Malaysia’s Petronas Q1 profit falls on high costs, low prices

Malaysia’s state energy firm Petronas, or Petroliam Nasional Berhad IPO-PETO.KL, reported a near 11% decline in first-quarter net profit on Friday due to higher operating costs and lower realised prices across its businesses. Profit after tax in the three months ended March 31 was 21.3 billion ringgit ($4.53 billion), down from 23.8 billion ringgit a ...