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PetroChina's Remarkable H1 2026 Performance

PetroChina Company Limited has announced extraordinary operating results for the first half of 2026, showcasing robust performance amid challenging conditions in the global oil and gas markets. As they navigate the complexities of international dynamics and market volatility, PetroChina has taken proactive steps to enhance production organization and operational efficiency, resulting in record-high performance.

In this six-month period, the company achieved a remarkable revenue of RMB 1,527.49 billion, which marks a 5.3% year-on-year increase. Furthermore, profit attributable to the company’s owners climbed to RMB 103.94 billion, breaking the RMB 100 billion threshold for the first time in a six-month timeframe, representing an impressive year-on-year growth of 22.0%. Basic earnings per share also surged to RMB 0.57.

Strengthening Oil and Gas Supply Capabilities

The company has consistently focused on enhancing its oil and gas supply capabilities while advancing its new energy initiatives. By encouraging productive exploration and sustainable development, PetroChina has made significant discoveries, including six new oil and gas sources and 19 new developments. They have successfully established substantial reserve areas, such as the Cambrian system in the Sichuan Basin and a major deep conventional oil reserve in the Tarim Basin.

During this half-year, PetroChina reported an oil and gas equivalent output of 921 million barrels, with domestic crude oil production reaching 393 million barrels, and marketable natural gas output soaring to 2.66 trillion cubic feet, both achieving record levels for this period. Notably, their renewable energy initiatives also accelerated dramatically, with wind and solar power generation reaching 5.07 billion kWh, marking a 37.3% year-on-year increase. Additionally, advancements in carbon capture, utilization, and storage have been made, injecting 1.37 million tons of CO2, a 14.2% increase from last year.

Refining Advancements and New Materials Innovations

PetroChina's commitment to refining transformation has been substantial, with innovative strategies yielding remarkable progress. The company has adeptly adapted its product development to meet market needs, optimizing the mix of high-value refining and chemical products. Key projects like the ethylene plant in Tarim have commenced operations, becoming a benchmark for green and low-carbon development in China.

The initiation of several projects in the new materials sector has also been noteworthy, including high-performance carbon fiber and polyolefin elastomer projects. The demand for chemical products surged, with domestic market shares for several products, including bonded marine fuel oil and low-sulfur petroleum coke, remaining dominant. In total, PetroChina processed 655 million barrels of crude oil, with refined product output reaching 54.35 million tons.

Strengthening Marketing Capabilities

In its marketing efforts, PetroChina has made great strides by enhancing its refined products sales and expanding market share. Significant investments in developing vehicle LNG refueling and charging infrastructure have been made, along with the establishment of 592 integrated energy stations and new LNG refueling stations across the country.

The company reported a substantial increase in vehicle LNG sales volume, up 78.7% year-on-year, while charging volume skyrocketed by 150%. This growth trajectory has contributed to an operating profit of RMB 11.36 billion in the marketing sector.

Commitment to Technological Innovation

Technological innovation remains at the core of PetroChina's strategic vision. By fostering a culture of research and development, the company has set up innovation centers and focused on attaining breakthroughs in key technologies. The number of new invention patents granted surged 174% year-on-year, evidencing the company's commitment to innovation and development.

As PetroChina progresses into the second half of 2026, the company plans to adapt to both domestic and international market trends while sustaining its operational focus on profitability, innovation, and green development. With ambitious plans to bolster the two main pillars of its oil and gas industry chains and enhance new energy and materials capabilities, PetroChina aims to foster stability and growth in its profitability and overall corporate value.

For further details on PetroChina's operations and initiatives, visit PetroChina's website.