Key facts
- PetroChina International's gross trading profit expected to exceed $3 billion in 2026.
- Crude oil division earnings more than doubled for 2025 by early October.
- Company benefits from high price volatility and arbitrage opportunities in crude, fuels, and LNG trading.
- PetroChina's first-half profit attributable to shareholders rose 22% to $15.5 billion.
- Only 10% of PetroChina's system requirements pass through the Strait of Hormuz.
PetroChina International (PCI), the trading arm of Asia's largest oil and gas producer PetroChina, is on track to achieve a record gross trading profit exceeding $3 billion (20 billion yuan) in 2026. This surge is driven by tight global fuel markets and high price volatility, amplified by the ongoing Iran war and its impact on crude prices and trade flows. PetroChina's extensive upstream portfolio and downstream operations outside China are reaping record-high margins, while its crude and LNG trading divisions benefit from price fluctuations and arbitrage opportunities. For the first half of 2026, PetroChina reported a record profit attributable to shareholders, up 22% year-over-year to $15.5 billion. The company's strategic advantage includes limited reliance on the Strait of Hormuz, with only 10% of its system requirements passing through the critical chokepoint.