Oil prices are low?
Dateline 2012-11-29:
Petronas, which contributes nearly half of Malaysia’s budget revenues, said earnings fell 21.6 percent for the third quarter ending September 30, to 14.4 billion ringgit ($4.7 billion) due to sagging prices and lower crude output.
In September it had reported a 30 percent fall in second-quarter profit.
“Sluggish global economic growth and geopolitical uncertainties remain as key risks to the oil and gas industry,” the company said in its latest financial report.
It also reiterated an earlier warning on full-year earnings, saying “results for the year are expected to be lower than last year”.
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Wata - Malaysian Oil and Gas Engineer 