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)

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