PetroChina First-Half Profit Jumps 22% to Record High

PetroChina announced record first-half operating results for 2026, with shareholder profit increasing by 22% year over year to RMB103.94 billion. Revenue grew by 5.3% to RMB1.527 trillion, while basic earnings per share reached RMB0.57. This marked the first time the company's attributable profit exceeded RMB100 billion in a half-year period.

The oil, gas, and new energies business contributed the most, generating RMB100.45 billion in operating profit. PetroChina produced 921 million barrels of oil equivalent, with 393 million barrels from domestic crude and 2.66 trillion cubic feet of marketable natural gas. The company made six new discoveries and advanced 19 new developments, establishing major gas and oil reserve areas in Sichuan, Junggar, and Tarim Fuman basins.

PetroChina expanded its unconventional resources, including shale oil and shale gas projects, while increasing deep coalbed methane production. New materials production jumped 61.4% to 2.69 million tons, and chemical commodity production increased by 6.7% to 21.32 million tons. The refining, chemicals, and new materials business recorded RMB14.53 billion in operating profit.

PetroChina added 592 integrated energy stations, 208 LNG refueling stations, and installed 18,500 charging points, with vehicle LNG retail volumes rising 78.7% and charging volumes increasing by 150%. Natural gas sales, including LNG, grew by 3.9% to 161.22 billion cubic meters, and the natural gas marketing business generated RMB24.09 billion in operating profit.

Lower-carbon operations expanded with wind and solar generation rising 37.3% to 5.07 billion kWh, and CO2 injected through carbon capture, utilization, and storage projects increasing 14.2% to 1.37 million tons. For the second half, PetroChina aims to prioritize profitability while investing in oil and gas resources, new energy, new materials, and environmental businesses.