Rising Profits Hide Steady Cost Increases

July 2006 | Company News Alert

State-owned Petronas's investment-led overseas diversification strategy continues to enjoy success. High oil and product prices drove profits (before tax) up 21.9% in FY2006, although strong growth in gas and, to a lesser extent, LNG sales were offset by output declines elsewhere. Looking ahead, the company's strong net cash position will help maintain positive replacement ratios.

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