Malaysia: Petronas Profits Fall 50%
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Friday, 11 December 2009 |
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Petroliam Nasional has recorded first-half profit drop of 48 per cent
due to the global economic slowdown combined with falling energy demand
and reduced fuel prices.
Net income fell to RM20.29 billion (US$6 billion) in the six months
ended Sept 30 from RM38.65 billion a year earlier, Petronas, as the
company is known, said in a statement on its Web site. Sales declined
38 per cent to RM98.18 billion. “The decrease in revenue was mainly due
to the overall decrease in product prices and lower sales volume,”
Petronas said in the statement. International operations remain the
company’s biggest revenue generator, contributing 49 per cent to the
company’s total sales, it said.
Domestic sales dropped 33 per cent to RM21 billion. Exports fell 48 per
cent to RM29.4 billion, according to the company. Petronas’s total oil
and gas production was equivalent to 1.73 million barrels of oil a day.
The company didn’t provide comparative figures for a year earlier.
Domestic output was at 1.08 million barrels of oil equivalent a day and
international operations produced 642,800 barrels of oil equivalent a
day.
PetrolWorld 091209
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