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Petronas 2Q profit after tax up 312% on higher average realised prices

Mimi Sabreena 3:07:00 PM Informasi

KUALA LUMPUR (Aug 25): Higher average realised prices, lower net impairment on assets and well costs raised Petroliam Nasional Bhd (Petronas)'s profit after tax by 311.7% to RM7 billion in the second quarter ended June 30, 2017 (2QFY17) from RM1.7 billion last year.

In a statement today, the national oil firm said this was partially offset by higher net foreign exchange losses, amortisation of oil and gas properties and non-final investment decision costs for Pacific North West liquefied natural gas in Canada.

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