Petronas profit surges on higher prices

Malaysia’s national oil company Petronas saw an increase in profit during the second quarter 2017 helped by higher prices across all products and cost cuts. 

Petronas’ profit after tax for the quarter was RM 7 billion compared to RM 1.7 billion in 2Q of 2016, a significant improvement mainly due to lower net impairment on assets and well costs, coupled with higher average realized prices recorded across all products.

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