KUALA LUMPUR, Aug 30 (NNN-BERNAMA) – Malaysia’s state-owned oil and gas firm, Petroliam Nasional Berhad (Petronas), announced yesterday that, its profit after tax for the first half of 2025 fell 19 percent, year-on-year, to 26.2 billion ringgit (6.2 billion U.S. dollars), in line with lower revenue.
The firm said in a statement that, its revenue for the first half also decreased by 24 percent year-on-year to 132.6 billion ringgit.
The decline was primarily due to the impact from discontinued operations from the divestment of the Engen Group in May 2024, unfavourable foreign exchange, as well as, lower average realised prices from petroleum products, crude oil and condensates, following the downward trend in benchmark prices.
“As the industry contends with rising costs and declining benchmark prices, putting downward pressure on margins, Petronas will double down on our efforts in commercial and operational excellence, portfolio high-grading through strategic partnerships, and disciplined financial stewardship,” the firm’s president, Tengku Muhammad Taufik, said.
Meanwhile, Petronas expects oil prices to remain subdued, due to persistent geopolitical tensions, macroeconomic uncertainties, evolving regulatory landscapes and accelerated unwinding of OPEC+’s production cuts, which will continue to reshape global energy dynamics and trade flows.
In navigating the complex global market and operational challenges, it said, the group is undergoing a strategic transformation with a sharpened focus on portfolio high-grading and strategic partnerships, as well as, enhanced productivity and cost efficiency. (1 ringgit equals 0.24 U.S. dollar)– NNN-BERNAMA
