When will it spill down to us bottom feeders?
Dateline 2018-03-02, Reuters:
Malaysian state energy firm Petroliam Nasional Berhad, or Petronas, pledged on Friday to ramp up its growth and spending plans this year following a sharp rise in profits, even as it cautioned about the sustainability of higher oil prices.
Petronas, like other oil majors, has taken a hit from lower oil prices, but sharp cost cuts – along with some recent stability in oil prices – helped the company boost profits and margins despite lower production.
Net profit for the fourth quarter ended December rose to 18.2 billion ringgit ($4.65 billion) from 11.3 billion ringgit in the same quarter last year, while revenue rose 13.8 percent to 61.8 billion ringgit.