PetroChina logs best-ever profit, benefits from high global energy prices

PetroChina posted its best-ever first-half earnings as the nation’s top oil and gas driller benefited from soaring global energy prices, and said that government stimulus is starting to lift Chinese oil demand. 
 
The firm reported 82.39 billion yuan ($12 billion) in net income for the first half of the year, up 55 per cent from the same period in 2021, according to an exchange filing on Thursday. Revenue rose 35 per cent to 1.61 trillion yuan.
 
Global crude prices averaged $105 a barrel in the first six months, 62 per cent higher than last year, providing a windfall