Petronas Q2 Profit Rises 8%

Published

© 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

Solstad Scoops $25M in New CSV Contracts in Brazil and North Sea

Solstad Scoops $25M in New CSV

Viridien Set for Seismic Reimaging of Block 22 Offshore Angola

Viridien Set for Seismic Reima

McDermott Nets Petronas Contract for Gas Project Offshore Brunei

McDermott Nets Petronas Contra

Two Shell’s Gulf of Mexico Offshore Platforms Temporarily Shut Down

Two Shell’s Gulf of Mexico Off

Subscribe for OE Digital E‑News

 
Offshore Engineer Magazine