KUALA LUMPUR — Petronas’ pre-tax profit for the second quarter ended June 30, 2014 rose 28 per cent to RM28.1 billion from RM22 billion in the corresponding period last year on the back of higher revenue.
Its revenue increased 15 per cent to RM85.4 billion from RM74.4 billion previously, driven by improved production, higher gas sales and favourable exchange rate.
Production volume improved following production enhancement efforts and new production streams from Malaysia and Iraq, production resumption in South Sudan and additional production from Canada, Petronas Executive Vice-President and Group Chief Financial Officer Datuk George Ratilal told a media briefing here today.
For the first half ended June 30, 2014, Petronas’ pre-tax profit went up nine per cent to RM55.3 billion from RM50.8 billion in the corresponding period last year.
The revenue advanced 12 per cent to RM169.41 billion from RM151.10 billion previously. — BERNAMA