<PAGE>
                             U.S. SECURITIES AND EXCHANGE COMMISSION
                                     Washington, D.C.  20549

                                           FORM 10-QSB

OMB Approval
OMB Number:  xxxx-xxxx
Expires:  Approval Pending
Estimated Average Burden Hours per Response:  1.0

(Mark One)

[xx] Quarterly report under Section 13 or 15(d) of the Securities Exchange
     Act of 1934

For the quarterly period ended:	September 30, 2004

[  ] Transition report under Section 13 or 15(d) of the Exchange Act

For the transition period from ___________ to __________

Commission File number:		0-3912

                          PETROL INDUSTRIES, INC.
   -----------------------------------------------------------------
   (Exact Name of Small Business Issuer as Specified in its Charter)

            Nevada                             75-1282449
-------------------------------     ------------------------------------
(State or Other Jurisdiction of     (IRS Employer Identification Number)
 Incorporation of Organization)

       202 N. Thomas, Suite 4          Shreveport, LA  71107-6539
       ----------------------------------------------------------
              (Address of Principal Executive Offices)

                          (318) 424-6396
          ------------------------------------------------
          (Issuer's Telephone Number, Including Area Code)

                                 N/A
        ----------------------------------------------------
        (Former Name, Former Address and Former Fiscal Year,
                   if Changed Since Last Report)

     Check whether the issuer: (1) filed all reports required to be filed by
Section 13 or 15(d) of the Exchange Act during the past 12 months (or for such
shorter period that the registrant was required to file such reports), and (2)
has been subject to such filing requirements for the past 90 days.

      YES  [xx]    No [  ]

                   APPLICABLE ONLY TO ISSUERS INVOLVED IN
                     BANKRUPTCY PROCEEDINGS DURING THE
                           PRECEDING FIVE YEARS

     Check whether the registrant filed all documents and reports required to
be filed by Section 12, 13, or 15(d) of the Exchange Act after the
distribution of securities under a plan confirmed by a court.

     Yes [   ]   No [   ]

                     APPLICABLE ONLY TO CORPORATE ISSUERS

     State the number of shares outstanding of each of the issuer's classes of
common equity, as of the latest practicable date:                 1,597,196



<PAGE>
<TABLE>
                            PART I - FINANCIAL INFORMATION

Item 1.  Financial Statements.

                        PETROL INDUSTRIES, INC. & SUBSIDIARIES
                             Consolidated Balance Sheets

                                                          September 30,   December 31,
                                                              2004            2003
                                                          -------------   ------------

                                                         <c>             <c>
                    ASSETS
                    ------
Current assets:
  Cash and cash equivalents                                 $    67,796         25,074

  Accounts receivable:
    Trade                                                        79,241         66,502
    Other                                                         9,498          9,498
                                                             ----------     ----------
                                                                 88,739         76,000

Inventory                                                        28,468         26,681
Prepaid expenses                                                 11,288          7,483
                                                             ----------     ----------
          Total current assets                                  196,291        135,238
                                                             ----------     ----------
Property and equipment, at cost:
  Land                                                            7,000          7,000
  Developed and undeveloped oil and gas
    properties-successful efforts method                      3,115,631      3,204,029
  Trucks and other operating equipment                          379,072        387,429
  Furniture and fixtures                                         36,306         36,306
                                                             ----------     ----------
                                                              3,538,009      3,634,764
  Less accumulated depreciation, depletion and
    amortization                                              3,455,021      3,540,136
                                                             ----------     ----------
                                                                 82,988         94,628

Other assets                                                      1,107          1,107
                                                             ----------     ----------

