Petronas posts RM16.5bil loss

PETALING JAYA: Petroliam Nasional Bhd (Petronas) posted a net loss of RM16.5bil in the first half ended June 30, 2020 due to impairments and weaker oil prices.

The national oil company said this would affect its dividend payout to the government as it reported a net loss, in contrast with a net profit of RM28.9bil a year ago.“Excluding impairment loss, the group would have recorded net profit of RM7.7bil,” it said yesterday.