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PetroChina has announced the shipment of approximately <strong>2 million barrels</strong> of crude oil from its reserves in China to a joint refinery in Singapore, aiming to address the severe supply shortage caused by the ongoing war in Iran.
PetroChina has reported that its operations remain stable despite the Iranian unrest in the Strait of Hormuz. However, its investments in the Middle East have been variably affected, with imports of oil and gas through the strait accounting for about 10% of its total operations.
PetroChina announced a 4.5% decrease in its annual net profits for 2025, totaling <strong>157.3 billion yuan</strong> (approximately <strong>22.76 billion USD</strong>). This decline is attributed to reduced revenues and increased production costs.