Breaking news -- GOOD for the National Oil Corporation, but I don't know about the RAKYAT!
DEAR READERS: PLEASE READ UPDATE on June 30, 2006 which reports a slightly higher net profit figure compared with Reuter's initial report, according to the NST~~~
"HIGHER crude oil prices pumped up Petroliam Nasional Bhd's (Petronas) net profit by 22 per cent to a record RM43.6 billion for the year-ended March 31 2006." (ends advisory)
Petronas net profit up 23% (Updated)
01:29PM (29-06-2006)
Petroliam Nasional Bhd (Petronas) reported on June 29 a 23% jump in 2006 full-year profit, fueled by soaring crude oil prices and strong demand.
The nation's biggest and most profitable company posted a record net profit of US$11.6 billion (RM42.79 billion) for the year ended March 31, after Malaysian crude prices surged 37% in the financial year.
Petronas said it expected oil prices to remain firm, given a volatile and uncertain global oil and gas industry and rising exploration and development costs.
But chief executive Tan Sri Hassan Marican declined to provide a clearer market outlook. "I don't have a crystal ball. I don't comment on prices," he told reporters.
Petronas said revenue grew 23% to an all-time high of US$44.3 billion. Malaysia is a major oil and gas exporter and is Southeast Asia's third largest economy, worth US$118 billion.
Less than a quarter of Petronas' revenue was derived from the Malaysian domestic market.
It said operating cash flow rose to US$16.2 billion in 2006 from US$12.4 billion a year earlier. Net cash surplus was US$1.8 billion, down from US$3.6 billion in 2005.
The firm, which operates in 30 countries and aims to become a major global player, will allot RM27.7 billion in capital expenditure in the current year, up 18.5% from a year earlier.
"We have a lot of cash," Hassan said. Total cash and fund investments surplus totalled RM93.1 billion in 2006, up from RM75.2 billion a year ago.
Minus the group's debt of RM43.9 billion, its net cash position stood at RM49.2 billion. Most of its debts will mature in five to 10 years.
Petronas said it produced 432,300 barrels of oil equivalent (boe) a day outside Malaysia in 2006, or 27% of its total output.
Total reserves stood at 25.85 billion boe. International reserves accounted for 23% of the company's total reserves. -- Reuters
--- end ---
DESIDERATA: Will comment on this after perusing the results, comparing with last financial year's, which I recall was net profit of RM35.5billion (that is IF my grey cells serve me right!)
Cherrio for now, and PRAY VERY HARD THE DECISION-MAKERS AT PETRONAS FLOW BACK SOME OIL MONEY INTO THE PEOPLE'S POCKETS, not just their management and staff. Afterall, oil is a national asset, RIGHT? Tell Desi what are your expectations? A round of pump price DECREASE?
I won't hold such FAT HOPES.
13 comments:
So you both have a new professional job now, eh? After Jeff, me, Xpyre, now Uncle Desi.
Hmmm, let's see, who's next? AM, Mave, Lucia and KTemoc later?
We will be waiting more from you, you fucking pricks. Stalk us more and make our days.
howsy:
TThese scums don't have a life. They should go back to da black hole where the sun don't shine.
Thanks for responding even before I do. THat's what friends are for...APpreciated. I've sent the ball back into lundun's court.
I don't know IF we need a Refereee?
Mave sm -- art thou available?
Dera ALL:
The day before, I had writ:
Don't take one-liner potshots. That';s for IDIOTS, MORONS and like a BABOON (Sorry, Zoo Negara residents, if I offend thee with such metaphor...)
And here come two Morons to prove my point!
Decrease the oil prices? Haha. Highly unlikely.
We'll see what happens next.
*ehem* good for petronas scholarship holders.. like me.. haha. don't worry, the profits will come back to rakyat.. they can't have too much profit otherwise they pay big taxes..
kyels:
SICKening, isn't it? That the Rakyat don't get to ENJOY a little of Petronas' golden eggs -- excpet for some Feel Good messages at Hari Raya, KOngsi Raya, Deepavali, Christmas -- heh, messages don';t feed the stomachs you people atop Petronas Twin Towers, hear us?
to next Commenter, I wsih you ID yourself, never mind at this stage!~~
"...they can't have too much profit otherwise they pay big taxes..." Can you ponder, saudara -- THAT IS NET PROFIT, after payying RM30billion taxe plus another RM10billion in other forms!
Think lah, God gave us a brain, and not Feel Numbed prick just because the *... gave you a scholarship!
Someone told me on Friday night:
"Joe, your comment on Desi's blog got deleted."
My response was:
"Yeah right, Desi is not Jeff what."
Apparently I was wrong.
tigerjoe:
The said comment by you was there for a substantial period UNTIL an opportunistic asecond person came in, for a first timer, to "piggy ride" on your bag -- taking a potshot at third parties (among them one based in lundun whose comments there by This Said Rider caused his reputation to precede him.
I don't wish to turn Desi's Place into a Streetfighters' Corner -- for that people can join the FIGHT CLUB.
If you recall, I enjoyed a series of excahnges a year ago, yes, related to PETRONAS too, but then no one tried to ride the tiger to "stit shit".
So my DELETIONS are exercised by this Host as a Preventive measure. For better or for worse, I have to face the consequence/s of my decision.
Thanks for reverting. I hope this subjet is closed; maybe you can adjourn to my Sunday's interlude tiotled "Taking you on a celestial flight" when the Said Subject was put under scrutiny by Xpyred (I don't know him either; I go by the SUBJECT MATTER for discourse.)
TO ALL ER:
If you wish to have your point of view, please adjopurn to the Sunday's Post undeer reference.
6.09PM< Monday July 3, 2006
PS: Tiger Joe, I won't DELETE this latest Comment by you, it's welcomed, BUT I HOPE NO OTHER OIPPORTUNISTIC THIRD PARTY LATCH ON THIS CONVERSE SPOILING FOR A FIGHT. I have outgrown that phase of my short life on thie blessed Earth, and I indeed wish to conserve a few more decades on it for myself; for thee too, because I don;t have any quarrel with thee.
PS to TigerJoe:
NOTE also I DELETED MY OWN COMMENTS IN RELATED RESPONSES. ~~ Desi
PPS: I've done similar DELETIONS on two other occasions when I felt that was the RIGHT DECISIONS to make to give meaning to what I set out to do when I starte this blog, OUTLINED IN MY INITIAL 3 POSTS STARTING March 15, 2005 -- Yeah, Beware the IDES OF MARCH!
Post a Comment