                                                            $   280,386        230,973
                                                             ==========     ==========
       LIABILITIES AND STOCKHOLDERS' DEFICIT
       -------------------------------------
Current liabilities:
  Accounts payable                                          $    53,795         65,811
  Payable to interest owners                                    323,284        310,048
  Payable to officer, net                                     1,042,717        999,735
  Notes payable                                                 185,256        269,756
  Accrued expenses                                              100,339        104,440
                                                             ----------     ----------
          Total current liabilities                           1,705,391      1,749,790
                                                             ----------     ----------
Stockholders' deficit:
  Preferred stock-no par value. Authorized 1,000,000
    shares; no shares issued or outstanding                         ---            ---
  Common stock-$.10 par value. Authorized 10,000,000
    shares; issued and outstanding 1,597,196 shares
    in 2003 and 2002                                            159,720        159,720
  Accumulated deficit                                        (1,584,725)    (1,678,537)
                                                             ----------     ----------
          Total stockholders' deficit                        (1,425,005)    (1,518,817)
                                                             ----------     ----------

                                                            $   280,386        230,973
                                                             ==========     ==========
</TABLE>

<PAGE>
<TABLE>

                                  PETROL INDUSTRIES, INC.

                           Consolidated Statements of Operations
                                       (unaudited)



                                       Quarter Ended                 Nine Months Ended
                                       September 30,                    September 30,
                                    -------------------              ------------------
                                    2004           2003              2004          2003
                                    -------------------              ------------------

                             <c>             <c>               <c>          <c>
Revenues:
  Oil and gas sales             $  210,254        185,332           622,729      558,574
  Other operating income             5,927          3,195             8,448       10,829
                                 ---------      ---------         ---------    ---------
                                   216,181        188,527           631,177      569,403
                                 ---------      ---------         ---------    ---------

Expenses:
  Lease operating expense          178,144        176,852           500,429      473,350
  General and administrative        46,292         47,581           141,807      124,756
  Depreciation, depletion
    and amortization                 2,865          3,330             8,595        9,990
                                 ---------      ---------         ---------    ---------
                                   227,301        227,763           650,831      608,096
                                 ---------      ---------         ---------    ---------

    Operating loss              $  (11,120)       (39,236)          (19,654)     (38,693)
                                 ---------      ---------         ---------    ---------

Other income and (expense):
  Gain on sale of assets               ---         72,000           148,144      133,500
  Interest income                       65              2               696           65
  Interest expense                 (15,436)       (17,016)          (47,774)     (50,702)
                                 ---------      ---------         ---------    ---------
                                   (15,371)  	   54,986           101,066       82,863
                                 ---------      ---------         ---------    ---------

     Net income/(loss)          $  (26,491)        15,750            81,412       44,170
                                 =========      =========         =========    =========

Net loss per share              $    (0.02)          0.01              0.05         0.03
                                 =========      =========         =========    =========

Average common shares
  outstanding                    1,597,196      1,597,196         1,597,196    1,597,196
                                 =========      =========         =========    =========


</TABLE>


<PAGE>
<TABLE>

                                  PETROL INDUSTRIES, INC.

                           Consolidated Statements of Cash Flows

                        Nine months ended September 30, 2004 and 2003
                                         (unaudited)




                                                                2004         2003
                                                                ----         ----

                                                         <c>           <c>
Operating activities:
  Net income/(loss)	                                    $  81,412       44,170
  Adjustments to reconcile net loss to net cash
    provided (used) by operating activities:
      Depreciation, depletion and amortization                  8,595        9,990
      Gain on sale of assets                                 (148,144)    (133,500)
      Losses on retirements of property and equipment
        included in lease operating expenses                      ---          ---
     Changes in assets and liabilities:
       Increase in accounts receivable                        (12,739)     (19,283)
       Decrease (increase) in inventory		                1,787        5,185
       Increase in prepaid expenses                            (3,805)      (4,971)
       Decrease in accounts payable and accrued expenses      (16,116)     (26,807)
       Decrease in accrued director fees                       12,400          ---
       Increase in payable to officer, net                     42,982       42,719
       Increase (decrease) in payable to interest owners       13,236      (35,290)
                                                             --------     --------
         Net cash (used) provided by operating activities     (23,966)    (117,787)

Investing activities:
  Capital expenditures                                         (4,312)     (18,050)
  Proceeds from sale of property and equipment                155,500      133,500
                                                             --------     --------
         Net cash used by investing activities                151,188      115,450

