Core Viewpoint - China National Petroleum Corporation (CNPC) reported a revenue of 1.45 trillion yuan for the first half of the year, a decrease of 6.7% year-on-year, with a net profit of 84.007 billion yuan, down 5.4% year-on-year, while maintaining a high dividend payout [1] Group 1: Financial Performance - The company achieved an operating income of 1.45 trillion yuan, a year-on-year decline of 6.7% [1] - The net profit attributable to shareholders was 84.007 billion yuan, representing a 5.4% decrease compared to the previous year [1] - The board decided to distribute an interim dividend of 0.22 yuan per share, totaling 40.26 billion yuan [1] Group 2: Production and Sales - The oil and gas equivalent production reached 924 million barrels, an increase of 2.0% year-on-year, with crude oil production at 476 million barrels, up 0.3% [2] - The market saw a record high in natural gas production at 2.68 trillion cubic feet, a growth of 3.8% year-on-year [2] - The company sold 1,515 billion cubic meters of natural gas, marking a 2.9% increase, with domestic sales reaching 1,197.7 billion cubic meters, up 4.2% [3] Group 3: Business Development and Strategy - CNPC is actively expanding its new energy business, with significant projects in solar and wind energy, achieving a 70.0% increase in wind and solar power generation [2] - The company is focusing on refining structure adjustments and upgrades, with key projects in Jilin and Guangxi achieving mid-term progress [2] - The company aims to enhance its market competitiveness through optimized resource allocation and integrated marketing strategies [3]

Core Viewpoint - China National Petroleum Corporation (CNPC) reported a revenue of 1.45 trillion yuan for the first half of the year, a decrease of 6.7% year-on-year, with a net profit of 84.007 billion yuan, down 5.4% year-on-year. The company declared an interim dividend of 0.22 yuan per share, totaling 40.26 billion yuan, maintaining a historically high level [1]. Group 1: Financial Performance - CNPC's oil and gas equivalent production reached 924 million barrels, an increase of 2.0% year-on-year, with crude oil production at 476 million barrels, up 0.3% [2]. - The company achieved a sales volume of 2.68 trillion cubic feet of marketable natural gas, a year-on-year increase of 3.8%, marking a historical high for the same period [2]. - The operating profit from oil and gas and new energy businesses was 85.69 billion yuan [2]. Group 2: Operational Highlights - CNPC implemented efficient exploration strategies, focusing on key basins and areas, leading to significant breakthroughs and discoveries [1]. - The company optimized capacity construction and improved recovery rates through various measures, accelerating the development of key projects [1]. - The company processed 690 million barrels of crude oil and produced 59.57 million tons of refined oil, with chemical product sales volume increasing by 4.9% year-on-year [2]. Group 3: Business Development - The company is advancing its new energy business, with a 70.0% year-on-year increase in wind and solar power generation [2]. - CNPC's refining and chemical business is undergoing structural adjustments, with significant progress in high-end polyethylene projects and other initiatives [2]. - The natural gas sales business saw a volume increase of 2.9% year-on-year, with domestic sales reaching 119.77 billion cubic meters, up 4.2% year-on-year, achieving a historical high [3].

本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 重要内容提示： ? 每股分配比例：2025年半年度A股每股派发现金红利人民币 证券代码 601857 证券简称 中国石油 公告编号 临 2025-021 中国石油天然气股份有限公司 公司拟向全体股东每股派发现金红利人民币0.22元（含税）。截至 现金红利人民币402.65亿元（含税），其中A股现金红利人民币356.23 亿元（含税）。 如在本公告披露之日起至股权登记日期间，因可转债转股、回购 股份、股权激励授予股份回购注销、重大资产重组股份回购注销等致使 公司总股本发生变动的，公司拟维持每股分配比例不变，相应调整分配 总额。如后续总股本发生变化，将另行公告具体调整情况。 公司董事会于2025年6月5日举行的2024年年度股东会上，获股东 授权决定2025年半年度利润分配有关事宜，本次利润分配方案无需提交 股东会审议。 二、公司履行的决策程序 （一）董事会会议的召开、审议和表决情况 公司于2025年8月26日召开第九届董事会第十四次会议，全体董事 审议并一致通过《关于公司2025年 ...

Group 1 - The meeting of the Supervisory Board of China National Petroleum Corporation was held on August 25, 2025, with 4 out of 6 supervisors present, and the meeting was conducted legally and effectively [1][2] - The Supervisory Board approved the 2025 interim financial report with unanimous support, indicating strong agreement among the supervisors [1][2] - The Supervisory Board also approved the 2025 interim profit distribution plan, again with unanimous support, reflecting confidence in the company's financial performance [1][2] Group 2 - The Supervisory Board reviewed and approved the 2025 semi-annual report and its summary, confirming that the preparation and review processes complied with legal and regulatory requirements [2] - The content of the 2025 semi-annual report and summary was deemed to accurately reflect the company's operational and financial status without any false statements or omissions [2]

