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Petronas marketing, refining unit posts increase in Q1 revenue, profit

Petronas Dagangan Bhd. on May 28 reported a first-quarter profit attributable to shareholders of the company of 291.2 million Malaysian ringgit, up from the 218.5 million ringgit posted in the first quarter of 2018.

The Malaysian oil and gas refining and marketing company posted first-quarter revenue of 7.09 billion ringgit, compared to the 7.07 billion ringgit noted during the corresponding period in 2018.

Operating profit for the quarter came in at 387.5 million ringgit, increasing from the 290.9 million ringgit seen during the first quarter of 2018.

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

As of May 27, US$1 was equivalent to 4.19 Malaysian Ringgit.