KUALA LUMPUR, March 18 — Petronas recorded a revenue of RM223.1 billion and a pre-tax profit of RM95.5 billion for the financial year ended March 31, 2008 during which the average world oil price was US$82 (RM295) a barrel, Deputy Prime Minister and also Finance Minister Datuk Seri Najib Razak said today.
However, taking into view that Petronas’ current financial year will end only on March 31, 2009, the real effects of the drop in world oil price on Petronas’ earnings cannot be ascertained as yet, he said.
Najib said this in his written reply to Teresa Kok (DAP-Seputeh) who wanted to know the estimated reduction in Petronas earnings following the oil price drop in 2007 and 2008 and the consequent amount of drop in the government’s earnings following the world oil price drop.
The world oil price experienced a steep rise and a significant drop both during the same financial year period which will end only this March 31, 2009, he said.
On the country’s earnings this year, the deputy premier said it would not be badly affected due to the drop in petroleum price as the income tax from petroleum is based on the year before.
“The average price of oil up till December last year was US$104 a barrel compared with the originally estimated price of US$125 a barrel for the year (2008),” he said. — Bernama
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