Petronas scores wins in tough year

KUALA LUMPUR: A tough environment where the prices of oil and gas had compressed margins saw Petroliam Nasional Bhd (Petronas) post lower earnings but the oil giant managed to increase its cashflow and also lower costs during the year.

For its financial year ended Dec 31,2019, Petronas executive vice-president and group chief financial officer Tengku Muhammad Taufik Tengku Aziz said at a briefing that cashflow from operations, a key point for the company, had actually improved despite the challenging environment.