Petronas, as the company is known, reported a profit of RM24.4bil for the three-month period ending December 2022, compared with a profit of 15.7 billion ringgit in the same quarter a year ago.For 2022, Petronas joined other oil majors in posting record financials: revenue surged 51% to RM375.3bil, while profit doubled to RM101.6bil.Petronas' chief executive officer Tengku Muhammad Taufik said he expects prices to correct this year.
"As demand recovery is still fragile, based on supply challenges, this means volatility," he said at a news conference. Petronas also said the group will continue to exercise prudent financial management and firm discipline in reinvesting. - Reuters
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