Excerp from the Star: "Petroliam Nasional Bhd (PETRONAS) posted a 29.6% jump in net profit of RM55.6 billion for the nine months ended Dec 31, 2011 compared to the same period a year ago on higher margins.
Revenue for the period under review rose 26.9% on higher realised prices and improved liquefied natural gas sales volume.
PETRONAS president and chief executive officer Datuk Shamsul Azhar Abbas said at a media briefing that crude oil prices would be under pressure this year despite the elevated prices in recent weeks.
“There's a lot of uncertainty in the business environment and we don't know for how long the fear factor which is fuelling the rise of prices will last but we reckon not too long,” he said"
Revenue for the period under review rose 26.9% on higher realised prices and improved liquefied natural gas sales volume.
PETRONAS president and chief executive officer Datuk Shamsul Azhar Abbas said at a media briefing that crude oil prices would be under pressure this year despite the elevated prices in recent weeks.
“There's a lot of uncertainty in the business environment and we don't know for how long the fear factor which is fuelling the rise of prices will last but we reckon not too long,” he said"
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