Petronas to invest RM250b in next 5 yrs

Written by theedgemalaysia.com
Wednesday, 02 March 2011 19:32

KUALA LUMPUR: Petroliam Nasional Bhd plans to RM250 billion in the next five years in exploration and asset replacement to maintain the exploration levels.

Petronas said on Wednesday, March 2 the capital expenditure would be financed from its own funds.

The national oil corporation also said its earnings in the third quarter ended Dec 31, 2010 jumped 73.9% to RM21.20 billion from RM12.19 billion a year ago. Its revenue rose 12.3% to RM60.04 billion from RM53.43 billion.

For the nine-months ended Dec 31, 2010 its net profit was 36.3% higher at RM44.29 billion compared with RM32.48 billion. Its revenue increased 15.8% to RM175.58 billion from RM151.61 billion.

An analysis of Petronas’ plans and financial performance in The Edge FinancialDaily on Thursday.

Source: The Edge Malaysia