KUALA LUMPUR, May 31 (Bernama) — PETRONAS today announced a robust 2019 first quarter financial performance, as it pursued its three-pronged strategy to maximise cash generation, extend its value chain and step out into new ventures. The results were further supported by the Group’s continuous pursuit of operational excellence and fiscal discipline.
The Group recorded a revenue of RM62.0 billion for the first quarter of 2019, an increase of 7 per cent from RM57.9 billion in the corresponding quarter last year. The revenue was driven by higher sales volume for petroleum products and LNG, coupled with the effect of the weakening Ringgit against the US Dollar exchange rate. These were partially offset by lower average realised prices, mainly for petroleum products, crude oil and condensates.