PetroChina backs LNG Canada expansion as target for PetroChina stock hits CNY 16.49

Published on 10/05/2026 at 10:07 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

First-half revenue rose 5.30 percent to CNY 1.5275 trillion. PetroChina stock costs EUR 1.09 on October 5, 2026 after EUR 1.08, plus 0.93 percent.

PetroChina, CNE1000003W8, Illustration mit AI erstellt.

PetroChina (CNE1000003W8) backed the LNG Canada Phase 2 expansion to 28 million tonnes of annual capacity, while Guotai Haitong kept an Add rating and set a CNY 16.49 target in its September 5, 2026 review. PetroChina stock traded at EUR 1.09 at Lang & Schwarz on October 5, 2026 at 10:00 a.m. CEST, up 0.93 percent versus the EUR 1.08 prior close.

LNG Canada doubles planned capacity

As Yahoo Finance reported on October 1, 2026, LNG Canada approved Phase 2, which is expected to double the project's capacity to 28 million tonnes a year. PetroChina holds a 15 percent stake, linking its Canadian gas exposure to a larger export platform.

The same report identified talks with Abu Dhabi National Oil Co. unit XRG over a possible stake transaction as a key issue for PetroChina's capital allocation. That makes the expansion strategically important, but the ownership question remains a concrete factor for investors assessing future cash generation.

Profit growth strengthens the case

According to Futubull on September 18, 2026, PetroChina reported first-half 2026 revenue of CNY 1.5275 trillion, up 5.30 percent year over year. Net profit attributable to shareholders reached CNY 103.9 billion, up 22.00 percent, while operating cash flow rose 10.60 percent to CNY 251.3 billion.

Guotai Haitong's review on September 5, 2026 put the improvement into operating context. Second-quarter revenue reached CNY 791.1 billion, up 13.50 percent year over year, while net profit attributable to shareholders climbed 49.50 percent to CNY 55.6 billion. The oil, gas and new energy segment delivered operating profit of CNY 100.448 billion in the first half, up 15.30 percent.

Stock remains below its yearly high

PetroChina's Hong Kong-listed H shares were quoted at HKD 9.52 on October 4, 2026, according to the exchange data shown by Investing.com, against a 52-week high of HKD 12.22. That places the share 22.09 percent below the high, while the company carried a market capitalization of HKD 2.3 trillion on the same dated quote page.

Guotai Haitong's CNY 16.49 target stands above the CNY 9.52 A-share reference used in its valuation framework, but the target and the Lang & Schwarz euro quote are different instruments and currencies. The company is scheduled to report its next earnings on October 29, 2026, according to Investing.com.

Price holds near EUR 1.09

At Lang & Schwarz, PetroChina was trading at EUR 1.09 on October 5, 2026 at 10:00 a.m. CEST, plus 0.93 percent versus the EUR 1.08 prior close from October 2, 2026. The quote remains an intraday indication for German-market investors, separate from the Hong Kong share price and the Shanghai-listed A share.

The further course of trading is shown by the continuously updated real-time quote of PetroChina stock.