Petronas records lower earnings in 3Q amid weaker average realised prices

A sign for a Petroliam Nasional Bhd (Petronas) gas station stands near the Petronas KLCC Twin Towers in Kuala Lumpur, Malaysia. - Goh Seng Chong/Bloomberg

KUALA LUMPUR: Petroliam Nasional Bhd (Petronas) recorded a net profit of RM23.9 billion in the third quarter (3Q) ended Sept 30, 2023, compared with RM30.8 billion in the same period a year earlier.

Revenue for the quarter also declined to RM82.9 billion from RM98.9 billion year-on-year, primarily due to lower average realised prices, partially offset by favourable foreign exchange impact.