From Rueters: Malaysia’s Petronas Q1 net profit jumps on strong oil price


Dateline 2011-08-26:

Malaysia’s state oil firm Petronas said on Friday its first quarter net profit jumped 57 percent from a year ago, bolstered by strong energy prices, although full-year profits would likely remain around 2010’s levels as crude prices cool.

Petronas announced a first quarter net profit of 19.4 billion ringgit ($6.5 billion) compared to 12.3 billion ringgit a year ago.

Chief executive Shamsul Azhar Abbas said Petronas realised a weighted average price of crude of $122.26 per barrel in the first quarter compared to $76.14 in the fourth quarter.

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