KUALA LUMPUR -- Malaysian state energy company Petronas said Friday its full-year profit dropped 21% in 2023 as energy prices fell while revenue also took a hit, with its chief executive warning that the remainder of the year could be volatile.
Petronas posted 80.7 billion ringgit ($17.2 billion) in net profit, down from 101.6 billion ringgit in 2022 when oil prices hit a record high. Revenue for the year fell 8% to 343.6 billion ringgit.
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