PETRONAS Gas stays bullish on gas and utilities demand

KUALA LUMPUR: Despite profits taking a dip in the second quarter of the year on higher fuel gas prices, Petronas Gas Bhd is optimistic on prospects given a bullish outlook on gas and utilities demand and steady revenue streams from its long-term contracts.

For the quarter ended June 30, 2022, the gas merchant said net profit was RM396.5mil, a 9.69% decline from the previous corresponding quarter, on revenue of RM1.5bil, 8.7% higher year-on-year.