Guangzhou (JLC), April 30, 2025--PetroChina's net profit attributable to its equity shareholders rose by 2.3% year on year in the first quarter (Q1) of 2025, according to the company's quarterly report released on April 29.
PetroChina's net profit came in at CNY46.81 billion in the period, up from CNY45.77 billion in the same period last year, data from the report shows.
The increase was mainly due to higher domestic output and sales of natural gas, effective cost control, and lower tax expenditure, the company said in the report.
However, the company's revenue dropped by 7.3% year on year to CNY753.11 billion, which was largely because of less market demand, fewer sales of oil products (gasoline, diesel, and kerosene), and lower prices of some products.
PetroChina sold a total of 36.78 million mt of oil products in Q1, a fall of 6.3% from the year before.
Meanwhile, its oil product output stood at 28.57 million mt in the period, also seeing a year-on-year decline of 6.3%.
The company processed 337.3 million barrels of crude oil in the first three months, decreasing by 4.7% from the same months last year, the data also shows.
At the same time, PetroChina's oil and gas production amounted to 467.0 million barrels of oil equivalent, ticking up by 0.7% year on year.
