24 · Dec · 2016
PETRONAS Remains Resilient
PETRONAS REMAINS RESILIENT, BRACES FOR TOUGHER TIMES AHEAD
PETROLIAM NASIONAL BERHAD (PETRONAS) ANNOUNCES SECOND QUARTER FINANCIAL RESULTS ENDED 30 JUNE 2015
KUALA LUMPUR – PETRONAS reported a commendable performance over the last quarter despite a difficult period, due to better operational efficiencies despite lower production entitlement and LNG volumes.
Speaking at the national oil company’s second Quarter Financial Result Media Briefing, PETRONAS President and Group CEO Datuk Wan Zulkiflee Wan Ariffin said that its past prudent cash management practices had provided sufficient financial reserves to weather the effects of the low oil price. However, PETRONAS is bracing itself for more challenges ahead as low oil prices persist.
“Overall, it has been an unrelenting difficult period, but with tenacity and discipline in sticking to our business strategies, PETRONAS has persevered and continues to show resilience. The next phases however, will really test the organisation’s stamina and endurance,” said Datuk Wan Zulkiflee.
PETRONAS made RM11.1 billion in profits after tax, on the back of RM61 billion revenue in the second quarter of 2015. This is lower by 3% and 7% respectively, compared to the previous quarter mainly due to lower LNG volumes and prices.
KUALA LUMPUR – PETRONAS reported a commendable performance over the last quarter despite a difficult period, due to better operational efficiencies despite lower production entitlement and LNG volumes.
Speaking at the national oil company’s second Quarter Financial Result Media Briefing, PETRONAS President and Group CEO Datuk Wan Zulkiflee Wan Ariffin said that its past prudent cash management practices had provided sufficient financial reserves to weather the effects of the low oil price. However, PETRONAS is bracing itself for more challenges ahead as low oil prices persist.
“Overall, it has been an unrelenting difficult period, but with tenacity and discipline in sticking to our business strategies, PETRONAS has persevered and continues to show resilience. The next phases however, will really test the organisation’s stamina and endurance,” said Datuk Wan Zulkiflee.
PETRONAS made RM11.1 billion in profits after tax, on the back of RM61 billion revenue in the second quarter of 2015. This is lower by 3% and 7% respectively, compared to the previous quarter mainly due to lower LNG volumes and prices.
