PetroChina reports strong Q3 results, boosts shareholder returns

For the third quarter of 2025, PetroChina Company Limited reported a 2.3% increase in operating revenue to RMB 719,157 million and a net profit attributable to shareholders of RMB 42,287 million, despite a 3.9% decrease compared to the same period in 2024. The company's oil and gas equivalent production rose by 2.6%, with crude oil production up 0.8% and natural gas sales up 4.6%. The average realized crude oil price was $65.55/barrel, a 14.7% decrease from the previous year.

The company is actively implementing a "Quality and Efficiency Enhancement, High Shareholder Returns" action plan, focusing on value creation, shareholder returns, new quality productive forces, and market value management. This includes optimizing production and operations, accelerating new material development, and strengthening market presence in natural gas. The company reiterated its commitment to stable long-term investment returns and has made significant revisions to its Articles of Association, Shareholder Meeting Rules of Procedure, and Board of Directors Meeting Rules of Procedure to improve corporate governance and align with new regulatory requirements. These changes include the elimination of the Supervisory Committee, new provisions for director qualifications, and clearer guidelines for related party transactions.