Petroliam Nasional Bhd (Petronas) reported today a 12.4% fall in third-quarter profit on weakness in oil prices, the US dollar and liquefied natural gas (LNG) sales.
Net profit totalled RM15.07 billion in July-September from RM17.2 billion a year earlier, Petronas said in a statement. Revenue declined marginally to RM80.4 billion.
Chief Executive Shamsul Azhar Abbas told reporters after the earnings release that payments to the government in the form of dividends, tax and royalties could be 37% lower in 2015 if oil stays around US$75 a barrel.
The CEO also said Petronas' decision to invest in the Pacific Northwest liquefied natural gas project in Canada is 75% complete, and that the company is now in the process of negotiating with bidders of related contracts. – Reuters
Net profit totalled RM15.07 billion in July-September from RM17.2 billion a year earlier, Petronas said in a statement. Revenue declined marginally to RM80.4 billion.
Chief Executive Shamsul Azhar Abbas told reporters after the earnings release that payments to the government in the form of dividends, tax and royalties could be 37% lower in 2015 if oil stays around US$75 a barrel.
The CEO also said Petronas' decision to invest in the Pacific Northwest liquefied natural gas project in Canada is 75% complete, and that the company is now in the process of negotiating with bidders of related contracts. – Reuters