PetroChina's Annual Profit, Revenue Likely Rose -- Earnings Preview

Dow Jones03-26

By Kimberley Kao

PetroChina is scheduled to report results for 2024 on Friday. Here is what you need to know:

NET PROFIT: The Chinese state-controlled oil company is likely to post full-year profit of 166.23 billion yuan, equivalent to $22.90 billion, according to the consensus estimate of analysts polled by Visible Alpha. That would be a 3.15% rise from 2023's record.

REVENUE: Annual revenue is expected at 3.087 trillion yuan, according to Visible Alpha, up 2.5% from the previous year.

The Chinese oil major's Hong Kong-listed shares rose 18% last year despite falling 3.6% in the fourth quarter.

WHAT TO WATCH:

--GAS PRICES: PetroChina's gas prices and better gas realization can help reduce its earnings dependence on crude oil, Citi Research analysts said in a note. Worries about an oversupply in the oil market have hurt sentiment on the stock, but strong gas earnings could help limit the downside, they said.

--TRADE POLICIES: There is limited impact from China's tariffs on U.S. energy imports, given that the U.S. accounts for only about 2% of China's crude imports, Citi analysts wrote in a separate note. Still, PetroChina seems to be the best placed among its peers as an alternative crude source, given its competitive crude and pipeline-gas import costs, they said.

Write to Kimberley Kao at kimberley.kao@wsj.com

(END) Dow Jones Newswires

March 25, 2025 23:06 ET (03:06 GMT)

Copyright (c) 2025 Dow Jones & Company, Inc.

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That would be a 3.15% rise from 2023's record. \n</p>\n<p>\n  REVENUE: Annual revenue is expected at 3.087 trillion yuan, according to Visible Alpha, up 2.5% from the previous year. \n</p>\n<p>\n  The Chinese oil major's Hong Kong-listed shares rose 18% last year despite falling 3.6% in the fourth quarter. \n</p>\n<pre>\n \n</pre>\n<p>\n  WHAT TO WATCH: \n</p>\n<p>\n  --GAS PRICES: PetroChina's gas prices and better gas realization can help reduce its earnings dependence on crude oil, Citi Research analysts said in a note. Worries about an oversupply in the oil market have hurt sentiment on the stock, but strong gas earnings could help limit the downside, they said. \n</p>\n<p>\n  --TRADE POLICIES: There is limited impact from China's tariffs on U.S. energy imports, given that the U.S. accounts for only about 2% of China's crude imports, Citi analysts wrote in a separate note. 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Here is what you need to know: \n</p>\n<pre>\n \n</pre>\n<p>\n  NET PROFIT: The Chinese state-controlled oil company is likely to post full-year profit of 166.23 billion yuan, equivalent to $22.90 billion, according to the consensus estimate of analysts polled by Visible Alpha. That would be a 3.15% rise from 2023's record. \n</p>\n<p>\n  REVENUE: Annual revenue is expected at 3.087 trillion yuan, according to Visible Alpha, up 2.5% from the previous year. \n</p>\n<p>\n  The Chinese oil major's Hong Kong-listed shares rose 18% last year despite falling 3.6% in the fourth quarter. \n</p>\n<pre>\n \n</pre>\n<p>\n  WHAT TO WATCH: \n</p>\n<p>\n  --GAS PRICES: PetroChina's gas prices and better gas realization can help reduce its earnings dependence on crude oil, Citi Research analysts said in a note. Worries about an oversupply in the oil market have hurt sentiment on the stock, but strong gas earnings could help limit the downside, they said. \n</p>\n<p>\n  --TRADE POLICIES: There is limited impact from China's tariffs on U.S. energy imports, given that the U.S. accounts for only about 2% of China's crude imports, Citi analysts wrote in a separate note. Still, PetroChina seems to be the best placed among its peers as an alternative crude source, given its competitive crude and pipeline-gas import costs, they said. \n</p>\n<pre>\n \n</pre>\n<p>\n  Write to Kimberley Kao at kimberley.kao@wsj.com \n</p>\n<pre>\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  March 25, 2025 23:06 ET (03:06 GMT)\n</p>\n<p>\n  Copyright (c) 2025 Dow Jones &amp; Company, Inc.\n</p>\n</font>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"601857","symbol_name":"中国石油","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2522186910","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2522186910","pubTimestamp":1742958360,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"PetroChina is scheduled to report results for 2024 on Friday. 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Worries about an oversupply in the oil market have hurt sentiment on the stock, but strong gas earnings could help limit the downside, they said.","collect":0,"end_time":0,"defaultTopTitle":"","property":["earning"],"viewcount":null,"language":"en","relate_stocks":{"601857":"中国石油","00857":"中国石油股份"},"translate_title":"中石油年度利润、收入可能增长——财报预览","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"601857":0.9,"00857":0.9},"content_text":"By Kimberley Kao \n\n\n \n\n\n  PetroChina is scheduled to report results for 2024 on Friday. Here is what you need to know: \n\n\n \n\n\n  NET PROFIT: The Chinese state-controlled oil company is likely to post full-year profit of 166.23 billion yuan, equivalent to $22.90 billion, according to the consensus estimate of analysts polled by Visible Alpha. That would be a 3.15% rise from 2023's record. \n\n\n  REVENUE: Annual revenue is expected at 3.087 trillion yuan, according to Visible Alpha, up 2.5% from the previous year. \n\n\n  The Chinese oil major's Hong Kong-listed shares rose 18% last year despite falling 3.6% in the fourth quarter. \n\n\n \n\n\n  WHAT TO WATCH: \n\n\n  --GAS PRICES: PetroChina's gas prices and better gas realization can help reduce its earnings dependence on crude oil, Citi Research analysts said in a note. Worries about an oversupply in the oil market have hurt sentiment on the stock, but strong gas earnings could help limit the downside, they said. \n\n\n  --TRADE POLICIES: There is limited impact from China's tariffs on U.S. energy imports, given that the U.S. accounts for only about 2% of China's crude imports, Citi analysts wrote in a separate note. Still, PetroChina seems to be the best placed among its peers as an alternative crude source, given its competitive crude and pipeline-gas import costs, they said. \n\n\n \n\n\n  Write to Kimberley Kao at kimberley.kao@wsj.com \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  March 25, 2025 23:06 ET (03:06 GMT)\n\n\n  Copyright (c) 2025 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0,"code":"91000000","status":"200"},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.33.2","shortVersion":"4.33.2","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2522186910"}