Petron revenues up 29% to $788mn in third quarter
Petron Malaysia Refining & Marketing Bhd (PMRMB) reported a 29% increase in revenues for the third quarter of 2018 to RM3.30 billion ($788mn) from RM2.56 billion in the same quarter last year. The company said this is due to higher oil prices and growth in sales volumes.
PMRMB’s sales volumes for the quarter increased by over 100,000 barrels versus the same period in 2017 to 9.1 million barrels despite decreased demand from the commercial sector.
Benchmark Brent crude averaged US$75/barrel during the quarter, 44% higher than US$52/barrel average in the same quarter last year.
“We remain optimistic that we will end the year on a high note. We are on track with our strategic programs aimed at reaching more customers while giving them a better experience. We continue our retail and logistical expansion while upgrading efficiencies throughout our supply chain,” said PMRMB Chairman Ramon S. Ang.
Petron Malaysia is a leading company in Malaysia’s downstream oil market. Through more than 600 stations nationwide, it retails premium fuels namely Blaze 100 Euro 4M, Blaze 97 Euro 4M, Blaze 95, Turbo Diesel Euro 5 and Diesel Max.
