Petronas Q2 net profit up 53% at RM18bil

By DANIEL KHOO
danielkhoo@thestar.com.my

KUALA LUMPUR: Petroliam Nasional Bhd (Petronas) posted a 53.8% jump in net profit to RM18.3bil for its second quarter ended Sept 30, 2011 from RM11.9bil a year ago due to higher prices across its product range. However, the impact of the better prices was partially offset by the stronger ringgit against the US dollar.

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Petronas Q3 profit up on unit IPOs

KUALA LUMPUR: Petroliam Nasional Bhd (Petronas) posted a RM10.1bil jump in net profit for its third quarter to RM23.7bil owing largely to proceeds from the listing of two subsidiaries on Bursa Malaysia but indicated high annual dividends to the Government will need to be cut in the future.

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Petronas profit falls on lower sales, oil price

PETROLIAM Nasional Bhd, Malaysia’s state oil company, said first-half profit dropped 48 per cent because the global economic slowdown sapped energy demand and reduced fuel prices.

Net income fell to RM20.29 billion (US$6 billion) in the six months ended Sept 30 from RM38.65 billion a year earlier, Petronas, as the company is known, said in a statement on its Web site. Sales declined 38 per cent to RM98.18 billion.

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Petronas Plans To Maintain Capex At US$12 Billion

KUALA LUMPUR, June 25 (Bernama) -- National oil company Petroliam Nasional Bhd (Petronas) plans to maintain capital expenditure (capex) for its current financial year ending March 31, 2010, at US$12 billion, president and chief executive officer Tan Sri Hassan Marican said today.

Speaking to reporters after announcing the group's results for the financial year ended March 31, 2009, he said that 60 percent of the amount will be utilised for domestic operations and the remaining 40 percent for international operations.

For the financial year just ended, the group increased its capex to RM44.0 billion from RM37.6 billion.

During the year, the group reinvested 21.1 percent or RM21.9 billion of its profit before taxation, royalty and export duties.

The reinvestment was significantly lower compared to other major oil and gas companies.

However, Hassan said that Petronas sees 35 to 40 percent of its profit as a comfortable level for the reinvestment.

The reinvestment is necessary to ensure the group's sustainable operations and to generate future revenue and profit, he said.

On overseas expansion, Hassan said the group was looking to strengthen its presence in the countries that it was already operating.

As at March 31, 2009, Petronas is involved in various activities along the oil and gas value chain in more than 30 countries worldwide.

Asked about the speculation concerning his successor, Hassan said: "There are always speculations on my successor. I think that question needs to be addressed to the government."

He said that under his employment contract, his term will end in February next year.

-- BERNAMA

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Malaysia's Petronas posts record profit of $12.9 bil

(Kyodo) _ Malaysia's state-owned oil company Petroliam Nasional Bhd. announced Thursday another record profit for the financial year that ended March 31, on the back of higher sales and rocketing oil prices.

Better known as Petronas, Malaysia's biggest company recorded a 13.2 percent increase in net profit to $12.9 billion from a revised figure of $11.4 billion a year earlier.

The Petronas Group saw its revenue rose 14.9 percent to $51.0 billion from $44.4 billion in the previous year.

The group also controls several listed units such as shipping firm Malaysia International Shipping Corp. Bhd., retail gasoline station operator Petronas Dagangan Bhd. and gas distributor Petronas Gas Bhd.

"This year saw crude oil prices remaining high as global demand, particularly from the transportation sector, continued to increase on the back of strong economic growth especially from China and India," Petronas said in a statement.

During the financial year under review, Malaysia's benchmark Tapis crude rose 11.2 percent to $68.50 per barrel.

Against this positive backdrop, Petronas Chief Executive and President Hassan Marican told a press conference the 2006-2007 year had also been challenging as costs escalated and there was still a lack of engineering and construction capacity to meet demand coupled with a shortage of skilled workers.

"It was a tough year for the industry. However, we managed to swim the tide," he said.

The high demand and soaring oil prices of the last few years have not only brought windfalls to Petronas but also to the government, as Petronas is the single largest contributor to government coffers.

For this financial year, it paid a total of 48.3 billion ringgit ($14.0 billion) in taxes, dividends, royalties and export duties, making up 35.4 percent of the government's total revenue.

Petronas is one of the few well-run, government-linked companies, and the most international. It has presence in 33 countries and 36.7 percent of its revenue was derived from its overseas operations as domestic production declined by 2.7 percent to 1.13 million barrels of oil equivalent per day.

Malaysia's total reserves of crude oil, condensates and natural gas, as of Jan. 1, stood at 20.18 billion boe, up from 19.91 boe a year earlier.

Petronas Sumbang RM48.3 Bilion Kpd Kerajaan

KUALA LUMPUR, 28 Jun (Bernama) -- Sumbangan perbadanan minyak nasional, Petronas, kepada kerajaan dalam tahun kewangannya yang berakhir 31 Mac, 2007, meningkat kepada RM48.3 bilion daripada RM41.7 bilion sebelum ini.

Pembayaran di segi duti merupakan sumbangan tertinggi, yang berjumlah RM21.8 bilion, diikuti dividen sebanyak RM16 bilion, royalti sebanyak RM8.5 bilion dan duti eksport sebanyak RM2 bilion, kata Presiden Petronas Tan Sri Hassan Marican kepada pemberita di sidang media di sini.

Dividen itu tidak termasuk dividen interim kedua sebanyak RM6 bilion dan dividen akhir sebanyak RM10 bilion bagi tahun kewangan 2007 dan yang akan dibayar dalam tahun kewangan 2008, kata Hassan.

"Sehingga ini, kami telah memulangkan RM336 bilion kepada kerajaan," katanya.

Petronas kekal sebagai penyumbang terbesar tunggal kepada perolehan kerajaan, yang meningkat 35.4 peratus bagi tahun kewangan berakhir 31 Mac, 2007, berbanding dengan 34.4 peratus dalam tahun sebelum ini.

-- BERNAMA

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