KUALA LUMPUR: Petron Malaysia Refining & Marketing Bhd
expects continued volatility in oil and currency markets, as shifting US trade and tariff policies could impact global demand and economic growth.
“Furthermore, the global geopolitical landscape and the US intention to boost oil production could also trigger volatility in the oil market,” it said in a filing with Bursa Malaysia.
Petron remains committed to sustainable growth despite market uncertainties and oil price volatility, focusing on expanding its retail network and improving operational efficiencies in refinery and terminal operations.
“With its prudent resource and risk management in place, the company continues its focus on strategic initiatives to deliver long-term value to its stakeholders while actively working to reduce carbon footprint,” it added.
In the fourth quarter ended Dec 31, 2024 (4Q24), Petron posted a net loss of RM69.5mil, or a loss per share of 25.76 sen, compared to a net profit of RM41.4mil, or earnings per share of 15.34 sen, in the same quarter last year.
Revenue for the quarter fell 30.5% to RM3.1bil from RM4.5bil.
For the full year, its net profit tumbled to RM18.04mil versus RM272.1mil last year while revenue fell 8% to RM15.8bil from RM17.2bil.
Petron has declared a final single-tier dividend of 10.0 sen per share, subject to shareholder approval at its forthcoming annual general meeting.
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