PetroChina Company Limited reported solid third-quarter 2026 results, driven by higher crude benchmarks and disciplined cost control.
Revenue and Earnings • July–September revenue reached RMB 793.57 billion, up 10.4 % year-on-year. • Profit attributable to shareholders rose 21.6 % to RMB 51.84 billion, lifting quarterly ROE to 3.2 %. • Basic earnings per share increased to RMB 0.28 from RMB 0.23.
Nine-Month Performance • January–September revenue expanded 7.0 % to RMB 2,321.06 billion. • Profit attributable to shareholders grew 21.9 % to RMB 155.78 billion; ROE improved to 9.5 %. • Operating cash flow advanced 8.8 % to RMB 373.54 billion.
Segment Highlights (nine months, revenue / operating profit) 1. Oil, Gas & New Energy: RMB 666.49 billion / RMB 152.02 billion – Average realized crude price US $77.65 per barrel, up 18.5 %. – Marketable gas output climbed 2.3 % to 4,069.4 billion cubic feet. – Wind and solar generation jumped 35.5 % to 7.84 billion kWh.
2. Refining, Chemicals & New Materials: RMB 903.33 billion / RMB 23.13 billion – Ethylene output rose 26.4 %; new-materials volume surged 58.5 %.
3. Marketing: RMB 1,938.77 billion / RMB 14.50 billion – Total domestic fuel sales declined 5.7 % to 84.52 million tonnes amid accelerating energy substitution, partly offset by stronger international trading margins.
4. Natural Gas Sales: RMB 464.99 billion / RMB 33.29 billion – Gas sales volume grew 3.0 % to 231.30 billion cubic metres, with a 1.0 % rise in domestic deliveries.
Balance Sheet • Total assets stood at RMB 3,106.14 billion, up 8.5 % from year-end 2025. • Equity attributable to shareholders edged up 0.9 % to RMB 1,632.06 billion.
Operational Metrics • Oil and gas equivalent production was 1,376.8 million barrels; domestic output increased 1.1 %, while overseas volumes fell 10.0 % owing to Middle East disruptions. • The refining segment processed 1,002.2 million barrels of crude, down 3.7 % year-on-year, reflecting lower domestic demand for refined products.
Shareholder Structure China National Petroleum Corporation remains the controlling shareholder with an 82.28 % stake; HKSCC Nominees Limited holds 11.44 %. Total ordinary shareholders numbered 453,297 at quarter-end.
Outlook Indicators Management cited volatile global geopolitics and ongoing energy transition as key external variables but emphasized continued focus on exploration spending, high-load refining runs, and expansion of renewable and advanced-materials projects to sustain earnings momentum.