Petronas FY22 profit surges to record high on higher oil prices

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Petronas FY22 profit surges to record high on higher oil prices

STORY: Petronas FY22 profit surges to record high on higher oil prices DATELINE: March 15, 2023 LENGTH: 00:02:00 LOCATION: Kuala Lumpur CATEGORY: ECONOMY SHOTLIST: 1. various of KLCC Twin Towers, also known as Petronas Twin Towers 2. various of Petronas logo at its office tower 3. various of crowds filling up petrol at Petronas oil station STORYLINE: Malaysia's state-owned oil and gas firm Petroliam Nasional Bhd (Petronas) has said that it posted a record high profit after tax in the financial year ending on Dec. 31, 2022 (FY22), underpinned by higher oil prices. Petronas said that the group's profit after tax for FY22 almost doubled to 101.6 billion ringgit (about 22.35 billion U.S. dollars) from 50.9 billion ringgit a year ago. The group's revenue for the year also surged 51.33 percent to 375.3 billion ringgit (about 83.94 billion U.S. dollars) from 248 billion ringgit a year ago, mainly due to the favorable price impact for major products aligned with higher benchmark prices. The group's capital inve

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