Petronas posts Q1 profit, LNG sales rise

Petronas posts Q1 profit, LNG sales riseImage courtesy of Petronas

Malaysian energy giant Petronas reported a 26 percent jump in its profit for the first three months of the year. 

The company’s profit after tax reached 13.0 billion Malaysian ringgit ($3.3 billion) on the back of higher revenue, the company said, adding that its revenue grew by 14 billion from the first quarter in 2017, reaching a total of 57.9 billion Malaysian ringgit.

Commenting on the results, the company’s president and CEO Wan Zulkiflee Wan Ariffin, said, “our encouraging performance in the first quarter of the year was attributed to our ongoing transformation efforts which focus on overall business improvement and operational excellence, coupled with a recovery in commodity prices.”

Petronas’ LNG sales grew 0.42 million tons or 6 percent up during the quarter under review in comparison to the corresponding quarter in 2017.

LNG sales volumes totaled 7.92 million tons for the first quarter of the year, compared to the 7.50 million tons reported during the first three months in 2017.

The rise was attributed to higher volume from both Petronas LNG complex and trading activities.

Share this article

Follow LNG World News

Posted on May 30, 2018 with tags .

Events>

<< Feb 2019 >>
MTWTFSS
28 29 30 31 1 2 3
4 5 6 7 8 9 10
11 12 13 14 15 16 17
18 19 20 21 22 23 24
25 26 27 28 1 2 3

Downstream 2019

Renowned as the most significant global meeting place for Downstream professionals…

read more >

2nd CWC Japan LNG & Gas Summit

The highly successful CWC Japan LNG & Gas Summit returns for a second year from 19-20 February 2019 in Tokyo, Japan…

read more >

Global LNG Forum 2019

Global LNG Forum is your opportunity to see what the future of LNG will be like…

read more >

LNG2019

LNG2019 is presented by the IGU, GTI and IIR, supported by the Shanghai Government and hosted by China LNG Association, China Gas Society, The Chinese Association of Refrigeration and China Gas Association.

read more >