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PetroChina and Sinopec Boost Profits as Oil Prices Rise

By Drooid · Oct 30, 2026 · How we work

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Summary

State-owned oil majors posted higher third-quarter profits as oil prices rose.
PetroChina and Sinopec saw earnings increase after the Persian Gulf war lifted prices.
PetroChina pledged to spend over 40 billion yuan annually on domestic exploration through 2030.
Sinopec’s export margins reached $65 per barrel, far above the $10-$25 domestic range.

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State-owned oil majors posted higher third-quarter profits as oil prices rose.
PetroChina and Sinopec saw earnings increase after the Persian Gulf war lifted prices.
PetroChina pledged to spend over 40 billion yuan annually on domestic exploration through 2030.
Sinopec’s export margins reached $65 per barrel, far above the $10-$25 domestic range.