy large bases, offshore wind power, and direct connection of green electricity; it will maintain a rapid growth trend in clean energy power generation; it will optimize integrated operations covering electricity supply, production, and sales, and enhance the electrification rate of production and operating activities and the level of green electricity absorption; it will improve the development model for geothermal business; and steadily build a CCUS (carbon dioxide capture, utilization, and storage) demonstration zone covering the full industrial chain.

In the refining and petrochemical business, PetroChina has continued to drive its refining and petrochemical business to move toward the mid-to-high end of the industrial chain, striving 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; chemical products’ marketable volume was 40.027 million tons, up 2.7%.

In the sales business, PetroChina has proactively promoted the development of businesses such as vehicle liquefied natural gas (LNG) refueling, charging and swapping, and integrated energy services. In 2025, it newly built 1,525 integrated energy stations, put into operation 450 LNG refueling stations, and added 37.6 thousand charging guns.

PetroChina stated that it will accelerate coordinated development of “oil-gas-hydrogen-electricity non-” and expand businesses such as fueling and charging and swapping; strengthen brand building for non-oil businesses and promote the integrated development of online and offline businesses; and continuously optimize the construction of sales and service terminal networks.