In the first three months, Petronas has already pocketed US$18.96 billion in revenue.
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Malaysia's oil and gas company, Petroliam Nasional Berhad (Petronas), recorded revenue of RM78.75 billion (US$18.96 billion, using an exchange rate of RM4.153 per US$ as of March 31, 2022) in Q1 2022.
High crude oil prices since the beginning of the year boosted this revenue by 50% year-on-year (YoY). In Q1 2021, Petronas recorded revenue of RM52.5 billion.
Petronas' revenue primarily came from downstream activities (RM37.67 billion), followed by gas (RM24.36 billion), upstream activities (RM13.47 billion), and corporate and other income (RM3.25 billion).
Post-tax profit also increased by over 100% (YoY) to RM23.4 billion (US$5.63 billion). In Q1 2021, post-tax profit was only RM9.2 billion.
For reference, the Brent crude oil price increased by 68% (YoY) in Q1 2022 compared to Q1 2021. The average Brent crude price was US$102.23 in Q1 2022, higher than US$60.9 in Q1 2021.
"Disclosure: This is an AI-generated translation of the original article. We strive for accuracy, but please note that automated translations may contain errors or slight inconsistencies."
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