Petronas reports 64% rise in Q3 profits

The Malaysian company has reported a year-on-year increase of 64% in its Q3 profits, largely as a result of improved oil prices.
By Staff reporter 23 November 2017 0 28532

Malaysia’s Petronas has reported a year-on-year increase of 64% in its Q3 profits, largely as a result of improved oil prices, according to Reuters.

The company has forecast an increase in full-year earnings for 2017,citing higher oil prices and cost-cutting measures implemented following the drop in oil prices in 2014 as major contributing factors.

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