Petronas net profit for the first quarter ended March 31, 2017 has been more than doubled to RM10.3 billion from RM4.6 billion a year ago, on higher average realized prices and lower net impairment on assets.
Despite positive results, Petronas maintained a conservative outlook for the remainder of the year as supply and demand imbalances have yet to return to a sustained equilibrium.
The company will continue to focus on driving upstream and downstream businesses to maximize returns in unlocking value as a fully integrated oil and gas company.
