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Malaysia's Petronas reports Q3 profit, flags volatility in oil and gas prices

Published Wed, Nov 29, 2023 · 07:21 PM
    • The company reported a profit after tax of RM23.9 billion (S$6.84 billion) for the July-September period, compared with a profit of RM30.8 billion in the same quarter a year ago.
    • The company reported a profit after tax of RM23.9 billion (S$6.84 billion) for the July-September period, compared with a profit of RM30.8 billion in the same quarter a year ago. PHOTO: REUTERS

    MALAYSIA’S state energy firm Petroliam Nasional, or Petronas, on Wednesday (Nov 29) 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 RM23.9 billion (S$6.84 billion) for the July-September period, compared with a profit of RM30.8 billion in the same quarter a year ago.

    Revenue in the quarter fell to RM82.9 billion primarily due to lower average realised prices, compared with RM98.9 billion last year, Petronas said in a statement. REUTERS

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