PETRONAS FY24 net profit at RM55bil

Quick Summary:

Petroliam Nasional Bhd (PETRONAS) is determined to continue creating long-term sustainable value for its shareholders besides providing energy security reliably amid the current challenging operating environment.

Apart from the RM32bil dividend, PETRONAS also paid RM26.8bil in tax including state sales tax and duties, RM13.1bil for cash payments and RM500bil towards the National Trust Fund in FY24.

Tengku Muhammad added that refining margins dropped 40% since 2023 due to weak demand growth in transport fuels and an increase in refining capacity that has raised the supply of petroleum products.

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Article Details

Author / Journalist: BHUPINDER SINGH

Category: EconomyBusiness

Markets: MalaysiaCanadaGuineaIndiaIndonesiaPapua New Guinea

Topics: Petronas CarbonCapture OilAndGas SustainableGrowth EnergySecurity GlobalExploration LNGExpansion /Business/Business News Corporate News RenewableEnergy

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-02-26 @ 00:00:00 (17 hours ago)

News Timezone: GMT +8:00

News Source URL: thestar.com.my

Language: English

Article Length: 1147 words

Reading Time: 7 minutes read

Sentences: 36 lines

Sentence Length: 32 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © The Star

News ID: 26445749

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About The Star

Main Topics: EconomyBusiness

Official Website: thestar.com.my

Update Frequency: 47 posts per day

Year Established: 1971

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News Last Updated: 51 minutes ago

Coverage Areas: Malaysia

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