PetroChina Co. reported its best-ever quarterly profit, with Q1 net income rising to 48.33 billion yuan ($7 billion) from 46.8 billion yuan a year earlier, driven by higher energy prices amid Middle East conflict and Strait of Hormuz disruption. Upst

2026-04-29

PetroChina Co. reported its best-ever quarterly profit, with Q1 net income rising to 48.33 billion yuan ($7 billion) from 46.8 billion yuan a year earlier, driven by higher energy prices amid Middle East conflict and Strait of Hormuz disruption. Upstream profit fell 12% despite a 0.7% output increase due to crude prices are weaker, while gas profit rose to 18.87 billion yuan. Marketing and refining segments saw strong gains, up 28% and 54% respectively. Elevated global prices supported chemicals and exports, offsetting refining pressure.

Other News
2026-04-29

- S&P 500 futures were relatively unchanged on Wednesday, while oil prices continued their rally amid a U.S. blockade of Iranian ports. - Traders also awaited the conclusion of what could be Jerome Powell’s final policy meeting as Federal Reserve cha

2026-04-29

HKEX: IPO FUNDRAISING IN 1Q WAS HK$110.4B; NEARLY SIX TIMES RAISED SAME PERIOD YEAR AGO