Record-high profit for Petronas in 3Q22

• Petronas’ net profit for the third quarter ended Sept 30, 2022 jumped 88% year-on-year to RM30.8 billion, on favourable price impact on major products and favourable exchange rate impact.
• The strong crude oil prices and weak ringgit helped push revenue up 60.5% to RM99.2 billion, from RM61.8 billion the year before
• Petronas said cumulative capital expenditure for 9MFY2022 amounted to RM27.4 billion, up 34% from the same period last year. “Upstream business remains a major contributor,” it said.

External Link : https://www.theedgemarkets.com/article/petronas-3q-net-profit-rm308-bil-favourable-forex-product-price-impact