Malaysia’s Petronas raises payout commitment to government as profit surges


Which PETRONAS petrol station are they showing in the article stock pic? It was taken in 2012.

Dateline 2017-08-25, Reuters:

Malaysia’s state-owned energy firm Petroliam Nasional Bhd [PETR.UL] on Friday raised its dividend payment commitment to the government after reporting that second-quarter profit quadrupled because of higher oil prices and improved margins.

But Petronas, as the company is known, maintained a cautious outlook, saying its overall year-end performance is expected to be “fair” as oil price volatility continues.

The energy firm’s second-quarter profit rose to 7.06 billion ringgit ($1.65 billion) from 1.68 billion ringgit in the corresponding quarter last year. Revenue rose 10 percent to 51.63 billion ringgit.

 

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