National oil corporation will increase its dividend payout by an extra RM5 billion from the RM35 billion previously announced.
Petronas says it will be able to honour its dividend commitment to the government without impinging on its operational integrity.
“It is a longer-term projection in discussions we have with our shareholders. We take the long view discussions, not just for the next 12 months but let’s say, further to 2030,” she said during a briefing on Petronas’ first half financial results today. President and group CEO Tengku Muhammad Taufik previously said in June that the approved dividend for FY2023 to the government was RM35 billion.Petronas saw a 29% decline in profit after tax for the second quarter ended on June 30 , with earnings falling to RM16.4 billion from RM23 billion in the same period last year.
However, this decrease was partly mitigated by increased sales volume in petroleum and petrochemical products, along with a positive foreign exchange influence. The upstream division experienced a 20% decline in revenue to RM33.4 billion from RM41.92 billion due to reduced average realised prices and sales volume for crude oil, condensates, and natural gas.
“We have upheld the view that we will always be guided by fundamentals, but even today reading fundamentals has proven to be extremely clouded by noise,” he said.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
PETRONAS to pay RM40bil dividend to government in 2023KUALA LUMPUR: Petroliam Nasional Bhd (Petronas) will pay a total of RM40 billion in dividends to the government this year, which is RM5 billion more than the initial RM35 billion announced earlier.
Read more »
RM5,000 shot in the arm for 14 rugby teams competing in Agong’s CupKUALA LUMPUR: The 14 rugby teams competing in this year’s Agong’s Cup will get a shot in the arm as they will each receive a grant of RM5,000. Malaysi...
Read more »
KRM: 14 pasukan sertai Piala Agong bakal terima geran RM5,000KUALA LUMPUR: Sebanyak 14 pasukan yang beraksi pada Kejohanan Ragbi Piala Agong 2023 mendapat suntikan dana untuk memberikan saingan hebat apabila mas...
Read more »
Pasukan sertai Piala Agong terima geran RM5,000Sebanyak 14 pasukan yang beraksi dalam Kejohanan Ragbi Piala Agong 2023 mendapat suntikan dana apabila menerima geran RM5,000.
Read more »
PM Anwar recognises commitment by TNB, Petronas in supporting Malaysia’s transition to green energyKUALA LUMPUR, Aug 29 — Prime Minister Datuk Seri Anwar Ibrahim today acknowledged the commitment, professionalism, and dedication of Tenaga Nasional Bhd (TNB) and Petroliam...
Read more »
Direct Lending, Petronas AutoExpert perkenal pelan ansuran servis kereta patuh syariahMelalui kerjasama itu, PETRONAS AutoExpert menggunakan model ‘Buy Now Pay Later’ (BNPL), menjadikan perkhidmatan servis kereta lebih ringkas
Read more »