PetroChina posts record $7 billion quarterly profit on higher oil prices

8 articles · Updated · Bloomberg · Apr 29

PetroChina reported a net income of 48.33 billion yuan ($7 billion) for the first quarter of 2026, surpassing last year’s 46.8 billion yuan.
The surge in profit is attributed to rising global energy prices, which have been driven by the ongoing war in the Middle East.
As China’s largest oil and gas producer, PetroChina continues to benefit from geopolitical tensions affecting energy markets, reinforcing its position in the industry.

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