Published Fri, Aug 28, 2026 · 06:59 PM
[KUALA LUMPUR] Malaysian state energy firm Petronas on Friday (Aug 28) reported higher revenue and profit for the first half of 2026, but warned the global energy landscape remains uncertain amid elevated geopolitical headwinds and a prolonged Middle East conflict.
Petronas, or Petroliam Nasional, said revenue for the first half rose 15 per cent to RM152.4 billion (US$37.9 billion), compared with RM132.6 billion a year earlier. It posted a profit after tax of RM27.2 billion in the six months ending Jun 30, up from RM26.2 billion in the corresponding period last year, according to a statement.
The revenue increase was supported by stronger domestic production, greater sales volumes of liquefied natural gas and processed gas, along with favourable average realised prices across its major products.
Global uncertainty will continue to influence prices, trade flows and cost structures, creating a challenging operating environment and cost pressures across the value chain, the company said.
“Despite prevailing challenges, Petronas continued to maintain financial and operational discipline, while strengthening our upstream position, expanding our LNG supply nodes and enhancing our new energy offerings,” CEO Tengku Muhammad Taufik Tengku Aziz said.
The firm’s upstream business reported profit after tax of RM28.11 billion in H1 FY2026, up from RM16.5 billion in the year-ago period.
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Profit from its gas and maritime business rose to RM16.7 billion, while the downstream segment posted a net loss of RM15.2 billion.
Capital investments amounted to RM41.4 billion, mainly driven by downstream additional capital injection in its Pengerang Refining Company and Pengerang Petrochemical Company joint venture, as well as investments in upstream exploration and development activities.
Petronas also reported a slight decrease of greenhouse gas emissions for H1 FY2026 at 26.8 million tons of carbon dioxide equivalent, compared with 26.82 million tons in the previous corresponding period. REUTERS
