AS the earnings reporting season begins, the largest oil and gas companies in the United States and Europe are looking at profit dropping by between 19% and up to 57% in the fourth quarter of last year.
Nearer home, the situation will not be any different for Petronas that will announce its fourth-quarter results in February. In tandem with the significant fall in oil prices during the last three months, Petronas’ results will be significantly lower than the RM15.1bil in pre-tax profit it chalked up in the third quarter of 2014.
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