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
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