HIGH oil prices saw Petroliam Nasional Bhd (Petronas) report a bumper profit for its financial year ended March 31, but the national oil company's president and chief executive Tan Sri Mohd Hassan Marican stressed that skyrocketing prices was not the sole reason for the record-setting financial performance.
Hassan said the group's manufacturing business, which consists of the manufacture of petroleum products, liquefied natural gas, processed gas and petrochemicals, accounted for RM78.2bil or 57% of the group's total revenue of RM137bil for the financial year just ended. He also credited improvements in efficiency as another factor for the improved financial performance.
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