PetroChina's Third-Quarter Profit Falls Amid Lower Oil Prices
By Jason Chau
PetroChina's third-quarter net profit fell 3.9% from a year earlier amid lower oil prices and weaker domestic demand for refined products.
The Chinese energy major's net profit for the quarter ended September was 42.29 billion yuan, equivalent to $5.95 billion, the company said late Thursday.
Revenue rose 2.3% to 719.16 billion yuan.
The average realized price for crude oil fell 15% to $65.55 a barrel over the first nine months of the year, it said.
PetroChina said it kept crude production and natural gas output broadly stable, while striving to keep costs under control.
PetroChina has been facing a decline in demand for refined oil products in China, while growth in domestic natural gas consumption has also slowed. The company said the supply-demand balance in international crude oil markets remains generally loose, with oil prices trending downward.
PetroChina is the listed arm of state-owned China National Petroleum Corp.
Write to Jason Chau at jason.chau@wsj.com
(END) Dow Jones Newswires
October 30, 2025 22:08 ET (02:08 GMT)
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