Revenue slumped to RM1.51 billion from RM2.91 billion previously due to lower sales volume and decline in oil prices, it said in a filing with Bursa Malaysia today. — Picture from Facebook/Petron CorporationKUALA LUMPUR, Feb 23 — Petron Malaysia Refining and Marketing Bhd’s net profit rose to RM42.01 million in the fourth quarter ended December 31, 2020 , from RM28.96 million posted in the same period last year.
PMRMB said during the final quarter last year, the government had reimposed the conditional movement control order in response to the spike in Covid-19 cases. The company added that the Dated Brent benchmark crude oil price rallied to an average US$50 per barrel in December 2020, from its September 2020 average of US$41 per barrel.
“However, Q4 2020’s average of US$44 per barrel remained 30 per cent lower from Q4 2019’s average of US$63 per barrel,” it added.
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