“Having persevered through nine gruelling months, Petronas has recorded slight improvements in quarter three compared to the previous quarter resulting from sporadic easing of lockdowns which has led to gradual resumptions of economic activities worldwide, ” its president and group chief executive officer, Tengku Muhammad Taufik Tengku Aziz (file pic) said.
KUALA LUMPUR: Petronas posted a net loss of RM3.4bil for the third quarter (Q3) ended Sept 30 compared with a net profit of RM7.4bil in the same quarter last year, due to lower earnings before interest, taxes, depreciation, and amortisation (EBITDA).
Higher impairment loss on assets and higher tax expenses attributed to de-recognition of deferred tax assets, primarily as a result of lower oil and gas prices outlook also affected its financial performance.
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