PetroChina stock falls 1.55 percent as profit rises 22 percent

Published on 10/04/2026 at 13:57 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

PetroChina stock posted HKD 9.52 on October 2, 2026, after first-half profit reached CNY 103.94 billion. LNG Canada expansion doubles planned capacity to 28 million tonnes.

PetroChina, CNE1000003W8, Illustration mit AI erstellt.

PetroChina (ISIN CNE1000003W8) stock last traded at HKD 9.52 on the Hong Kong Stock Exchange on October 2, 2026, down 1.55 percent from HKD 9.66. The latest operating picture is stronger: South China Morning Post reported on August 31, 2026, that first-half profit rose 22 percent.

Profit reaches CNY 103.94 billion

Bloominglobal reported that PetroChina's profit attributable to owners reached CNY 103.94 billion in the first half of 2026, a 22.0 percent year-over-year increase. Revenue rose 5.3 percent to CNY 1.527 trillion, giving investors a concrete comparison between earnings growth and sales growth.

The oil, gas and new energy segment generated CNY 100.45 billion in operating profit during the first half, according to the same August 2026 report. That concentration makes oil prices and gas economics central to the earnings outlook, while refining and chemicals remain important counterweights.

LNG Canada doubles planned capacity

PetroChina owns a 15 percent interest in LNG Canada. Yahoo Finance reported on October 1, 2026, that the project approved a Phase 2 expansion that would double production capacity to 28 million tonnes a year.

The strategic benefit comes with capital-allocation questions. Bloomberg reported on September 22, 2026, that Abu Dhabi-based XRG was discussing a possible purchase of interests from LNG Canada partners, including PetroChina. The talks were described as exploratory, so the 15 percent holding remains a key variable for future gas exposure.

Valuation meets a weaker share session

PetroChina's Hong Kong shares traded between HKD 9.48 and HKD 9.60 on October 2, 2026, with volume of 31,599,437 shares. The 52-week range was HKD 7.05 to HKD 12.22, placing the latest price HKD 2.70 below the high and HKD 2.47 above the low.

Simply Wall St wrote on October 3, 2026, that PetroChina traded at a P/E ratio of 8.5x, versus 11.8x for the Asian oil and gas industry and 11.2x for its peer group. The comparison frames the stock's 1.55 percent daily decline against a valuation that remains below those reference groups.

PetroChina stock stays below HKD 10

PetroChina had a market capitalization of HKD 2.3 trillion as of October 2, 2026. The combination of CNY 103.94 billion in first-half profit, the 22.0 percent earnings increase and the LNG Canada expansion leaves commodity prices, project funding and capital returns as the main variables for the next valuation move.