PetroChina first-half profit rises 22% to record RMB103.94 billion
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PetroChina reported a 22% rise in first-half attributable profit to a record RMB103.94 billion, the first time the figure has exceeded RMB100 billion in a half-year period. Revenue increased 5.3% to RMB1.527 trillion, driven by growth in natural gas, new materials and lower-carbon businesses.
Key Facts
- PetroChina's attributable profit reached RMB103.94 billion in the first half of 2026, up 22% year over year.
- Revenue rose 5.3% to RMB1.527 trillion, with basic earnings per share of RMB0.57.
- Oil, gas and new energies remained the largest earnings contributor, generating RMB100.45 billion in operating profit.
- New materials production jumped 61.4% to 2.69 million tons, maintaining growth of around 50% for a fifth consecutive year.
- PetroChina processed 655 million barrels of crude and produced 54.35 million tons of refined products in the first half.
Record Earnings
PetroChina reported record first-half operating results for 2026, with profit attributable to shareholders rising 22% year over year to RMB103.94 billion. Revenue increased 5.3% to RMB1.527 trillion, while basic earnings per share reached RMB0.57. PetroChina said it was the first time its attributable profit had exceeded RMB100 billion in a half-year period.
Upstream and New Energy Performance
The company's oil, gas and new energies business remained its biggest earnings contributor, generating RMB100.45 billion in operating profit during the first half. PetroChina reported oil and gas equivalent production of 921 million barrels, domestic crude production of 393 million barrels and marketable natural gas production of 2.66 trillion cubic feet. The company said it made six new discoveries and advanced 19 new developments during the period. It also established two large gas reserve areas in the Sichuan and Junggar basins and a major deep conventional oil reserve area at Tarim Fuman. PetroChina continued developing unconventional resources, including shale oil and shale gas projects at Daqing Gulong, Xinjiang Mabei Fengcheng and western Chongqing, while expanding deep coalbed methane production.
Chemicals and New Materials Expansion
New materials production jumped 61.4% to 2.69 million tons during the first half, maintaining growth of around 50% for a fifth consecutive year. Chemical commodity production increased 6.7% to 21.32 million tons, while the refining, chemicals and new materials business generated RMB14.53 billion in operating profit. PetroChina processed 655 million barrels of crude and produced 54.35 million tons of refined products. The company also completed and commissioned its 1.2-million-ton-per-year Phase II ethylene project at Tarim and advanced investments in high-end polyolefins, carbon fiber, polyolefin elastomers and bio-based products. PetroChina is also expanding its presence in vehicle LNG and electric charging.
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PetroChina first-half profit rises 22% to record RMB103.94 billion
