The EBITDA recorded a fall of 9% to RM64.1 billion, down from RM70.5 billion a year before.
SEATTLE (Scrap Monster): Malaysia’s state-owned oil company Petroliam Nasional Bhd (Petronas) posted lower profits during the first half-yearly period in 2024, despite rise in crude. The dip in profits is mainly on account of higher taxes and a shrinkage in its assets base.
The oil major reported Profit After Tax (PAT) of RM32.4 billion in H1 2024, significantly down by 19% when compared with PAT of RM40.2 billion in the corresponding six-month period in 2023. The EBITDA recorded a fall of 9% to RM64.1 billion, down from RM70.5 billion a year before.
ALSO READ:
Petronas Inked MoU with Sinopec to Boost Collaboration
Egypt Signed Key Agreements to Boost Oil and Gas Output
In the meantime, Petronas recorded revenue of RM171.7 billion for the first half of 2024, slightly higher from RM169.0 billion in the corresponding period last year.
The capital investments during the financial period contributed to rise in total assets to RM798.6 billion as at 30 June 2024, against RM773.3 billion as at 31 December 2023, said the company news release.
Tan Sri Tengku Muhammad Taufik, President and Group CEO, Petronas noted that the company registered commendable performance in the first half of 2024, despite ongoing market volatility and global economic crisis. The company looks forward to strengthen its collaboration with forward-looking partners, both at home and abroad, he added.
United States Crude Oil Prices | |||
---|---|---|---|
COMMODITY | PRICE | CHANGE | |
Alabama Heavy Asphaltic Sour | 51.79 | +1.41 | |
Alabama Light Sour | 57.54 | +1.56 | |
Alabama Light Sour Womack Hill Type | 55.28 | +5.30 | |
Alabama Light Sweet | 62.54 | +1.56 | |
Alabama/ Florida Panhandle | 62.22 | +1.70 |
Plastic Keychain Magnet
Keychain Magnets as gift items to promote your Scrap Metal Recycling business!. Letters and numbers can be imprinted. Available Colors: Red, Blue and Green
$2.59
Scrap Metal Test Magnet 10 lb N52 Neodymium Rare Earth
Retrieval and Metal Testing Magnet. Contains The Most Powerful Grade of Neodymium Rare Earth Magnet (N52). Case Material: Aluminum
$9.99