Financing activities:
  Proceeds from gross borrowings                                  ---       25,000
  Payments on gross borrowings                                (84,500)     (11,937)
                                                             --------     --------
         Net cash provided (used) by financing activities     (84,500)      13,063


Increase (decrease) in cash and cash equivalents               42,722       10,726
Cash and cash equivalents at beginning of period               25,074       47,405
                                                             --------     --------

Cash and cash equivalents at end of period                  $  67,796       58,131
                                                             ========     ========

</TABLE>



<PAGE>
<TABLE>

                                PETROL INDUSTRIES, INC.

               Consolidated Statements of Changes in Stockholders' Deficit

                       Nine months ended September 30, 2004 and 2003
                                       (unaudited)



                                                         2004            2003
                                                         ----            ----

                                                 <c>               <c>
Stockholder's deficit at January 1                  $ (1,518,817)     (1,499,084)

   Prior period adjustment                                12,400             ---

   Net income/(loss) for the nine-month period	          81,412          44,170
                                                      ----------      ----------

Stockholder's deficit at September 30               $ (1,425,005)     (1,454,914)
                                                      ==========      ==========

</TABLE>



<PAGE>


                                 PETROL INDUSTRIES, INC.
                      Notes to Consolidated Financial Statements
                                       (unaudited)

1.  The accompanying unaudited consolidated financial statements have been
    prepared by the Registrant in accordance with generally accepted
    accounting principles, pursuant to the rules and regulations of the
    Securities and Exchange Commission.  Certain information and footnote
    disclosures normally included in financial statements have been condensed
    or omitted pursuant to such rules and regulations, although management
    believes that the disclosures are adequate to make the information
    presented not misleading.  In the opinion of management, the accompanying
    financial statements contain all adjustments necessary for a fair
    statement of the results for the interim periods presented.  It is
    suggested that these consolidated financial statements be used in
    conjunction with the consolidated financial statements and the notes
    thereto included in the Registrant's 2003 Annual Report on Form 10-KSB.

2.  The consolidated financial statements included herein are consolidated
    with the accounts of Petrolind Drilling Funds, Inc. and Realco, Inc.,
    both wholly owned subsidiaries of the Registrant, neither of which was
    active during 2003 or 2002.

3.  Net income per share of common stock is computed on the weighted average
    number of shares outstanding during the nine months ended September 30.
    Totaling the number of shares outstanding at the end of each month and
    dividing that total by the number of months determined the weighted
    average number of shares outstanding.

	                               Total Number of
                                    Shares Outstanding
                                    ------------------
                                    2004          2003
                                    ----          ----
	        January 31	   1,597,196    1,597,196
	        February 28	   1,597,196    1,597,196
	        March 31           1,597,196    1,597,196
	        April 30           1,597,196    1,597,196
	        May 31             1,597,196    1,597,196
	        June 30	           1,597,196    1,597,196
	        July 31            1,597,196    1,597,196
                August 31          1,597,196    1,597,196
	        September 30	   1,597,196    1,597,196

4.  The expected tax benefit resulting from operations for the first nine
    months of 2004 has not been recorded because it is not expected to be
    realizable.  Additionally, there were no significant changes in the
    temporary differences that give rise to significant portions of the
    deferred tax assets and deferred tax liabilities at September 30, 2004.


<PAGE>


Item 2.  MANAGEMENT'S DISCUSSION AND ANALYISIS OF FINANCIAL CONDITION AND
         RESULTS OF OPERATIONS.

     Oil and gas sales revenues increased approximately 13.4% in the third
quarter of 2004, compared to the third quarter of 2003, the result being an
approximate 46.4% increase in average oil prices.  The Company sustained a
net loss for the period of $26,491, or $(0.02) per share, compared to a net
income of $15,750 in the 2003 period, or $0.01 per share.

