Malaysia: Petronas Posts Record Revenues

Petronas registered a 21.2 percent increased in revenue to RM223.1 billion from RM184.1 billion in 2007, amidst a more complex and increasingly challenging global oil and gas industry environment.

In annual report released Tuesday of this week said its pre-tax profit increased to RM95.5 billion, up 25.2 percent from RM76.3 billion previously, while net profit increased to RM61 billion or 31.5 percent from RM46.4 billion.

Total assets surged to RM339.3 billion or 15.2 percent from RM294.6 billion last year. Shareholders fund improved to RM201 billion from RM170.9 billion, an increased of 17.6 percent.

The biggest contributor to Petronas' revenue was from its international operations which constituted 40.3 percent of the group's earnings. Export and domestic operations contributed 38.9 percent and 20.8 percent respectively.

The international operation posted RM90 billion in revenue, an increase of 33.1 percent from RM67.6 billion from the previous year, while exports stood at RM86.8 billion from RM73.4 billion, while domestic RM46.3 billion from RM43.1 percent.

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