PetroChina Company (857) Q2 2026 earnings summary

Executive summary

• Revenue for the first half of 2026 rose 5.3% year-over-year to RMB1,527,491 million, with net profit attributable to owners up 22.0% to RMB103,936 million and basic EPS at RMB0.57.

• All operating segments remained profitable, supported by cost control, efficiency enhancements, and significant growth in new energy output and improved ESG ratings.

• Maintained a sound financial position with increased total and net assets, stable gearing ratio, and robust cash flow.

• Delivered strong returns to shareholders with a record interim dividend of RMB0.26 per share (totaling RMB47.59 billion) and a high payout ratio.

• Operating profitability improved significantly, with all segments contributing to growth.

Financial highlights

• Operating income reached RMB1,527,491 million, up 5.3% year-over-year.

• Net profit attributable to owners increased 22.0% year-over-year to RMB103,936 million.

• Basic and diluted EPS grew to RMB0.57, up from RMB0.47 year-over-year.

• Net cash flows from operating activities rose 10.6% year-over-year to RMB251,281 million.

• Total assets increased 5.6% to RMB3,024,034 million.

Outlook and guidance

• The company expects continued low-speed global economic growth and oil price volatility due to geopolitical risks.

• Strategic focus remains on innovation, green and low-carbon transition, and quality and profitability enhancement.

• Capital expenditures for 2026 are estimated at RMB279,400 million, with a focus on oil, gas, new energy, and refining projects.