三桶油盈利PK核心总结：中石化掉队原因与转型路径

化工7072025-12-18

一、盈利差距：中石化沦为“后进生”2025年前三季度，“三桶油”盈利呈现显著分化：中石油以1262.94亿元净利润稳居第一，中海油凭借1019.71亿元紧随其后；而中石化仅实现299.84亿元净利润，同比大幅下滑32.2%，其中核心炼化板块息税前亏损82.23亿元，成为整体盈利的“拖油瓶”。二、掉队三大症结业务结构先天失衡中石化业务以“炼油化工+成品油分销”为主，占比超六成，油气自给能力较弱，形成...

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