Petronas posts RM18.8b Q1 profit


Dateline 2014-05-15, Malaysia Chronicle:

Revenue surges to RM84 billion due to higher production, trading and sales volume

NATIONAL oil company Petroliam Nasional Bhd (Petronas) posted a net profit of RM18.8 billion for the first quarter ended March 31 2014, down by eight per cent compared with the corresponding quarter last year, despite revenue gain.

It attributed the fall in earnings to impairments for its operations in Egypt as well as higher operational costs.

Its pre-tax profit was slightly lower at RM27.2 billion from RM28.8 billion in the same quarter last year.

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