Petron Q4 earnings up 45% on improved refining margins

In a statement, it said revenue in the fourth quarter was, however, lower at RM1.51bil, compared with RM2.91bil a year earlier

PETALING JAYA: Petron Malaysia Refining and Marketing Bhd’s net profit for its fourth quarter ended Dec 31,2020 rose 45% to RM42.02mil from RM28.97mil in the previous corresponding period, boosted by improved refining margins and net inventory gains from recovering oil prices in the final quarter of 2020.

In a statement, it said revenue in the fourth quarter was, however, lower at RM1.51bil, compared with RM2.91bil a year earlier.