Petronas posts 36% increase in profits

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Malysian petrochemical giant Petronas posted strong numbers for the past fiscal year this week amid soaring international demand for oil and unrest in the Middle East and North Africa.  Net profits are up 36% and hit RM54.85 billion, up from RM40.29 billion the previous year.  The last quarter of the year grew 35.85% and posted almost RM3 billion more than the previous year.

Exploration and production are mainly driving Petronas’ impressive growth, along with the listing of newer ventures Petronas Chemicals Group and Malaysia Marine and Heavy Engineering Holdings by the company.  The IPOs last fall raised a one-time amount of RM9.8 billion.  Full year revenue for the corporation grew from RM210.8 billion last year to RM241.23 this year.

 

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Reading Time: 1 minute

Malysian petrochemical giant Petronas posted strong numbers for the past fiscal year this week amid soaring international demand for oil and unrest in the Middle East and North Africa.  Net profits are up 36% and hit RM54.85 billion, up from RM40.29 billion the previous year.  The last quarter of the year grew 35.85% and posted almost RM3 billion more than the previous year.

Reading Time: 1 minute

Malysian petrochemical giant Petronas posted strong numbers for the past fiscal year this week amid soaring international demand for oil and unrest in the Middle East and North Africa.  Net profits are up 36% and hit RM54.85 billion, up from RM40.29 billion the previous year.  The last quarter of the year grew 35.85% and posted almost RM3 billion more than the previous year.

Exploration and production are mainly driving Petronas’ impressive growth, along with the listing of newer ventures Petronas Chemicals Group and Malaysia Marine and Heavy Engineering Holdings by the company.  The IPOs last fall raised a one-time amount of RM9.8 billion.  Full year revenue for the corporation grew from RM210.8 billion last year to RM241.23 this year.

 

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