Arab Today, arab today malaysias petronas profit plunges
Last Updated : GMT 18:20:49
Arab Today, arab today
Arab Today, arab today

Malaysia's Petronas profit plunges

Arab Today, arab today

Arab Today, arab today Malaysia's Petronas profit plunges

Malaysian state energy firm Petronas
Kuala Lumpur - AFP

Malaysian state energy firm Petronas said Wednesday its third-quarter earnings plummeted 91 percent as weak global oil prices continued to weigh on the company.

Net (LSE: 0LN0.L - news) profit at Malaysia's only Fortune 500 company for the July-September quarter fell to 1.4 billion ringgit ($320 million).

"Petronas anticipates continued challenges due to the bearish market sentiments, and will continue to focus on internal measures of control to steer the company through the downturn," it said in a statement.

Earnings for the company have taken a pounding over the past year as global oil prices have tumbled.

It (Other OTC: ITGL - news) posted a $2.02 billion loss in the fourth quarter of 2014 -- its first loss since launching quarterly earnings reports five years before -- and net profit was sharply lower in the first two quarters of this year.

Petronas is the single largest source of Malaysian government revenue and national export earnings, and its declining fortunes will add to concerns over the economic prospects of a country heavily dependent on oil exports.

Economic growth is slowing and the ringgit currency is one of the worst performing in Asia this year due in part to concerns over the economic outlook.

 

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today malaysias petronas profit plunges Arab Today, arab today malaysias petronas profit plunges

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today malaysias petronas profit plunges Arab Today, arab today malaysias petronas profit plunges

 



Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today Zainab Fadel Oglu designs “Shakerin” mosque

GMT 12:13 2017 Thursday ,11 May

Zainab Fadel Oglu designs “Shakerin” mosque
Arab Today, arab today Seeks to move past rift with Israel

GMT 08:00 2017 Monday ,08 May

Seeks to move past rift with Israel
View News in Arabic - Business: اقتصاد دولي
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Mozambique's gas boom dream under threat

GMT 16:29 2017 Monday ,08 May

Mozambique's gas boom dream under threat
Arab Today, arab today Prepares to give stargazers an eyeful

GMT 13:38 2017 Monday ,06 March

Prepares to give stargazers an eyeful
Arab Today, arab today Jaguar displays XF Sportbrake line

GMT 14:36 2017 Monday ,08 May

Jaguar displays XF Sportbrake line
Arab Today, arab today BMW sees forecasts in reach

GMT 09:04 2017 Thursday ,04 May

BMW sees forecasts in reach
Arab Today, arab today Climate science: Bad news gets worse

GMT 08:48 2017 Saturday ,06 May

Climate science: Bad news gets worse
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday