PetroChina Posts Record‑breaking Half‑year Profit for 2026

According to Securities Daily, PetroChina Company Limited unveiled its 2026 interim report on 30 August, reporting total operating revenue of RMB 1.53 trillion in the first half of 2026, representing a year‑on‑year rise of 5.3 per cent. Net profit attributable to parent shareholders stood at RMB 103.936 billion, up 22.0 per cent from the same period a year earlier. It marks the first time the group’s half‑year attributable net profit has exceeded RMB 100 billion, setting a new high for operational performance.

The oil, gas and new‑energy division generated operating revenue of RMB 440.002 billion for the six‑month period, compared with RMB 425.115 billion recorded in the prior‑year half‑year, an increase of 3.5 per cent. The group attributes this outcome to combined influences of higher crude‑oil prices alongside lower sales volumes, as well as rising natural‑gas prices paired with expanded sales. Average realised crude‑oil prices reached US 76.53 per barrel in the first half, climbing 15.6 per cent from US 66.21 per barrel one year before.

Its refining, chemicals and new‑materials division brought in RMB 572.243 billion of operating revenue, a 3.3 per cent uplift against RMB 554.170 billion in the corresponding period, driven by price rises for refined oil products and most chemical outputs. The marketing division secured operating revenue totalling RMB 1.26 trillion, up 7.8 per cent year‑on‑year from RMB 1.17 trillion, supported by higher finished‑oil selling prices and expanded trading income.

The natural‑gas sales division achieved operating revenue of RMB 319.486 billion, edging 2.7 per cent higher than RMB 310.943 billion in the previous year. PetroChina sold 161.22 billion cubic metres of natural gas including LNG across the first six months, a year‑on‑year increase of 3.9 per cent. Domestic natural‑gas sales hit 124.89 billion cubic metres, growing by 1.1 per cent.

Total oil‑and‑gas‑equivalent output hit 921 million barrels in the first half. Domestic crude‑oil output came to 393 million barrels, while marketable domestic natural‑gas production totalled 2.66 trillion cubic feet. Both domestic natural‑gas output and overall oil‑and‑gas‑equivalent production register the best‑ever figures for a first‑half period. Momentum builds within new‑energy operations. Wind and solar power generation amounted to 5.07 billion kWh, rising 37.3 per cent year‑on‑year. Newly signed geothermal‑heating contracts cover more than 60 million square metres. Pilot zero‑carbon demonstration factories take shape, and carbon capture, utilisation and storage activities gather pace. Some 1.373 million tonnes of carbon dioxide have been injected during the half‑year, showing a 14.2 per cent year‑on‑year increase.

Within refining and new‑materials operations, the group processed 655 million barrels of crude oil and produced 54.346 million tonnes of refined oil products. Commercial chemical output reached 21.318 million tonnes, up 6.7 per cent year‑on‑year. Output volumes of ethylene and para‑xylene both hit new half‑year records. New‑materials output totalled 2.688 million tonnes, surging 61.4 per cent and maintaining roughly 50 per cent annual expansion for five consecutive years.

The business will keep close track of macro‑economic conditions and global as well as domestic oil‑and‑gas market trends. Market orientation and efficiency remain central to its operational approach. Five core strategies will guide corporate activity: innovation, resource development, market expansion, international co‑operation and green low‑carbon transition. Stable and safe operations will be maintained across oil‑and‑gas industrial chains. 

Accelerated roll‑out awaits new‑energy, new‑materials and environmental‑protection industries. Initiatives for efficiency improvement will continue, while risk identification and mitigation frameworks will be strengthened to deliver steady profit performance and sustained value enhancement for the enterprise.