Petronas Turns to $2.7 Billion Fourth-Quarter Loss on Oil Slump
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Petroliam Nasional Bhd., the Malaysian state oil company preparing for a leadership transition in April, reported a loss in the fourth quarter following crude’s plunge.
The loss was 9.9 billion ringgit ($2.7 billion) in the three months through Dec. 31, compared with a 9.6 billion ringgit profit a year ago. Revenue dropped 6.4 percent to 79.4 billion ringgit.