Petrochina shares rise as Q3 profit surges on strong oil prices

 PetroChina’s Hong Kong-listed shares rose on Thursday after the company reported a sharp rise in third-quarter profit, as elevated oil and gas prices tied to the ongoing Middle East conflict boosted earnings well ahead of expectations.

The stock rose 3.2% to HK$10.27, while its Shanghai shares climbed 1.1%.

Third-quarter net income attributable to shareholders climbed approximately 21.6% year-over-year to 51.84 billion yuan ($7.78 billion), while quarterly revenue rose 10.4% to 793.57 billion yuan, Petrochina said in a disclosure on Wednesday evening. 

Asia’s largest oil and gas producer benefited greatly from soaring crude prices during the quarter, as persistent supply disruptions in the Middle East disrupted global markers and drove up prices. 

The company produced 698.6 million barrels of crude in the first nine months of 2026, down 2.2% year-on-year, while refinery throughput fell 3.7% to 1,002.2 million barrels.