Petronas posts 36% increase in profits

Petronas posts 36% increase in profitsMalysian 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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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...

Petronas posts 36% increase in profitsMalysian 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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Investvine has been a consistent voice in ASEAN news for more than a decade. From breaking news to exclusive interviews with key ASEAN leaders, we have brought you factual and engaging reports – the stories that matter, free of charge.

Like many news organisations, we are striving to survive in an age of reduced advertising and biased journalism. Our mission is to rise above today’s challenges and chart tomorrow’s world with clear, dependable reporting.

Support us now with a donation of your choosing. Your contribution will help us shine a light on important ASEAN stories, reach more people and lift the manifold voices of this dynamic, influential region.

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