Petrochina Co., Ltd. Class A · SSE:601857
Petrochina Co., Ltd. Class A — FY2025 Earnings Presentation
31 slides from Petrochina Co., Ltd. Class A's earnings presentation, Mar 30, 2026
Slide 1: Annual Results Presentation
ANNUAL RESULTS PRESENTATION MARCH 30, 2026
Slide 2: Disclaimer
DISCLAIMER This presentation contains forward-looking statements that involve risks and uncertainties. These statements are generally indicated by the use of forward-looking terminology such as “believe”, “expect”, “anticipate”, “estimate”, “plan”, “project”, “target”, “may”, “will” or other similar
Slide 3: Board and Management
BOARD AND MANAGEMENT Mr. DAI Houliang Chairman Mr. ZHANG Daowei Mr. REN Lixin Mr. WANG Hua Executive Director & Executive Director & Chief Financial Officer & Senior Vice President President Secretary to the Board 3
Slide 4: Agenda
AGENDA I FINANCIAL RESULTS II OPERATING RESULTS III REMARKS BY THE CHAIRMAN IV Q&A SESSION 4
Slide 5: I Financial Results
FINANCIAL I RESULTS Mr. WANG Hua Chief Financial Officer & Secretary to the Board 5
Slide 6: Operating Performance Remained at Historically High Levels
1. Operating Performance Remained at Historically High Levels 2024 2025 YoY Change Average Brent Crude Oil Futures (USD/bbl) 79.86 68.19 -14.6% Company Average Realized Crude Oil Price 74.70 64.11 -14.2% (USD/bbl) Revenue (RMB Million) 2,937,981 2,864,469 -2.5% Net Profit Attributable to Owners of t
Slide 7: Sound Financial Position
2. Sound Financial Position Total Assets Debt-to-Asset Ratio Debt-to-Capital Ratio RMB Million -1.5 p.p -1.0 p.p +2.7% 2,827,777 12.2% 2,752,751 37.9% 36.4% 11.2% As of 31 Dec 2024 As of 31 Dec 2025 As of 31 Dec 2024 As of 31 Dec 2025 As of 31 Dec 2024 As of 31 Dec 2025 7
Slide 8: Robust Cash Flow
3. Robust Cash Flow Net Cash Flow From Operating Activities RMB Million Net Cash Flows From Operating Activities 406,532 +1.5% 412,510 RMB 412.51 billion Remained above RMB 400 billion As of 31 Dec 2024 As of 31 Dec 2025 for three years Free Cash Flow Free Cash Flow RMB Million 104,352 +15.2% 120,18
Slide 9: Disciplined, Targeted and Cost-effective Investment
4. Disciplined, Targeted and Cost-effective Investment 2025 Capex Capex on Oil, Gas and New Energies Business RMB269.09 billion RMB205.09 billion RMB Million 275,849 Oil, Gas and New Energies 76.22% 269,089 Refining, Chemicals and New Materials 17.75% Capex Marketing 3.06% Breakdown Natural Gas Mark
Slide 10: Effective Cost Control
5. Effective Cost Control Selling, General and Lifting Cost Cash Processing Cost Administrative Expenses USD/bbl RMB/ton RMB Million -0.1% -6.4% 224.30 224.28 12.05 12.04 59,749 55,935 2024 2025 2024 2025 2024 2025 10
Slide 11: Oil, Gas and New Energies
6. Oil, Gas and New Energies Achieved an operating profit of RMB RMB Million 11,238 136.07 billion -50,178 15,260 159,745 The increase in sales volume of oil 136,065 and gas led to an increase in revenue by RMB 11.24 billion The change in price of oil and gas led to a decrease in revenue by RMB Oper
Slide 12: Refining, Chemicals & New Materials—Refining Business
7. Refining, Chemicals & New Materials—Refining Business RMB Million -118 Achieved an operating 3,592 profit of RMB 21.70 billion 21,704 18,230 2024 Gross Profit Operating Expenses 2025 and Others 12
Slide 13: Refining, Chemicals & New Materials—Chemicals Business
7. Refining, Chemicals & New Materials—Chemicals Business RMB Million Achieved an operating profit of RMB 2.54 1,266 billion -3,922 3,156 2,043 2,543 The change in the sales volume of chemical products led to an increase in profit by RMB 1.27 billion 2024 Sales Volume Gross Profit Operating Expenses
Slide 14: Marketing
8. Marketing Achieved an operating profit of RMB RMB Million 17.55 billion -655 864 844 Domestic marketing business recorded an 17,547 16,494 operating profit of RMB 5.30 billion International trading business generated an operating profit of RMB 12.25 2024 Sales Gross Profit and International 2025
Slide 15: Natural Gas Marketing
9. Natural Gas Marketing Achieved an operating RMB Million profit of RMB -888 1,215 60.80 6,465 billion 60,802 54,010 Gross profit from natural gas wholesale business was RMB 53.31 billion 2024 Wholesale City Gas and Pipeline Operating Expenses 2025 Transportation and Others 15
Slide 16: Generous Return to Shareholders
10. Generous Return to Shareholders Annual Dividends Comparison Maintained Best Annual Dividend Payment RMB/Share The Board recommends 0.47 0.47 • Final dividend of RMB 0.25 per share 0.25 0.25 • Total final dividend payment of RMB 45.755 billion, with payout ratio of 62.4% • Total annual dividend p
Slide 17: II Operating Results
OPERATING II RESULTS Mr. REN Lixin Executive Director & President 17
Slide 18: Remarkable Results of Reserve Growth in Domestic Oil and Gas Exploration
1. Remarkable Results of Reserve Growth in Domestic Oil and Gas Exploration Sichuan Basin 3 • Zhetan-1: 668,000 m³/d of gas • Pingtan-1: 1.12 million m³/d of gas Major • Jitan-1: 1.67 million m³/d of gas Breakthroughs Tarim Basin 7 • Guotan-1: 155 m³/d of oil and 78,000 m³/d of gas • 6 wells in the
Slide 19: High-quality Development in Overseas Oil and Gas Business
2. High-quality Development in Overseas Oil and Gas Business Canada LNG Oman Block 5 Phase I Commissioned Second Contract Extension Finalized Canada 3D Seismic Acquisition Chad Successfully Completed Suriname Oman Brazil 3 Oilfields of Chad New Block H Commissioned Secured 9 Exploration Blocks in Br
Slide 20: Maintaining Growth of Oil and Gas Production
3. Maintaining Growth of Oil and Gas Production Oil & Gas Equivalent Output 1,841.9 Mm boe Domestic Marketable Natural Gas Output in Domestic Oil & Gas Equivalent Output 52.6 % Oil & Gas Output of Oil Equivalent Crude Oil Output Marketable Natural Gas Output Mm boe Mm bbl bcf +2.5% +0.7% +4.5% 1,797
Slide 21: Transformation and Upgrading of Refining & Chemicals–Refining Business
4. Accelerated Transformation and Upgrading of Refining & Chemicals–Refining Business Kerosene Production Up by Gasoline and Featured refined products including marine fuel, Up by Diesel Yield paraffin, asphalt, petroleum coke and lubricant base oil 18,773thousand tons 8.2% -2.3p.p 17,120thousand to
Slide 22: Transformation and Upgrading of Refining & Chemicals–Chemicals Business
4. Accelerated Transformation and Upgrading of Refining & Chemicals–Chemicals Business Chemical commodity Up by Ethylene output Up by PX output Up by New materials Up by products output 40,027 2.7 % 9,303 7.5 % 4,774 2.9 % 3,327 62.7 % thousand tons thousand tons thousand tons thousand tons New Mate
Slide 23: Continued Improvement of Marketing Capability for Marketing Business
5. Continued Improvement of Marketing Capability for Marketing Business Sales Volume of Refined Products Service stations 22,127 ’000 tons 2024 2025 Change Sales of Refined Products 159,000 160,811 +1.1% Added 1,525 2,637 Gasoline 64,147 62,767 -2.2% Integrated energy stations Charging and battery-s
Slide 24: Enhancement of Synergies and Profitability of Natural Gas Industrial Chain
6. Continued Enhancement of Synergies and Profitability of Natural Gas Industrial Chain Sales Volume of Natural Gas Domestic Sales Volume of Natural Gas bcm Sales of natural gas +5.6% 314.71 bcm 247.53 234.31 Domestic sales of natural gas Up by 247.53 bcm 5.6 % 2024 2025 24
Slide 25: Solid Progress in Green and Low-Carbon Transition
7. Solid Progress in Green and Low-Carbon Transition Wind and solar As the same Newly signed geothermal heating power generation period last year contracts (agreements) area 7.93 billion KWH 1.7 times 105.22 million m2 Newly added geothermal heating area over Wind and solar external power supply As
Slide 26: Continued Improvement in ESG Performance
8. Continued Improvement in ESG Performance ESG Ratings Governance A-Level Rating A No. 1 among for information disclosure from the SSE for 11 consecutive years Domestic Peers Anti-bribery and anti-corruption training coverage 100 % (including board members and all employees) A Climate: B Environmen
Slide 27: Scientific and Technological Innovation Drove High-quality Development
9. Scientific and Technological Innovation Drove High-quality Development Proprietary 175 MPa ultra-high pressure wellhead series R&D expenditure in 2025 of RMB 27.25 billion delivering international advanced level performance, achieving proprietary control of core technologies. Applied for YOY incr
Slide 28: 2026 Operating Targets
10. 2026 Operating Targets 2025 Completion 2026 Target Change Oil & Gas Output (MM boe) 1,841.9 1,853.4 +0.6% Domestic Oil & Gas Output (MM boe) 1,647.2 1,668.4 +1.3% Domestic Crude Oil Output (MM bbl) 780.3 781.1 +0.1% Domestic Marketable Natural Gas Output (bcf) 5,201.2 5,322.1 +2.3% Processing Vo
Slide 29: III Remarks by the Chairman
REMARKS BY III THE CHAIRMAN Mr. DAI Houliang Chairman 29
Slide 30: Q&A Session
Q&A Session
Slide 31: Investor Relations / Media Relations
Investor Relations Tel: (8610)5998-2622; (852)2899-2010 Email: ir@petrochina.com.cn hko@petrochina.com.hk Media Relations Tel: (8610) 5166-3828; (852)2522-1838 Email: zhongshiyou.list@everbloom.com.cn petrochina.list@everbloom.com.cn