PENANG, Malaysia -- State energy group Petronas on Tuesday announced that its net profit for 2024 declined 34% to 49.1 billion ringgit ($11 billion), marking the second consecutive annual drop due to lower commodity prices.
Malaysian state energy group plans to 'right size' its labor force to survive
Lower commodity prices in 2024 dragged down Petronas' net profit for the second year in a row. © Reuters
PENANG, Malaysia -- State energy group Petronas on Tuesday announced that its net profit for 2024 declined 34% to 49.1 billion ringgit ($11 billion), marking the second consecutive annual drop due to lower commodity prices.