Ge Long Hui·2025-10-30 11:27Core Insights - The average realized price of crude oil for China Petroleum & Chemical Corporation (00857.HK) in the first three quarters of 2025 was $65.55 per barrel, a decrease of 14.7% compared to $76.88 per barrel in the same period last year [1] - The average sales price of domestic natural gas was $8.81 per thousand cubic feet, down 1.0% from $8.90 per thousand cubic feet year-on-year [1] - The company reported operating revenue of RMB 2,169.256 billion and a net profit attributable to shareholders of RMB 126.294 billion, a decline of 4.9% from RMB 132.788 billion in the previous year [1] - In Q3 2025, the net profit attributable to shareholders was RMB 42.287 billion, showing a quarter-on-quarter increase of 13.7% [1] - The financial condition of the company remains healthy [1] Industry Context - The global economic growth rate has slowed down due to trade uncertainties, while China's GDP grew by 5.2% year-on-year [1] - The international crude oil market is characterized by a generally loose supply and demand, with the average spot price of North Sea Brent crude oil at $70.93 per barrel, down 14.3% from $82.79 per barrel a year ago [1] - The average spot price of West Texas Intermediate crude oil was $66.73 per barrel, a decrease of 14.1% from $77.71 per barrel year-on-year [1] - Domestic demand for refined oil has decreased, and the growth rate of domestic natural gas consumption has slowed [1]