Malaysia’s Petronas reports financial results for Q1
by ChemOrbis Editorial Team - content@chemorbis.com
According to media reports, Malaysia’s Petronas reported its financial results for Q1 of 2017. The company posted a net profit of MYR1.38 billion ($320 million), up about 50% from MYR671 million ($156 million) from a year earlier. The company’s revenue also increased by 49% to MYR4.7 billion ($1.9 billion) from Q1 of 2016. Sales volumes were also up by 16%.
The company attributed the rise in its net profit to the higher product prices and sales volumes. However, they said they were cautious about the recovery in the petrochemical markets due to the volatility in crude oil prices.
The company attributed the rise in its net profit to the higher product prices and sales volumes. However, they said they were cautious about the recovery in the petrochemical markets due to the volatility in crude oil prices.
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