BUZZ-PetroChina climbs on optimistic outlook, high oil prices

Reuters03-30
BUZZ-PetroChina climbs on optimistic outlook, high oil prices

** Hong Kong shares of PetroChina 0857.HK climb 2.8% to HK$11.28, highest point since March 9

** Set for biggest one-day pct rise since March 3, if gains hold

** Shanghai-listed stock 601857.SS gains 3.9% to 12.54 yuan, highest level since March 9

** Asia's largest oil and gas producer's 2025 annual net profit dropped 4.5% from 2024 record, as lower oil prices weighed

** Citi maintains "buy" rating, saying 4Q in line, expects 1Q-2Q26 earnings to rebound while refining could hold up well on larger Russian crude discount

** Says PetroChina beneficiary of Middle East LNG export disruptions due to its gas resources

** Brent headed for a record monthly rise O/R

** YTD, HK stock up 32.7%, Shanghai-listed shares up 19.2%

(Reporting by Donny Kwok)

((donny.kwok@thomsonreuters.com))

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