A METERING STATION AT PETRONAG GAS BERHAD'S GAS PROCESSING PLANT IN KERTHE, TERENGGANU. PICTURE COURTESY OF PETRONAS GAS
KUALA LUMPUR: Petronas Gas Bhd recorded a lower pre-tax profit of RM497.76mil in the second quarter ended June 30, 2016, compared with RM527.10mil in the same period last year.
In a filing to Bursa Malaysia on Tuesday, the group said its revenue, however, rose to RM1.12bil from RM1.08bil previously.
“The higher revenue was driven by higher utilities revenue, in line with higher offtake by customers and upward fuel gas price revision effective Jan 1, 2016, as well as, higher performance based structure income and regasification revenue,” it said.
Given the strong and stable income streams from existing gas processing agreement, gas transportation agreements and regasification service agreement signed with Petronas, the gas infrastructure and utilities company expects its performance to remain steady in 2016 amid the challenging economic environment. - Bernama
* See also Petronas Chemicals Q2 earnings down 17% to RM462m
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