Petronas Q2 Profit Rises 8%

September 20, 2019

© 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

New Vessel Enters Service at Formosa 1 Wind Farm

New Vessel Enters Service at Formosa 1 Wind Farm

Seastar Wind Farm Connected to Elia's MOG

Seastar Wind Farm Connected to Elia's MOG

Qatar Petroleum in 'Largest LNG Shipbuilding Deal in History'

Qatar Petroleum in 'Largest LNG Shipbuilding Deal in History'

ONGC Moves 33 Offshore Rigs Ahead of Monsoon Season

ONGC Moves 33 Offshore Rigs Ahead of Monsoon Season

Subscribe for OE Digital E‑News

Offshore Engineer Magazine