Mixed views on Petronas capex allocation


Dateline 2017-11-25, The Star:

Petronas records another strong quarter on stronger oil prices
Analysts are mixed on whether this means increased capex spending and activities
Outlook for crude oil prices remains uncertain due to risks on demand aswell as supply
OIL giant Petroliam Nasional Bhd (Petronas) recorded yet another strong set of results in the third quarter, with profit after tax (PAT) surging 64% to RM10bil.

The stellar performance followed a more than a four-fold jump in PAT to RM7bil in the second quarter, and an over 100% surge in net profit in the first quarter ended March 31, 2017, due mainly to recovering oil prices and efficiency improvements by the company.

The company is optimistic about its prospects as well, having said that it expects to record stronger results for the full-year, compared to the previous year.

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