花旗料中石油次季净利润按年降8% 仍为行业首选

Core Viewpoint - Citigroup predicts that PetroChina's net profit for Q2 2025 will decline by approximately 18% quarter-on-quarter and 8% year-on-year, reaching around 38.5 billion RMB, primarily due to falling crude oil prices [1] Group 1: Company Performance - PetroChina's projected net profit for Q2 2025 is approximately 38.5 billion RMB, reflecting an 8% year-on-year decrease [1] - In contrast, Sinopec's preliminary earnings for the first half of 2025 are estimated to be between 20.1 billion and 21.6 billion RMB, indicating a quarter-on-quarter decline of 45% to 56% and a year-on-year decrease of 58% to 67% [1] Group 2: Investment Outlook - Citigroup maintains its "Buy" rating for PetroChina and sets a target price of 8.2 HKD [1] - Despite the projected decline in profits, PetroChina remains the preferred choice among Chinese oil and gas stocks according to Citigroup [1]