KUALA LUMPUR, Nov 26 (Bernama) — PETRONAS recorded lower earnings amid challenging market conditions and sustained pressure on commodity prices and margins. Despite the subdued earnings, the results reflect the resilience and ability of the Group’s businesses driven by its continued focus on commercial and operational excellence.
For the cumulative period ended 30 September 2019, PETRONAS Group recorded a 3 per cent drop in revenue at RM176.2 billion, primarily due to lower average realised prices for major products. This was partially offset by higher sales volume predominantly for LNG and petroleum products as well as the effect of the weakening Ringgit against the US Dollar exchange rate.