0916 GMT - Gas is likely to remain a structural growth driver for PetroChina, DBS Group Research writes in a note. China's energy transition efforts and domestic supply security priorities are likely to drive its gas business segment, with management guiding for increased spending this year to support upstream and gas infrastructure expansion, DBS says, noting PetroChina's resilient business model supports a stable outlook. Net profit for 2025 was impacted by 14% lower realized oil prices, but encouraging improvements to the performance in other segments help offset some profit decline and helped the oil giant outperform its rivals, DBS says, noting, "PetroChina remains a safer proxy to oil price leverage." DBS retains a buy rating on the stock, which closed 1.6% higher in Hong Kong. (kimberley.kao@wsj.com)

(END) Dow Jones Newswires

March 30, 2026 05:16 ET (09:16 GMT)

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