MALAYSIA’S NAT OIL CORP PETRONAS POST HIGHER PRE-TAX PROFIT OF RM26.1 BLN

KUALA LUMPUR, — National hydrocarbon custodian, Petronas, recorded a higher pre-tax profit of RM26.1 billion in the first half of this year from RM10.3 billion posted in the same period last year.

Revenue rose to RM108.1 billion from RM93.7 billion previously, benefiting from the upward trend of key benchmark prices and foreign exchange rate but was partially offset by lower sales volume, President and Group Chief Executive Officer, Wan Zulkiflee Wan Ariffin said.

He said the better profit was due to higher average realised prices as well as lower net impairment on assets and well costs.

“Our earnings before interest, tax, depreciation and ammortisation increased to RM45 billion from RM34 billion from the first half of last year, due to higher average realised prices,” he told reporters after announcing the company’s first-half financial results here.

Following the stellar performance, he said Petronas would be paying an additional dividend of RM3 billion to the government on top of the RM13 billion dividend already announced previously. (US$1=RM4.35)

Source: NAM NEWS NETWORK