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Petronas marketing, refining unit's Q2 profit drops YOY

PETRONAS Dagangan Bhd. reported a second quarter profit attributable to shareholders of the company of 172.8 million Malaysian ringgit, down from the 314.4 million ringgit posted during the same period in 2018.

In an Aug. 23 release, the Malaysian oil and gas refining and marketing company posted second quarter revenue of 7.61 billion ringgit, increasing from the 7.28 billion ringgit noted during the second quarter of 2018.

Operating profit for the period came in at 240.4 million ringgit compared to the 422.3 million ringgit seen a year ago.

Petronas Dagangan Berhad is the principal marketing subsidiary of Malaysia's national oil company Petroliam Nasional Bhd., more commonly known as Petronas.

As of Aug. 22, US$1 was equivalent to 4.19 Malaysian ringgit.