PetroChina Posts Record Profit Growth Amid Soaring Oil Prices

PetroChina, one of China's major hydrocarbon producers and distributors, reported significant revenue growth in the first half of 2026. According to the company's interim results, PetroChina generated RMB 1.53 trillion (around $214.5 billion) in revenue for H1 2026, up 5.3% year-on-year.

The profit attributable to owners of the company reached a record high, exceeding RMB 100 billion for the first time in six months. PetroChina's profit grew by 22% YoY to RMB 103.94 billion ($14.6 billion).

The strong results were driven by improved efficiency and the development of new energy businesses. The company processed about 655.3 million barrels of crude oil, but refined-product sales weakened due to softer domestic demand.