A Bloomberg report by Jane Lee and Katherine Espina says that Malaysia’s state oil company, Petroliam Nasional Bhd (Petronas) net income for the financial year ended 31 March 2008 achieve a record RM 61 billion, an increase of 31% from RM 46.4 billion the previous year. This is due to the increased overseas production and higher prices for crude, petrochemical and liquefied natural gas.
The report also quoted Petronas CEO, Hassan Merican saying “It’s getting more and more challenging, more and more difficult to discover hydrocarbons, even internationally.”
“Demand is very strong and continues to be very strong,” he added.
The report further said that Petronas’s total oil and gas output rose 3.7 percent to the equivalent of 1.77 million barrels a day. Crude oil and condensate production gained 4.2 percent to 784,800 barrels a day while gas output climbed 3.2 percent to the equivalent of 987.9 million barrels of oil a day. Revenue gained 21 percent to 223.1 billion ringgit.
For more details, read http://www.bloomberg.com/apps/news?pid=20601080&sid=aeWu28aN8TVY&refer=asia
Tue 15 Jul 2008 23:37
James - thanks for this posting. Fortunately, Malaysiakini also posted such article later.
It is important not to let the people be continously fooled by the gov. Do you angry after reading such article and know the truth?
The gov also continously misusing the word \\\’public safety\\\’ in media to fool the people to justify the road blocks. Those who missed their exams, appointments, and urgent hospital treatments has no redress as gov people is immune in court.
Many commentators suggested to sue them but don\\\’t they realize nobody could win any case against gov people?