China's three state-owned oil majors—PetroChina, CNOOC and Sinopec—reported a combined attributable net profit of about 215.4 billion yuan ($32.1 billion) for the first half of 2026, or nearly 1.19 billion yuan a day, after all three posted double-digit year-on-year profit growth. PetroChina became the first of the group to clear 100 billion yuan in half-year net profit, with attributable profit of 103.94 billion yuan, up 22.0%, on revenue of about 1.53 trillion yuan, up 5.3%. CNOOC’s attributable net profit rose 23.4% to 85.82 billion yuan on revenue of 242.66 billion yuan, while Sinopec’s attributable net profit increased 19.3% to 25.6 billion yuan on revenue of 1.44 trillion yuan. Higher international oil prices were a key external driver, with Brent averaging $87.60 a barrel, up 23.7% year-on-year, and WTI averaging $82.77, up 22.6%. All three announced interim dividends totaling nearly 100 billion yuan, and analysts at Dongxing Securities said oil prices are expected to stay at medium-to-high levels as Chinese demand recovers.