SHAH ALAM, Oct 24 – Petronas has posted a net profit of RM26 billion for the first half (H1) of 2025, down from the RM32 billion it recorded in H1 last year.
Minister in the Prime Minister’s Department (Law and Institutional Reform) Datuk Seri Azalina Othman Said said this was mainly due to market factors like lower global crude oil prices and foreign exchange rates.
She said in a written parliamentary reply yesterday that the decline was because of “a significant drop in the average selling price of crude oil to US$71.87 per barrel compared with US$84.06 per barrel in the same period last year”.
Azalina was responding to Dungun MP Wan Hassan Mohd Ramli’s question on factors behind Petronas’ weaker financial showing and the government’s measures to address them.
In a separate reply to Mas Gading MP Mordi Bimol, Azalina said Malaysia generated RM775.2 billion in petroleum revenue between 2018 and 2024, based on data from Petronas, with RM284.8 billion from Peninsular Malaysia, RM205 billion from Sabah, and RM285.4 billion from Sarawak.
Over the same period, petroleum investments across Malaysia amounted to RM256 billion, comprising RM86.5 billion from Peninsular Malaysia, RM56.3 billion from Sabah, and RM113.2 billion from Sarawak.
“The overall investment-to-upstream revenue ratio stood at 33 per cent, with Peninsular Malaysia accounting for 30 per cent, Sabah 27 per cent, and Sarawak 40 per cent,” she said.
Mordi had asked about Petronas’s annual exploration and production costs for oil and gas operations in each producing state from 2018 to 2024, and the percentage of those costs relative to total revenue.
