China Petroleum (601857.SH) released its first quarter performance with a net profit attributable to shareholders of 46.809 billion yuan, a year-on-year increase of 2.3%.

Capital Stock News of Wisdom Finance APP, China Petroleum (601857.SH) released the first quarter report for 2025. In the first quarter, the group's average realized price of crude oil was $70.00 per barrel, a decrease of 7.2% from the same period last year at $75.41 per barrel; the average selling price of domestic natural gas was $9.01 per thousand cubic feet, a decrease of 3.9% from the same period last year at $9.38 per thousand cubic feet. According to International Financial Reporting Standards, the group achieved operating income of RMB 753.108 billion, a decrease of 7.3% from the same period last year at RMB 812.801 billion, mainly due to reduced market demand, decreased sales of refined oil, and lower prices of some products; net profit attributable to the parent company's shareholders was RMB 46.809 billion, an increase of 2.3% from the same period last year at RMB 45.768 billion, mainly benefiting from increased domestic natural gas production and sales, effective control of major cost expenses, and reduced tax expenditures.