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KUALA LUMPUR: Petroliam Nasional Bhd (Petronas) recorded profit after tax (PAT) of RM10.5bil for FY2020, excluding impairments, which was 78% lower compared to RM48.8bil in FY19.
THE Covid-19 pandemic has undoubtedly changed the outlook for the oil market.
KUALA LUMPUR: Petroliam Nasional Bhd (Petronas), which saw its net profit slump by 68% to RM4.5bil in the first quarter ended March 31, 2020, sees a very challenging year.
QUITO (Reuters) - Ecuador on Monday exceeded 30,000 confirmed cases of the coronavirus, while the government launched a plan to start gradually relaxing quarantine measures that have been in place since mid-March.
CRUDE whipsawed near $11 a barrel after a major index tracked by billions of dollars in funds bailed out of near-term contracts for fear prices may turn negative again.
THE ‘Perfect Storm’ – a trio comprising the US-China trade war, plummeting oil prices, and Covid-19, is truly testing the resilience of global economies. The current Covid-19 pandemic has almost frozen major economies around the world.
LONDON: Sovereign wealth funds from oil-producing countries mainly in the Middle East and Africa are on course to dump up to US$225bil in equities, a senior banker estimates, as plummeting oil prices and the coronavirus pandemic hit state finances.
PUTRAJAYA: On its first day at work, the new Perikatan Nasional Cabinet wasted no time and has set up the Economic Action Council (EAC) to address economic woes.
DALLAS: Back in September 2017, Doug Parker, the chief executive of American Airlines Group Inc., predicted clear financial skies ahead for the world’s largest carrier.