PetroChina Trading Arm Forecast to Top $3 Billion in Gross Trading Profit

PetroChina International is forecast to generate more than 20 billion yuan, or about $3 billion, in gross trading profit during 2026, which would mark a unit record. The estimate covers the trading arm’s full calendar year and is not a result disclosed in PetroChina’s interim financial statements. The forecast reflects shifts in oil movements and fuel markets tied to the Iran war. Middle Eastern producers outside Iran sold discounted oil cargoes as freight costs rose, while traders shifted shipments between markets. Tighter fuel markets supported margins at PetroChina’s overseas refineries. The unit’s fuel-products and natural-gas divisions were also performing strongly. Exporters led by Abu Dhabi National Oil Company used shuttle fleets to move oil across the Strait of Hormuz and sell cargoes through spot tenders.

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