PetroChina Q3 Profit Surges 21.6% on Iran War-Inflated Oil Prices

PetroChina's Q3 net profit rose 21.6% year-on-year to $7.78 billion, driven by higher oil and gas prices linked to the Iran conflict, despite declines in crude output, refinery runs, and domestic diesel sales over nine months. The profit surge reflects price gains rather than operational strength, with volumes weakening. This underscores the war premium in energy markets and its earnings impact on major producers.

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