     The Company sustained an operating loss of $11,120 in the third quarter
of 2004, compared to an operating loss of $39,236 in the prior year's third
quarter.  For the nine-month period ending September 30, 2004, the Company
realized a net income of $81,412 as compared to a net loss of $44,170 in the
prior year's period.

     Profitability is contingent essentially upon two factors:  increasing
production from the Company's mineral leases and increases in world oil
prices. Management continues to explore possible approaches to increasing oil
production, including technological developments or pursuing drilling
operations.

     Oil prices averaged $41.55 per barrel during the third quarter of 2004,
compared to an average of $28.38 per barrel in the 2003 period.  For the nine-
month period, oil prices averaged $36.89 per barrel in 2004 compared to
$26.80 in 2003.

     The Company had cash and cash equivalents at September 30, 2004, of
$67,796, compared to $25,074 at the end of the 2003 fiscal year.  Management
estimates that it owes $323,284 from the settlement of the Horne Lease dispute
with Oryx to owners of other interests in the Horne Lease.

     In August 2004, Joseph M. Rodano, President and Treasurer of Petrol
Industries, Inc., as well as a member of its Board of Directors, purchased a
total of 23,400 Shares Common Stock, $.10 par value per share, of Petrol
Industries, Inc.  Each purchase was made in an open-market transaction, and
all of the shares purchased by Mr. Rodano were purchased with his personal
funds.  As of September 30, 2004, Mr. Rodano owns an aggregate of 599,725
Shares, comprising approximately 37.5% of the outstanding shares.


                      PART II - OTHER INFORMATION

Item 1.  Legal Proceedings.

         None.

Item 2.  Changes in Securities.

         None.

Item 3.  Defaults Upon Senior Securities.

         None.

Item 4.  Submission of Matters to a Vote of Security Holders.

         None.

<PAGE>

                                     SIGNATURE
                                     ---------

          Pursuant to the requirements of the Securities and Exchange Act of
1934, the Registrant has duly caused this report to be signed on its behalf
by the undersigned thereunto duly authorized.



Date:  November 15, 2004

				           PETROL INDUSTRIES, INC.


                                               S/Joseph M. Rodano
                                           By:______________________________
                                              Joseph M. Rodano
                                              President and Treasurer



<PAGE>


                                        CERTIFICATION
                                        -------------

I, Joseph M. Rodano, certify that:

1.  I have reviewed this quarterly report on Form 10-QSB of Petrol Industries,
    Inc.;

2.  Based on my knowledge, this quarterly report does not contain any untrue
    statement of a material fact or omit to state a material fact necessary to
    make the statements made, in light of the circumstances under which such
    statements were made, not misleading with respect to the period covered by
    this quarterly report;

3.  Based on my knowledge, the financial statements, and other financial
    information included in this quarterly report, fairly present in all
    material respects the financial condition, results of operations and cash
    flows of the registrant as of, and for the periods presented in this
    quarterly report;

4.  The registrant's other certifying officers and I are responsible for
    establishing and maintaining disclosure controls and procedures (as
    defined in Exchange Act Rules 13a-14 and 15d-14) for the registrant and
    have:

    a)  designed such disclosure controls and procedures to ensure that
        material information relating to the registrant, including its
        consolidated subsidiaries, is made known to us by others within
        those entities, particularly during the period in which this quarterly
        report is being prepared;
    b)	evaluated the effectiveness of the registrant's disclosure controls
        and procedures as of a date within 90 days prior to the filing date of
        this quarterly report (the "Evaluation Date"); and
    c)  presented in this quarterly report our conclusions about the
        effectiveness of the disclosure controls and procedures based on our
        Evaluation Date;

5.  The registrant's other certifying officers and I have disclosed, based on
    our most recent evaluation, to the registrant's auditors and the audit
    committee of registrant's board of directors (or persons performing the
    equivalent functions):

    a)  all significant deficiencies in the design or operation of internal
        controls which could adversely affect the registrant's ability to
        record, process, summarize and report financial data and have
        identified for the registrant's auditors any material weaknesses in
        internal controls; and
    b)  any fraud, whether or not material, that involves management or other
        employees who have a significant role in the registrant's internal
        controls; and

6.  The registrant's other certifying officers and I have indicated in this
    quarterly report whether or not there were significant changes in internal
    controls or in other factors that could significantly affect internal
    controls subsequent to the date of our most recent evaluation, including
    any corrective actions with regard to significant deficiencies and material
    weaknesses.

