Petronas Q2 Profit Rises 8%

Friday, September 20, 2019

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)

Categories: Finance Industry News Production Asia

Related Stories

Shell Nigeria Starts Maintenance on Bonga FPSO, Trims Oil Exports

MODEC Partners with Eld Energy, Delta to Advance FPSO Decarbonization

Conrad, Empyrean Agree Settlement Framework Over Duyung PSC Interests

Current News

Akrake Completes Drilling of Sèmè Field Production Well Offshore Benin

U.S.-India Trade Pact Could Cut Russian Oil Exports 25%

US Federal Court Allows Ørsted to Resume Sunrise Wind Construction

TGS Gets Streamer 4D Contract Offshore Norway

Subscribe for OE Digital E‑News