Rising Profits Hide Steady Cost Increases

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.

To read the full article, please choose one of the following options: