Petronas profit rises 4 percent in H1 2026

Malaysia’s state-owned oil and gas company, Petroliam Nasional Berhad (Petronas), reported a 4 percent year-on-year increase in profit after tax to 27.2 billion ringgit (6.76 billion US dollars) in the first half of this year, in line with higher revenue. The company announced on Friday (28/8) that Petronas revenue rose 15 percent to 152.4 billion ringgit, driven by higher domestic production as well as increased sales volumes of liquefied natural gas (LNG) and processed gas. The performance was also supported by favourable average realised prices across all key products. Capital expenditure amounted to 41.4 billion ringgit during the period, mainly driven by additional capital injections from its downstream business into the PRefChem joint venture, as well as investments in upstream exploration and development activities.