Petronas Q2 Profit Rises 8%

© Arcady / Adobe Stock
© Arcady / Adobe Stock

Malaysia's state-owned energy firm Petroliam Nasional Bhd reported an 8% increase in second-quarter profit on Friday because of a weaker Malaysian ringgit, though that was partially offset by higher product costs.

Petronas, as the company is known, said profit after tax for April-June rose to 14.7 billion ringgit, up from 13.6 billion ringgit ($3.25 billion) in the same period a year earlier.

Revenue at the firm decreased marginally to 59.1 billion ringgit from 59.2 billion ringgit, mainly due to lower average realized prices for petroleum products and liquefied natural gas.


($1 = 4.1790 ringgit)

(Reporting by Rozanna Latiff; editing by Christian Schmollinger)

Current News

Lula's Ambitions for Petrobras Hemmed in by New Rules

Lula's Ambitions for Petrobras

Outlook ‘Surprisingly Positive’ for US Offshore Wind

Outlook ‘Surprisingly Positive

LR Helps Offshore Operators Navigate Tough Technical Hurdles

LR Helps Offshore Operators Na

Expro Wraps Up Five-Well Subsea Job in Australia

Expro Wraps Up Five-Well Subse

Subscribe for OE Digital E‑News

Offshore Engineer Magazine