malaysias petronas q1 profit down on weak oil prices
Last Updated : GMT 06:49:16
Arab Today, arab today
Arab Today, arab today
Last Updated : GMT 06:49:16
Arab Today, arab today

Malaysia's Petronas Q1 profit down on weak oil prices

Arab Today, arab today

Arab Today, arab today Malaysia's Petronas Q1 profit down on weak oil prices

Malaysian state energy firm Petronas
Kuala Lumpur - AFP

Malaysian state energy firm Petronas said Friday it made a net profit of 11.4 billion ringgit ($3.18 billion) in the first quarter -- more than 7 billion ringgit lower than the same period last year -- due to the slump in global oil prices.

In the first quarter of 2014, Petronas, the single largest revenue contributor to the Malaysian government, posted an 18.8 billion ringgit profit.

Malaysia's only Fortune 500 company said its revenue fell from 84 billion ringgit in the first quarter of 2014 to 66.2 billion ringgit in the first quarter of 2015.

In a statement, the company said the lower profit was due to lower revenue following the fall in the benchmark crude oil price.

However, it added that the downward trend was "partially offset by higher processed gas trading sales volume and higher LNG sales volume".

Petronas' performance in the first quarter of 2015 was an improvement on the final quarter of 2014 when it posted a net loss of 7.3 billion ringgit.

It was Petronas' first ever quarterly loss since it launched quarterly reports five years ago.

Petronas said it expected its 2015 performance to be affected by the "sustained low oil price environment".

 

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

malaysias petronas q1 profit down on weak oil prices malaysias petronas q1 profit down on weak oil prices

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

malaysias petronas q1 profit down on weak oil prices malaysias petronas q1 profit down on weak oil prices

 



GMT 04:29 2017 Saturday ,18 November

China to build $1.6 bn aluminium plant in Tajikistan

GMT 10:45 2017 Wednesday ,12 April

Indonesian volcano in fresh eruptions

GMT 09:20 2017 Wednesday ,01 November

Axed Catalan leader is summoned to Spain court

GMT 14:14 2017 Sunday ,08 October

Man held after crash near London museum, 11 injured

GMT 19:14 2017 Wednesday ,01 February

Shaza Hassoun reveals her last song "Ykhbal"

GMT 19:27 2017 Monday ,30 October

Govt committed to economic reform

GMT 07:15 2017 Thursday ,23 February

Pune wicket will spin from ball one
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday