This article first appeared in The Edge Malaysia Weekly, on August 30, 2021 – September 05, 2021. – A + A PETROLIAM Nasional Bhd (Petronas) returned to the black, chalking up a profit after tax (PAT) of RM18.9 billion in the six months ended June 30, 2021 (1HFY2021). In stark contrast, the national oil company suffered an after-tax loss of RM16.5 billion in the corresponding period last year. The turnaround was due to the higher earnings before interest, taxes, depreciation and amortisation (Ebitda) it recorded in 1HFY2021, which at RM46 billion is 57% higher than the RM29.4 billion the group…
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