Date:     November 15, 2004

     S/Joseph M. Rodano
____________________________
Joseph M. Rodano
President & Treasurer


<PAGE>


                                         CERTIFICATION
                                         -------------

I, Arlys C. Milan, certify that:

1.  I have reviewed this quarterly report on Form 10-QSB of Petrol Industries,
    Inc.;

2.  Based on my knowledge, this quarterly report does not contain any untrue
    statement of a material fact or omit to state a material fact necessary to
    make the statements made, in light of the circumstances under which such
    statements were made, not misleading with respect to the period covered by
    this quarterly report;

3.  Based on my knowledge, the financial statements, and other financial
    information included in this quarterly report, fairly present in all
    material respects the financial condition, results of operations and cash
    flows of the registrant as of, and for the periods presented in this
    quarterly report;

4.  The registrant's other certifying officers and I are responsible for
    establishing and maintaining disclosure controls and procedures (as
    defined in Exchange Act Rules 13a-14 and 15d-14) for the registrant and
    have:

    a)  designed such disclosure controls and procedures to ensure that
        material information relating to the registrant, including its
        consolidated subsidiaries, is made known to us by others within those
        entities, particularly during the period in which this quarterly
        report is being prepared;
    b)  evaluated the effectiveness of the registrant's disclosure controls
        and procedures as of a date within 90 days prior to the filing date of
        this quarterly report (the "Evaluation Date"); and
    c)  presented in this quarterly report our conclusions about the
        effectiveness of the disclosure controls and procedures based on our
        Evaluation Date;

5.  The registrant's other certifying officers and I have disclosed, based on
    our most recent evaluation, to the registrant's auditors and the audit
    committee of registrant's board of directors (or persons performing the
    equivalent functions):

    a)  all significant deficiencies in the design or operation of internal
        controls which could adversely affect the registrant's ability to
        record, process, summarize and report financial data and have
        identified for the registrant's auditors any material weaknesses in
        internal controls; and
    b)  any fraud, whether or not material, that involves management or other
        employees who have a significant role in the registrant's internal
        controls; and

6.  The registrant's other certifying officers and I have indicated in this
    quarterly report whether or not there were significant changes in internal
    controls or in other factors that could significantly affect internal
    controls subsequent to the date of our most recent evaluation, including
    any corrective actions with regard to significant deficiencies and
    material weaknesses.

Date:     November 15, 2004

      S/Arlys C. Milan
________________________________
Arlys C. Milan
Vice President & Secretary



<PAGE>


                               CERTIFICATION PURSUANT TO
                                18 U.S.C. SECTION 1350,
                                AS ADOPTED PURSUANT TO
                     SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002


     In connection with the Quarterly Report of Petrol Industries, Inc. (the
"Company") on Form 10-QSB for the quarter ended September 30, 2004, as filed
with the Securities and Exchange Commission on the date hereof (the "Report"),
the undersigned certifies, pursuant to 18 U.S.C. Section 1350, as adopted
pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that:

(1)  The Report fully complies with the requirements of Section 13(a) or 15(d)
     of the Securities Exchange Act of 1934; and

(2)  The information contained in the Report fairly presents, in all material
     respects, the financial condition and results of operations of the Company.



Dated:  November 15, 2004                          s/Joseph M. Rodano
                                                   __________________________
                                                   Joseph M. Rodano
                                                   President & Treasurer


A signed original of this written statement required by Section 906 of the
Sarbanes-Oxley Act has been provided to Petrol Industries, Inc. and will be
retained by Petrol Industries, Inc. and furnished to the Securities and
Exchange Commission or its staff upon request.


































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