Malaysia’s Petronas reports higher H1 profit, revenue

Business Recorder reported that Petronas, the Malaysian state energy firm, lifted both its revenue and its profit in the first six months of 2026. Revenue grew 15 per cent to 152.4 billion ringgit, equal to USD37.89 billion, from 132.6 billion ringgit a year before. Profit after tax reached 27.2 billion ringgit (USD6.76 billion) for the half-year closing June 30, versus 26.2 billion ringgit in the same stretch of 2025.

Upstream profit after tax rose to 28.11 billion ringgit from 16.5 billion ringgit, while gas and maritime earnings climbed to 16.7 billion ringgit. The downstream arm, however, ended the period with a net deficit of 15.2 billion ringgit. The top-line gain was credited to stronger domestic output, higher LNG and processed gas volumes, and better average realised prices for its main products.

Capital spending came to 41.4 billion ringgit, with the bulk directed at an extra downstream injection into the Pengerang Refining Company and Pengerang Petrochemical Company joint venture, alongside upstream exploration and development. Greenhouse gas emissions dipped slightly to 26.80 million tons, from 26.82 million tons in the same period of 2025. The company pointed to geopolitical headwinds and a prolonged Middle East conflict and said global uncertainty would keep shaping prices, trade and costs, creating a tough operating backdrop.