Petronas posts higher Q4 profit, sees lower oil prices in 2023

Petronas has posted a 55 percent jump in quarterly profit today on higher energy prices and bigger sales volume, but warned of moderating prices for this year due to an expected slowdown in the global economy.

The state oil firm reported a profit of RM24.4 billion for the three-month period ending December 2022, compared with a profit of RM15.7 billion in the same quarter a year ago.