Xin Hua Cai Jing·2025-08-26 10:49Core Viewpoint - China National Petroleum Corporation (CNPC) reported strong mid-year performance for 2025, with significant revenue and profit growth, alongside a commitment to shareholder returns through dividends [2][10]. Financial Performance - The company achieved a revenue of 1.5 trillion yuan and a net profit of 84.01 billion yuan in the first half of 2025 [2][10]. - A mid-year dividend of 0.22 yuan per share was declared, totaling 40.26 billion yuan, maintaining a historically high level [2][10]. Operational Highlights - Oil and gas production continued to grow, with a total output of 924 million barrels, a year-on-year increase of 2.0% [3][11]. - Natural gas production reached 2.68 trillion cubic feet, up 3.8%, marking record levels for the period [3][12]. - Renewable energy initiatives saw a 70.0% increase in wind and solar power generation [3][12]. Refining and Chemical Business - The company made significant progress in refining transformation and upgrading, with a focus on high-end, green, and intelligent directions [4][13]. - Crude oil processed was 690 million barrels, producing 59.57 million tons of refined oil, and chemical product sales increased by 4.9% to 1.997 million tons [4][14]. - New materials production surged by 54.9%, continuing a trend of over 50% growth for three consecutive years [4][14]. Sales and Market Expansion - Domestic refined oil sales grew by 0.3%, with market share increasing by 1.5 percentage points [5][16]. - Sales of vehicle LNG rose by 58.9%, and charging and battery swap services increased by 213% [5][16]. - Natural gas sales reached 151.5 billion cubic meters, a 2.9% increase, with domestic sales hitting 119.77 billion cubic meters, up 4.2% [5][17]. Innovation and Future Outlook - The company emphasized innovation as a key development strategy, focusing on enhancing core competitiveness in oil and gas operations [6][18]. - Plans for the second half of 2025 include closely monitoring market changes and driving high-quality business development to meet annual operational goals [7][19].