Zhong Guo Zheng Quan Bao·2025-08-26 15:28Core Viewpoint - China National Petroleum Corporation (CNPC) reported a decline in revenue and net profit for the first half of 2025, while also announcing plans for significant acquisitions to enhance its natural gas operations [2][7]. Financial Performance - CNPC achieved operating revenue of 1.45 trillion yuan, a year-on-year decrease of 6.7% [2] - The net profit attributable to shareholders was 84.007 billion yuan, down 5.4% year-on-year [2] - The company plans to distribute an interim dividend of 0.22 yuan per share, totaling approximately 40.265 billion yuan [2] Acquisition Plans - CNPC intends to invest a total of 400.16 billion yuan to acquire 100% equity in three gas storage companies [11][12] - The acquisition will enhance the company's asset optimization and business integration, promoting stable operations in the natural gas sector [15] - The three gas storage companies will be included in CNPC's consolidated financial statements, positively impacting overall financial status and operational results [16] Production and Sales Growth - CNPC's oil and gas equivalent production reached 924 million barrels, a 2.0% increase year-on-year [9] - Crude oil production was 476 million barrels, up 0.3% year-on-year, while marketable natural gas production was 2.68 trillion cubic feet, increasing by 3.8% [9] - The company reported a significant growth in renewable energy projects, with wind and solar power generation increasing by 70.0% [9] Business Segments Performance - In refining, CNPC processed 690 million barrels of crude oil and produced 59.572 million tons of refined oil [9] - Chemical product output was 19.971 million tons, a 4.9% increase, while new materials production surged by 54.9% [9] - The sales of refined oil reached 77.831 million tons, with LNG sales increasing by 58.9% and charging services growing by 213% [9][10]