Petronas swings back to profitability in FY21 on surging oil prices. [Newspaper] (2022)
Abstract
KUALA LUMPUR: Petroliam Nasional Bhd (Petronas) has returned to the black in the financial year ended December 31, 2021 (FY21), inking a profit after tax (PAT) of RM48.6 billion from the RM21 million loss after tax (LAT) recorded in FY20. Revenue in the same period increased 39 per cent to RM248 million from RM178.7 million. The sustained performance was supported by surging commodity prices driven by the recovery in global energy demand as key economies reopened and travel restrictions eased amid higher Covid-19 vaccination rates around the world. In 2021, the average Brent crude was at US$70.91 per barrel versus US$41.67 per barrel in 2020.
| Item Type: | Newspaper |
|---|---|
| Keywords: | Profit & loss, Revenue, Demand, Commodity prices |
| Taxonomy: | By Subject > Business & Management > Economics By Subject > Business & Management > Finance |
| Local Content Hub: | Subjects > Business & Management |
| Depositing User: | Jamil Jawi |
| Date Deposited: | 06 Jul 2022 08:08 |
| Last Modified: | 06 Jul 2022 08:08 |
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