♦ Petronas net profit up 60.5%. Petronas’ 1QFY3/11 net profit grew a
significant 60% yoy on the back of higher revenue from higher oil prices and
cost-cutting measures. The upstream and gas and power divisions’ EBIT
earnings grew 54.1% and 27.9% respectively. However operationally all
divisions’ production were flattish. These results are unsurprising given that
2009 was a watershed year for the whole of the oil and gas sector.
Oil And Gas Sector Update : Petronas’ 1QFY11 Net Profit Up - 05/10/2010
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