Malaysia’s Petronas Swings to First Quarterly Loss


How about stopping those 10 course dinners for foreign workers? And the 10 figure paychecks for the same, while you are at it, as part of asking contractors to reduce pricing by 30%. Redistribute the wealth to, I don’t know, using local workers for the TGAST construction?

Dateline 2015-02-27, TWSJ:

Malaysia’s national oil-and-gas company, Petroliam Nasional Bhd., or Petronas, on Friday said it would cut its investment plans by as much as 30 billion ringgit ($8.3 billion) in the next two years as the company reported its first-ever quarterly loss.

For the three months ended Dec. 31, the company reported a net loss of 9.87 billion ringgit ($2.7 billion) compared with a profit of 9.58 billion ringgit a year ago. After including profit attributable to noncontrolling interests, the company reported a net loss of 7.27 billion ringgit for the quarter, compared with a profit of 12.76 billion ringgit a year ago.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: