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Petronas lifts Q4 capex spending as Q3 profit jumps


PETALING JAYA: Petroliam Nasional Bhd (Petronas) says it will raise capital expenditure (capex) spending in the last quarter of the year to lift production and increase capacity as the higher average price of crude oil in the three-month period ended Sept 30 boosted its profit.

The national oil company, in a statement on Tuesday, said third-quarter profit before tax jumped 26% to RM18.87bil compared with RM14.95bil in the corresponding period last year.

Corporate News , Oil & Gas , Petronas

   

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