Malaysia's Petronas sees energy price declines ahead as profit soars

State oil and gas company's top executive says outlook depends on war in Ukraine

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Petronas President and Group CEOTengku Muhammad Taufik, third from left, says elevated energy prices are likely to slowly ease from early next year. (Photo by Hakimie Amrie)

P PREM KUMAR, Nikkei staff writer

KUALA LUMPUR -- Malaysian state energy company Petronas said on Tuesday first-half net profit more than doubled from the same period last year on high oil and gas prices, but expects those to ease from next year on more stable supplies.

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