Petronas posts modest output growth, but sales suffer

摘要

Singapore—Petronas posted a modest 2% year-on-year growth in oil and gas production in the third quarter of 2016 but saw a decline in petroleum products and crude oil sales volume due to lower trading activities. “Current oil price environment continues to pose significant challenges to the industry and the outlook remains uncertain,” the company said, adding that while performance in 2016 is affected, Petronas has been responsive with strong operational efficiency and financial discipline.