PetroChina Company (857) Q3 2026 earnings summary

Executive summary

• Production and operations remained safe and stable amid volatile energy markets; results benefited from higher crude prices, gas production growth, cost controls and stronger trading profitability.

Financial highlights

• Nine-month revenue rose 7.0% YoY to RMB 2,321,064 million; profit attributable to owners was RMB 155,776 million, up 21.9%.

• Q3 revenue was RMB 793,573 million, up 10.4% YoY; profit attributable to owners was RMB 51,840 million, up 21.6%.

• Nine-month IFRS operating profit rose to RMB 208,340 million from RMB 176,959 million; profit for the period was RMB 171,977 million versus RMB 141,668 million.

• Nine-month CAS net profit attributable to shareholders was RMB 155,773 million, up 21.9%; profit excluding non-recurring items was RMB 158,899 million, up 23.7%.

• Operating cash flow rose 8.8% to RMB 373,539 million; free cash flow was RMB 214,099 million, up 29.1%.

Segment performance

• Oil, Gas and New Energy revenue rose 6.5% to RMB 666,494 million; operating profit increased 19.7% to RMB 152,023 million. Domestic oil and gas equivalent output rose 1.1% to 1,248.3 million boe.

• Domestic marketable natural gas output increased 2.3% to 3,947.2 bcf; Natural Gas Sales operating profit rose 6.4% to RMB 33,293 million and sales volume rose 3.0% to 231.302 bcm.

• Refining, Chemicals and New Materials revenue rose 9.4% to RMB 903,328 million; operating profit was RMB 23,132 million versus RMB 16,240 million. Refining operating profit was RMB 18,027 million versus RMB 14,453 million.

• Crude processing volume was 1,002.2 million bbl; chemical product volume rose 11.2%, while chemical commodity product marketable volume fell from 32,892 to 29,590 thousand tons.

• Marketing operating profit rose 24.7% to RMB 14,500 million, primarily on higher international trading profit; refined-product sales volume fell 5.1%.