In the third quarter of 2021, Malaysia’s Petroliam Nasional Bhd. (Petronas) posted a profit on the back of higher energy prices and demand.
Profit was at MYR16.3 billion (USD3.87 billion), in contrast with the MYR3.4 billion (USD807.2 million) loss in the same period a year ago.
Revenue soared by 50% to MYR61.8 billion (USD14.67 billion), mostly due to higher average realized prices.
Moving forward, Petronas is optimistic that the current trajectory of the oil and gas industry is expected to continue, given the modest recovery in demand underpinned by improvements in economic activities globally.
Tags: AlwaysFree,Asia Pacific,Crude Oil,English,Gas,Malaysia,SEA
Published on December 1, 2021 5:56 PM (GMT+8)Last Updated on December 1, 2021 5:56 PM (GMT+8)
