PetroChina Trading Arm Eyes Record $3B Profit

PetroChina International, the trading arm of China’s state-owned energy giant, is expected to earn more than 20 billion yuan (about $3 billion) in gross trading profit in 2026, which would be a record. Trading sources attribute the outlook to Middle East conflict and disruption around the Strait of Hormuz, which have driven price volatility and reshaped oil and fuel flows, creating favorable trading opportunities. PetroChina has also benefited from its broad production and supply portfolio and overseas refining operations, while its crude, fuel and natural-gas trading divisions have performed strongly. The market turmoil has bolstered other energy companies as well: European majors including TotalEnergies, Shell and Equinor have reported or anticipate strong trading and refining results.