Ge Long Hui·2025-11-04 20:47Core Viewpoint - China Petroleum's net profit attributable to shareholders for the first three quarters of 2025 reached 126.3 billion yuan, a year-on-year decrease of 4.9% [1] Financial Performance - In Q3 2025, the net profit attributable to shareholders was 42.3 billion yuan, reflecting a year-on-year decline of 3.9% but a quarter-on-quarter increase of 13.7% [1] - The natural gas segment showed strong performance, with a 14% quarter-on-quarter improvement in Q3 [1] - The operating profit from natural gas sales reached 12.7 billion yuan, with a quarter-on-quarter increase of 7.5 billion yuan [1] Strategic Focus - The company has set a capital expenditure budget of 262.2 billion yuan for the entire year of 2025, with 210 billion yuan allocated to oil and gas and renewable energy segments [1] - The focus will continue on key basins such as Songliao, Ordos, Junggar, and Tarim for exploration and development, with increased efforts in unconventional resource development like shale gas and shale oil [1] - The company is also advancing clean energy projects, including clean electricity, geothermal energy, and carbon capture, utilization, and storage (CCUS) [1] Investment Value - As a leading player in the domestic oil and gas industry, the company's operations demonstrate resilience, and its continuous dividend payments highlight its investment value as a state-owned enterprise [1]