PetroChina Reports Record High Operating Results for 1H 2024

PetroChina Company Limited announced exceptional operating results for the first half of 2024. The Beijing-based firm posted an operating income of RMB 1.6 trillion, a 5% increase year-on-year. Net profit attributable to equity holders rose by 3.9% to RMB 88.61 billion. The debt-to-asset ratio dropped to 39.4%, the lowest in 14 years.

PetroChina's oil, gas, and new energies businesses grew steadily. Crude oil production hit 64.45 million tons, while natural gas output reached 73.18 billion cubic meters. New energy sources like wind and solar generated 2.17 billion kilowatt-hours.

The refining, chemicals, and new materials sectors showed strong performance. The Company processed 0.69 billion barrels of crude oil, with significant growth in ethylene projects. The refining business generated an operating profit of RMB 13.63 billion.

The marketing business saw stable sales of refined products and achieved a profit of RMB 10.10 billion. The natural gas marketing business grew by 19% year-on-year, with sales reaching 147.22 billion cubic meters.

PetroChina will focus on high-quality development and adjust strategies in response to market changes for the remainder of 2024, aiming to enhance profitability and shareholder value.