Petronas president and CEO Datuk Wan Zulkiflee Wan Ariffin said: "Tough times are here to stay."
Compared to the same quarter last year when Brent crude averaged at US$101.85 per barrel, revenue declined by a quarter from RM80.1bil while net profit loss 91% from RM15.1bil.
Wan Zulkiflee said the company was going to focus more on its downstream businesses and projects that would provide cash flow in the near-term.
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