Petronas Q3 net profit 12% down due to lower oil prices


PETROLIAM Nasional Bhd (Petronas) president and chief executive Tan Sri Shamsul Azhar Abbas’ presage has materialised as the oil major’s top and bottom line took a beating for its third quarter ended Sept 30 in tandem with crude oil prices that fell some 15% for the three months.

Revenue for the quarter fell 1% to RM80.4bil compared to a year earlier while net profit declined 12% to RM15.1bil.

Subscribe or renew your subscriptions to win prizes worth up to RM68,000!

Monthly Plan

RM13.90/month

Annual Plan

RM12.33/month

Billed as RM148.00/year

1 month

Free Trial

For new subscribers only


Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!
   

Next In Business News

Radium’s net profit up to RM4.8mil in 3Q
7-Eleven’s quarterly revenue climbs
SimeProp seeks quality assets for recurring income
Lower interest costs buoy TSH nine-month showing
Zetrix a profit driver for MyEG Services
NFO segment to sustain Sports Toto’s earnings
Thong Guan spreading its wings to Europe, America
Hap Seng bottom line in four-fold rise
Mixed views on PetChem on higher interest expense
No new impetus seen for JETP under Trump

Others Also Read