PetroChina Projects Record 2026 Trading Profits Over 20 Billion Yuan
PetroChina expects record trading profits exceeding 20 billion yuan by leveraging global supply disruptions and a diversified production portfolio.
The trading vehicle of PetroChina, PetroChina International, is projected to achieve record gross profits exceeding 20 billion yuan in 2026. The company has capitalized on tight global fuel markets and supply disruptions resulting from the Russia-Ukraine war and the war in Iran.
PetroChina has insulated itself from volatility in the Strait of Hormuz through a diversified production portfolio and the operation of overseas refineries in France and Singapore. Chairman Houliang Dai stated that the Strait of Hormuz accounts for only 10 percent of the company's system requirements. This strategic positioning provides a competitive advantage over Sinopec, which remains more vulnerable due to a higher reliance on Middle Eastern oil.
Profit growth has been driven by high margins at overseas refineries, arbitrage trades, and physical cargo gains. The company specifically benefited from discounted oil provided by producers including Saudi Aramco and Iraq's State Organization for Marketing of Oil, the latter of which deepened discounts for oil loading at its terminals.
