CITIC Resources is primarily engaged in the exploration, development, production and trading of oil. CITIC Resources also invests in coal mining, electrolytic aluminium, bauxite mining and alumina smelting. CITIC Resources operates in multiple nations including China, Australia, the Republic of Kazakhstan and Indonesia.
In 2025, CITIC Resources actively responded to the international market environment and pressures from cyclical industry fluctuations. Guided by its “Investment+Trading” dual-driver development strategy, CITIC Resources expanded its trading scale, strengthened operational management and solidified its developmental foundation. It focused on promoting the steady expansion of oilfield operations, oil and gas trading and metal mineral businesses, achieving significant results in lean management.
Steady oil and gas operations. KBM, Yuedong and Seram oilfields produced a combined 17.21 million barrels of crude oil during the year, largely maintaining stable output. KBM raised water injection and fluid production, improving quality and efficiency through better power support, focused R&D and deeper cost reduction. The CASPI BITUM asphalt plant expansion was completed and brought into operation. Yuedong advanced refined operations and technological innovation, made a key breakthrough in water-shutoff and oil recovery technology, and steadily pushed ahead with new drilling plans and development of the Hainan-20 well block to sustain output and add reserves. Seram boosted production through measures including shallow-well reperforation, tapping potential with new technologies and processes and exploring commercial gas production options for the Lofin area. 
Value enhancement in the trading business. During the year, the oil and gas trading volume exceeded 20 million barrels, generating trading revenue of approximately HK$11.34 billion. Meanwhile, CITIC Resources broke the long-standing monopoly of the sales channel of crude oil, thereby enhancing the market value of its oil and gas properties.
Enhanced control over non-oil and gas businesses. Throughout the year, the sales volume of electrolytic aluminium was approximately 72,000 tonnes, representing a year-on-year increase of 13%. Coal sales reached approximately 618,000 tonnes, a year-on-year increase of 3.2%. Furthermore, the value of its shareholding of Alcoa Corporation increased by 46.3%.
Steady oil and gas operations. KBM, Yuedong and Seram oilfields produced a combined 17.21 million barrels of crude oil during the year, largely maintaining stable output. KBM raised water injection and fluid production, improving quality and efficiency through better power support, focused R&D and deeper cost reduction. The CASPI BITUM asphalt plant expansion was completed and brought into operation. Yuedong advanced refined operations and technological innovation, made a key breakthrough in water-shutoff and oil recovery technology, and steadily pushed ahead with new drilling plans and development of the Hainan-20 well block to sustain output and add reserves. Seram boosted production through measures including shallow-well reperforation, tapping potential with new technologies and processes and exploring commercial gas production options for the Lofin area.
KBM Oilfield
Yuedong Oilfield
| Oilfield | CITIC Resources’ interest | Daily oil production in 2025 (share of output, barrels) | Proven oil reserve estimates as at the end of 2025 (share of output, million barrels) |
|---|---|---|---|
| KBM (Kazakhstan) | 50% | 19,300 | 55.9 |
| Yuedong (China) | 90% | 5,814 | 19.1 |
| Seram Block (Indonesia) | 41% | 288 | 1.0 |
Enhanced control over non-oil and gas businesses. Throughout the year, the sales volume of electrolytic aluminium was approximately 72,000 tonnes, representing a year-on-year increase of 13%. Coal sales reached approximately 618,000 tonnes, a year-on-year increase of 3.2%. Furthermore, the value of its shareholding of Alcoa Corporation increased by 46.3%.