Petronas records lower net loss to RM3bil

Wan Zulkiflee: ‘The impairments were taken as part of being prudent despite the higher production of oil.’

KUALA LUMPUR: Petroliam Nasional Bhd’s (Petronas) net loss narrowed to RM3bil for the fourth quarter ended Dec 31, 2015 from RM7.3bil in the same quarter in 2014 due to impairments on assets and the weaker ringgit.

The impairments for the quarter amounting to RM12.9bil was lower compared with the RM19.8bil that was impaired in the corresponding period in 2014.