Core Viewpoint - China National Petroleum Corporation (CNPC) reported a strong performance in the first half of 2025, with significant revenue and profit figures despite a decline in international oil prices [1][2]. Financial Performance - CNPC achieved a revenue of 1.5 trillion yuan and a net profit of 84.01 billion yuan in the first half of 2025 [1]. - The company plans to distribute a cash dividend of 0.22 yuan per share, totaling 40.265 billion yuan, with 35.623 billion yuan allocated for A-shares [1]. Market Conditions - The average Brent crude oil price was $71.87 per barrel, down 14.5% year-on-year [1]. - CNPC's oil and gas equivalent production showed steady growth, and sales of refined oil, natural gas, and chemical products increased [1]. Strategic Initiatives - CNPC is accelerating the transformation and upgrading of traditional industries while fostering emerging sectors to create a "second growth curve" and planning for future industries to establish a "third growth curve" [1]. - The company is enhancing its renewable energy business, with a 70% increase in wind and solar power generation [2]. Operational Highlights - CNPC processed 690 million barrels of crude oil and produced 59.572 million tons of refined oil in the first half of 2025 [2]. - Chemical product sales reached 19.971 million tons, a 4.9% increase, while new material production surged by 54.9% [2]. - Non-oil business segments, including LNG and charging services, saw significant growth, with LNG sales up 58.9% and charging volumes up 213% [2]. Investment Activities - CNPC's subsidiary plans to establish three joint ventures with a total investment of 40.016 billion yuan to acquire 100% equity in three gas storage companies [3].

| 中国石油天然气股份有限公司 | | | | | | | --- | --- | --- | --- | --- | --- | | PETROCHINA COMPANY LIMITED | | | | | | | （于中华人民共和国注册成立之股份有限公司） | | | | | | | （于香港联交所股票代码：857；于上海证券交易所股票代码：601857） | | | | | | | 二零二五年中期业绩公告（半年度报告摘要） | | | | | | | （"本公司"）二零二五年半年度报告全文，为全面了解本公司的经营成果、财 | | | | | | | 务状况及未来发展规划，投资者应当到上海证券交易所网站（网址 | | | | | | | https://www.sse.com.cn）、香港联合交易所有限公司（"香港联交所"）"披露易" | | | | | | | 网 站 （ 网 址 https://www.hkexnews.hk ） 及 本 公 司 网 站 （ 网 址 | | | | | | | https://www.petrochina.com.cn）仔细阅读本公司二零二五年半年度报告全文。 | | ...

Core Viewpoint - China National Petroleum Corporation (CNPC) plans to establish a joint venture company and acquire 100% equity of three gas storage companies to optimize its asset and business integration, promoting the stable operation and high-quality development of the natural gas industry chain [1][2][16]. Summary by Sections 1. Overview of the Transaction - CNPC's subsidiary, Taihu Investment, intends to establish three joint venture companies to acquire 100% equity of Xinjiang Oilfield Gas Storage Company, Xiangguansi Gas Storage Company, and Liaohe Oilfield Gas Storage Company, with respective investments of CNY 99.95 billion, CNY 170.66 billion, and CNY 129.55 billion [2][16]. 2. Transaction Approval - The transaction was approved unanimously by the board of directors, with no dissenting votes, and does not require shareholder approval as it does not constitute a major asset restructuring [2][3]. 3. Basic Information of Related Parties - Xinjiang Oil Management Bureau, Sichuan Oil Management Bureau, and Liaohe Oil Exploration Bureau are the related parties involved in the transaction, all being wholly-owned subsidiaries of CNPC [3][4][5]. 4. Financial Data of Target Companies - Financial data for the target companies as of December 31, 2024, includes: - Xinjiang Oilfield Gas Storage Company: Total assets of CNY 1,313.17 million, net profit of CNY 76.17 million [7]. - Xiangguansi Gas Storage Company: Total assets of CNY 796.42 million, net profit of CNY 44.04 million [9]. - Liaohe Oilfield Gas Storage Company: Total assets of CNY 1,442.18 million, net profit of CNY 65.59 million [12]. 5. Pricing and Valuation - The total valuation for the three gas storage companies is CNY 400.16 billion, based on independent third-party assessments [12][13]. 6. Purpose and Impact of the Transaction - The acquisition aims to enhance gas storage capacity, facilitating the natural gas sales and production balance, thereby maximizing the overall efficiency of the natural gas industry chain [16]. - Post-transaction, the three gas storage companies will be included in CNPC's consolidated financial statements, positively impacting the company's financial status and operational results [16].

证券代码 601857 证券简称 中国石油 公告编号 临 2025-020 中国石油天然气股份有限公司 第九届董事会第十四次会议决议公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 一、董事会会议召开情况 中国石油天然气股份有限公司（以下简称公司）董事会于2025年8月 会议通知，会议于2025年8月26日在北京以现场及视频连线方式召开。应 出席会议董事11人，实际出席会议董事9人。董事任立新先生和谢军先生 因其他公务安排未能出席会议，分别书面委托董事黄永章先生和张道伟 先生代为出席并表决。会议由董事长戴厚良先生主持。部分监事和高级 管理人员列席了会议。本次会议符合《中华人民共和国公司法》和《中 国石油天然气股份有限公司章程》的规定，合法、有效。 二、董事会会议审议情况 公司董事审议了以下议案，并形成如下决议： （一）审议通过《关于公司2025年中期财务报告的议案》 （二）审议通过《关于公司2025年中期利润分配方案的议案》 议案表决情况：同意11票，反对0票，弃权0票。 本议案已经公司审计委员会审议通过，并同意提交董事会 ...

Core Viewpoint - PetroChina Company Limited reported strong operational performance in the first half of 2025, with significant growth in oil and gas output, advancements in refining and chemical operations, and rapid development in new energy and materials, leading to revenue and profit exceeding expectations [1] Group 1: Financial Performance - The company recorded revenue of RMB 1.5 trillion in the first half of the year, with a net profit attributable to owners reaching RMB 84.01 billion [1] - An interim dividend of RMB 0.22 per share was declared, totaling a dividend payout of RMB 40.26 billion, maintaining a high level compared to historical periods [1] Group 2: Oil and Gas Output - Oil and gas output grew by 2.0% year-on-year to 924 million BOE, with crude oil output increasing by 0.3% to 476 million barrels and marketable natural gas output rising by 3.8% to 2.68 trillion cubic feet [2] - The company achieved record highs in oil and gas output for the same period in history [2] Group 3: Refining and Chemical Operations - The company processed 690 million barrels of crude oil, with refined product output reaching 59.572 million tons and chemical commodity products at 19.971 million tons, up by 4.9% year-on-year [3] - New materials output surged by 54.9% year-on-year to 1.665 million tons, marking the third consecutive year of over 50% growth [3] Group 4: Marketing and Sales - Domestic refined products sales grew by 0.3%, with a 1.5 percentage point increase in market share, totaling 77.831 million tons sold [4] - Automotive LNG sales increased by 58.9% year-on-year, and battery charging and swapping volumes surged by 213% year-on-year [4] Group 5: Natural Gas Marketing - The company sold 151.50 billion cubic meters of natural gas, a 2.9% year-on-year increase, with domestic sales reaching 119.77 billion cubic meters, up by 4.2% [5] - The natural gas marketing business generated an operating profit of RMB 18.63 billion [5] Group 6: Technological Innovation - The company emphasized innovation as a primary development strategy, enhancing core competitiveness and accelerating the transformation of traditional industries [6] - The "Digital-Intelligent Transformation" initiative was implemented to integrate digital technology with the energy industry, improving efficiency across the value chain [6] Group 7: Future Outlook - The company plans to monitor market changes closely, strengthen market analysis, and promote high-quality development across all business segments in the second half of the year [7] - The goal is to achieve annual production and operation targets and deliver outstanding results to shareholders [7]

Core Viewpoint - China National Petroleum Corporation (CNPC) reported a decline in both revenue and net profit for the first half of the year, marking the first occurrence of such a downturn since mid-2020, primarily due to falling oil prices and changes in oil and gas product sales [2][3] Financial Performance - CNPC's revenue decreased by 6.7% year-on-year to 1.45 trillion yuan, while net profit fell by 5.4% to 84.01 billion yuan [2] - The decline in performance was attributed to a drop in sales volume for half of its eight major products, including polypropylene, gasoline, and diesel [2] - Average selling prices for six major products also fell, with crude oil and diesel prices dropping by 12.3% and 9.4% respectively [2] Market Conditions - The global oil market experienced a surplus, leading to a decline in international crude oil prices, with Brent crude averaging $71.87 per barrel (down 14.5%) and WTI averaging $67.6 per barrel (down 14.4%) [2] - The domestic market for refined oil products faced continued suppression in gasoline and diesel consumption due to competition from alternative energy sources [2] Industry Overview - The petrochemical industry as a whole saw declines in revenue, total profit, and import-export totals for the first half of the year, marking the third occurrence of simultaneous declines since 2020 and 2023 [4] - The petrochemical sector's revenue was 7.77 trillion yuan (down 2.6%), with total profit at 381.03 billion yuan (down 10.3%) and import-export totals at $441.43 billion (down 6.9%) [4] Segment Performance - Among CNPC's four business segments, only the natural gas sales segment saw an increase in operating profit, which rose by 10.8% to 18.63 billion yuan [5] - The other three segments—oil and gas, refining and chemicals, and sales—experienced profit declines of 6.8%, 18.9%, and 25.2% respectively [5] Future Outlook - CNPC anticipates continued downward pressure on international oil prices and ongoing competition from alternative energy in the domestic refined oil market [5] - The company plans to implement traditional industry transformation and upgrade, while expanding into new energy and materials sectors [5] - Significant growth was reported in renewable energy generation, new materials production, and LNG refueling volumes, with increases of 70%, over 50%, and nearly 60% respectively [5]