From Bernama – Oil Price Drop Will Not Badly Affect Malaysia Earnings


Dateline 2009-03-18 (story link here):

KUALA LUMPUR, March 18 (Bernama) — PETRONAS recorded revenue of RM223.1 billion and a pre-tax profit of RM95.5 billion for the financial year ended March 31, 2008 during which the average world oil price was US$82 a barrel, Deputy Prime Minister and also Finance Minister Datuk Seri Najib Tun Razak said today.

However, taking into view that Petronas’ current financial year will end only on March 31, 2009, the real effects of the drop in world oil price on Petronas’ earnings cannot be ascertained as yet, he said.

Najib said this in his written reply to Teresa Kok (DAP-Seputeh) who wanted to know the estimated reduction in PETRONAS earnings following the oil price drop in 2007 and 2008 and the consequent amount of drop in the government’s earnings following the world oil price drop.

Hmmm, there are so many ways the topic can be pessimistic. ‘Oil Price Will Badly Affect 2010 Earnings’, ‘New PM First Term Ends with Country in Debt’.

I wonder how this will be written into the history books when they review the transition of Malaysia’s leadership? And isn’t there a transition of PETRONAS leadership in the works as well?

This entry was posted on Sunday, March 29th, 2009 at 9:42 pm and is filed under Malaysia, oil and gas. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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