Moody’s: Petronas Ebitda drop mod­est

New Straits Times - - Business | News -

KUALA LUMPUR: Petro­liam Na­sional Bhd’s 6.7 per cent drop in earn­ings be­fore in­ter­est, tax, de­pre­ci­a­tion and amor­ti­sa­tion to RM70.4 bil­lion for last year is mod­est com­pared to crude oil prices fall, said Moody’s In­vestors Ser­vice. It said crude oil prices had fallen more steeply around 17 per cent year-onyear with Brent av­er­ag­ing US$43.69 (RM194.04) per bar­rel last year com­pared with US$52.46 in 2015. It said Petronas man­aged to con­trol the drop with its cost op­ti­mi­sa­tion ini­tia­tives.

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