Petronas Profit Slides 34% on Crude Prices, South Sudan Shutdown

Petroliam Nasional Bhd., Malaysia’s state energy company, said it will struggle to match last year’s earnings after second-quarter profit fell 34 percent on lower crude oil prices.

Net income dropped to 12.8 billion ringgit ($4.1 billion) in the three months ended June 30 from 19.4 billion ringgit a year earlier, the company known as Petronas said in a statement in Kuala Lumpur today. Revenue slipped 3 percent to 70.7 billion ringgit, also hurt by a production shutdown in South Sudan.

To contact the reporter on this story: Chong Pooi Koon in Kuala Lumpur at pchong17@bloomberg.net

To contact the editors responsible for this story: Barry Porter in Kuala Lumpur at bporter10@bloomberg.net; Jason Rogers in Singapore at jrogers73@bloomberg.net

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