KUALA LUMPUR: Petroliam Nasional Bhd (Petronas) posted net profit of RM12.3 billion for 1QFY11, up nearly 60% from RM7.7 billion a year ago, buoyed stronger oil price and higher sales volume.
The national oil company said on Monday, Oct 4 that revenue rose 26.3% to RM58.6 billion from RM46.4 billion previously.
Petronas, which paid out RM30 billion to the federal government for FY10, expected to maintain similar dividend amount for FY11.
Its CEO & president Datuk Shamsul Azhar Abbas however noted that 2HFY11 would not be as good as in 1HFY11 amidst uncertainties in the global economy.
But he reckoned Petronas would still perform better annually than the year before.
Shamsul added that the national oil firm will focus on domestic in terms exploration. It has allocated US$2 billion over three years for local exploration, the amount is higher than US$1.2 billion previously.
The national oil company said on Monday, Oct 4 that revenue rose 26.3% to RM58.6 billion from RM46.4 billion previously.
Petronas, which paid out RM30 billion to the federal government for FY10, expected to maintain similar dividend amount for FY11.
Its CEO & president Datuk Shamsul Azhar Abbas however noted that 2HFY11 would not be as good as in 1HFY11 amidst uncertainties in the global economy.
But he reckoned Petronas would still perform better annually than the year before.
Shamsul added that the national oil firm will focus on domestic in terms exploration. It has allocated US$2 billion over three years for local exploration, the amount is higher than US$1.2 billion previously.
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