Malaysian Petronas’ net profit declines 2.7% in Q3
The company’s revenue also fell by 2.1% to MYR3.56 billion ($844.8 million) from RM3.64 billion a year earlier due to lower product prices stemming from weak crude oil markets.
In the January-September period, Petronas’ net profit decreased by 6.4% to MYR1.95 billion ($462.7 million) from MYR2.08 billion while the company’s revenue for the same period was also down 1.7% to MYR9.91 billion ($2.35 billion) when compared to RM10.09 billion a year earlier.
The company expects global economic conditions, its production facilities’ utilisation rate and petrochemical product prices to be the main factors affecting results in the near term.
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