KUALA LUMPUR:'' Shell Refining Company (Federation of Malaya) Bhd posted net profit of RM135.54 million in the first quarter ended March 31, 2011, up 131% from RM58.61 million a year ago.
It said on Tuesday, May 10 revenue increased by 29% to RM3.20 billion from RM2.48 billion while earnings per share were 45.18c versus 19.54 sen a year ago.
Shell Refining reported after tax stockholding gains of RM153 million for 1Q11, compared to stockholding losses of RM25 million a year ago. The increase was a result of strengthening oil prices.
'In the first quarter of 2011, the refinery processed 8.8 million barrels of crude oil and sold 8.8 million barrels of product,' it said.
Its chairman Anuar Taib said he expected 'the future refining margins are expected to be under pressure in 2Q 11 due to growing concerns over oil prices and crude oil availability.
In 2011, it started work on a new 6,000 tonnes per day diesel processing unit in the refinery. The RM810-million investment will allow Shell Refining to vary feedstock options and is expected to improve refining margins.
It said on Tuesday, May 10 revenue increased by 29% to RM3.20 billion from RM2.48 billion while earnings per share were 45.18c versus 19.54 sen a year ago.
Shell Refining reported after tax stockholding gains of RM153 million for 1Q11, compared to stockholding losses of RM25 million a year ago. The increase was a result of strengthening oil prices.
'In the first quarter of 2011, the refinery processed 8.8 million barrels of crude oil and sold 8.8 million barrels of product,' it said.
Its chairman Anuar Taib said he expected 'the future refining margins are expected to be under pressure in 2Q 11 due to growing concerns over oil prices and crude oil availability.
In 2011, it started work on a new 6,000 tonnes per day diesel processing unit in the refinery. The RM810-million investment will allow Shell Refining to vary feedstock options and is expected to improve refining margins.
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