Petronas profit surges to record high of RM101.6 billion

PETROLIAM Nasional Bhd (Petronas) posted its strongest financial performance with a net profit of RM101.6 billion in the financial year ended December 31, 2022 (FY2022), up 99.6% against RM50.9 billion a year ago, on the back of favourable market conditions last year.

The national oil company recorded an all-time high revenue of RM375.3 billion in FY2022 from RM248 billion year-on-year, a jump of 51.3% mainly due to the favourable price impact for major products aligned with higher benchmark prices.