日经亚洲周末综述：中石化、中石油、中海油因霍尔木兹通道受阻加大巴西等非中东原油进口并增产，内容全为8月下旬业绩会与7月海关数据的旧事实汇总

HONG KONG -- China's three major state-owned petroleum companies are diversifying their crude oil sourcing and ramping up domestic and overseas production as part of joint efforts with the government to bolster energy security.
"The Middle East used to account for half of our crude oil imports, but because of the Strait of Hormuz route is not available, we are doing everything we can to diversify sources of our supply," Sinopec Chairman Hou Qijun said at an earnings conference here Aug. 24.
Sinopec procures crude oil primarily from abroad and refines it in China. The company is "stepping up sourcing from South American and Africa," Hou said. The U.S. military action against Iran is "having a huge impact, but we have overcome" the supply challenges," he said.
Sinopec did not identify supplier countries. But Brazil accounted for 14% of China's crude oil imports in July, up from 8% for all of 2025, according to Chinese media reporting.
The push to source crude from Brazil appears driven by the government and state-run companies. After Foreign Minister Wang Yi met with Brazilian counterpart Mauro Vieira in June, state-owned lender China Construction Bank in July announced 2.7 billion yuan in lending ($402 million) to Brazilian state-owned oil company Petrobras.
"China's government and state-owned oil giants are working together on the country's energy policy," a senior executive at a foreign energy company in China said.
China relies on imports for about 70% of its crude oil consumption, with the Middle East making up more than 40% of such imports. But with the Strait of Hormuz crisis, Beijing has apparently boosted imports from elsewhere, including Russia, Brazil and Africa, and the Middle East's share declined to roughly 30% for the January-June half, by one analysis.
PetroChina and CNOOC, which focus mainly on production of crude oil, are lifting output. PetroChina increased domestic production of crude oil and natural gas by 1% on the year for the first six months of 2026. Production in the Middle East region also "recovered to close to 90% of the levels" seen before the U.S.-Iran conflict began, President Ren Lixin told a news conference on Aug. 31.
Offshore oil field developer CNOOC reported a 4% increase in crude and liquids production for the January-June period. The company "focused on bolstering reserves and lifting production in the first half," President Huang Yongzhang told reporters on Aug. 27. CNOOC successfully explored offshore oil fields in China and began production in new fields, while also starting to drill at a new field in Brazil, the company said.
The trio's efforts are in line with China's new five-year plan for petroleum and natural gas development, announced in August. Beijing targets a 5% increase in production between 2025 and 2030.
Higher oil prices are boosting the energy behemoths' performance. PetroChina's revenue rose 5% to 1.52 trillion yuan for the January-June half, with net profit surging 22% to 103.9 billion yuan. Sinopec reported a 2% growth in revenue to 1.43 trillion yuan, with net profit rising 12% to 26.5 billion yuan. CNOOC logged a 20% gain in oil and gas sales revenue to 206 billion yuan and 23% growth in net profit to 85.8 billion yuan.