Xin Lang Cai Jing·2025-11-07 06:22Core Viewpoint - China Petroleum reported a net profit attributable to shareholders of 126.279 billion yuan for the first three quarters, a year-on-year decrease of 4.90% [1] - The third quarter net profit was 42.286 billion yuan, down 3.86% year-on-year but up 13.71% quarter-on-quarter, indicating strong operational resilience [1] Financial Performance - The company demonstrated enhanced ability to withstand external oil price fluctuations and achieved significant improvements in efficiency [1] - The net profit for the third quarter showed a quarter-on-quarter growth, reflecting operational strength [1] New Energy Sector - The new energy segment performed exceptionally well, with wind and solar power generation increasing by 72.2% year-on-year [1] - The company is strategically developing new production capabilities in wind, solar, geothermal, and hydrogen energy [1] Operational Improvements - Continuous optimization of equipment operation and product structure has been noted, with successful initial operation of the core ethylene unit in the Jilin Petrochemical upgrade project [1] - Transition and upgrade projects at Guangxi Petrochemical and Blue Ocean New Materials are progressing steadily, indicating promising future industrial upgrades [1] Natural Gas Sales - The company is coordinating domestic and international resources in its natural gas sales, optimizing resource pool structure and controlling comprehensive procurement costs [1] - Increased marketing efforts and a focus on online sales mechanisms have been implemented to enhance sales efficiency [1] Overall Outlook - The company is experiencing stable growth in oil and gas production, accelerated development in the new energy sector, and ongoing transformation in refining and chemical operations [1] - The continuous improvement in natural gas sales efficiency supports a positive outlook on the company's competitive advantage across the entire industry chain, maintaining a "buy" rating [1]