The cargo was sold at a premium of $3.90 a barrel to Dated Brent, they added. Petronas last sold a February-loading Bertam cargo to Chinaoil at a premium of $3.50 to $3.90 a barrel above Dated Brent.
KUALA LUMPUR: Petroliam Nasional Bhd (Petronas) profit after tax decreased 21% to RM14.3bil for the fourth quarter ended Dec 31, 2018 primarily due to higher product costs, depreciation and amortisation as well as petroleum proceeds.
Revenue rose 13% to RM69.8bil mainly due to the impact of higher average realises prices for all key products. This was partially offset by the impact of lower sales volume, mainly for LNG.
For the full year ended Dec 31, 2018, Petronas’ profit after tax rose 22% to RM55.3bil on the back of a 12% increase in revenue to RM251bil and supported by net write-back of impairment of assets.
This was partially offset by higher net product and production costs, depreciation and amortisation as well as tax expenses.
Capital investments increase 5% to RM46.8bil in 2018.
Production increase 2% to 2,361 kboe/d mainly attributed to higher production from Iraq and Turkmenistan.
Petronas has declared dividends of some RM54bil for FY18. This consists of a special tax exempt dividend of RM30bil declared in Nov 2018, which has been and will be paid in instalments between Jan and Nov 2019.
There was also a final tax exempt dividend of RM24bil that will be tabled for shareholders approval at the forthcoming AGM.
Limited time offer:
Just RM5 per month.
