Business
Malaysia’s Petronas reports Q3 profit, flags volatility in oil and gas prices
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KUALA LUMPUR : Malaysia’s state energy firm Petroliam Nasional Berhad, or Petronas, on Wednesday reported a profit in the third quarter, and said volatility in oil and prices is expected to remain high due to economic uncertainty.
The company reported a profit after tax of 23.9 billion ringgit ($5.14 billion) for the July-September period, compared with a profit of 30.8 billion ringgit in the same quarter a year ago.
Revenue in the quarter fell to 82.9 billion ringgit primarily due to lower average realised prices, compared with 98.9 billion ringgit last year, Petronas said in a statement.
($1 = 4.6495 ringgit)
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