Media Kit: 
https://drive.google.com/drive/u/0/folders/1TYefAcIwuyogu9WSa48U_vTaP48wExZe

KUALA LUMPUR, March 13 (Bernama) -- For the financial year ended 31 December 2022 (FY2022), PETRONAS recorded revenue of RM375.3 billion, mainly due to the favourable price impact for major products aligned with higher benchmark prices.
 
Despite the prolonged volatility seen in the markets throughout 2022, moving forward the Group will continue to exercise prudent financial management and firm discipline in reinvesting to provide the energy security needed today and for a just and responsible transition.
 
FY2022 Results (Analysis against FY2021)
• Revenue improved to RM375.3 billion, mainly due to the favourable price impact for all products aligned with higher benchmark prices.
• PAT increased to RM101.6 billion and EBITDA stood at RM170.7 billion.
• Cash Flows from Operating Activities (“CFFO”) increased to RM135.3 billion.
• Capital Investments (“CAPEX”) stood at RM50.1 billion contributed by Upstream and Downstream projects.        
• Total Assets strengthened to RM710.6 billion as at 31 December 2022.
• Shareholders’ Equity increased to RM401.6 billion as at 31 December 2022, mainly attributable to the profit recorded during the year.
Q4 FY2022 (Analysis against Q4 FY2021)
• Revenue improved to RM105.9 billion, predominantly contributed by favourable price impact for all products and higher sales volume.
• PAT improved to RM24.4 billion and recorded EBITDA of RM40.6 billion.
• CFFO stood at RM52.2 billion.
 
  
PETRONAS President and Group CEO, Datuk Tengku Muhammad Taufik said:
 
“The PETRONAS workforce continues to be driven by our purpose to be a progressive energy and solutions partner enriching lives for a sustainable future. Their resilience enabled the Group to deliver a strong performance in 2022.
 
While 2022 enabled us to favourably capitalise on oil and gas upsides, last year also signalled heightened supply-demand volatility driven by sudden shifts in the market and an accelerated energy transition. 
 
Even as we progress with relatively steadier footing, PETRONAS will continue strengthening its integrated value chain with a sharper focus on commercial and operational excellence. The Group is focused on the disciplined delivery of our three-pronged growth strategy and Net Zero Carbon Emissions by 2050 aspiration combined with prudent management of our financial commitments and debt obligations.
 
PETRONAS has no choice but to future-proof the group to preserve our ability to deliver long-term sustainable value as a National Oil Company and a global energy player. To this end, PETRONAS must remain resolute in providing energy that is secure, affordable and accessible towards uplifting communities and supporting countries to achieve their net zero ambitions. PETRONAS is determined to do this steadfastly through stronger partnerships with our stakeholders, partners, local OGSE players and customers across the globe.” 
 
Outlook
The oil and gas industry could potentially see prices moderating in 2023 given an anticipated economic slowdown, even as it contends with prolonged market volatility. In this environment, PETRONAS will continue to drive operational excellence in its core business while it pursues its growth and sustainability targets.
 
Reference
 
Click here to view PETRONAS Group Financial Report:
https://www.petronas.com/sites/default/files/uploads/
content/2023/Financial%20Operational%20Report%20Q4%20FY2022.pdf
Click here to view PETRONAS Group Financial Operational Report:
https://www.petronas.com/sites/default/files/uploads/
content/2023/Quarterly%20Report%20Q4%20FY2022.pdf
Refer Appendix for Sustainability & Social Impact and Operational Highlights
 
 
Issued by
Media Communications Department
Group Strategic Communications
PETRONAS


SOURCE : PETRONAS

FOR MORE INFORMATION, PLEASE CONTACT:
Name : Muhamad Helmi Abd Majid
Executive, Media Communications
Group Strategic Communications
PETROLIAM NASIONAL BERHAD (PETRONAS)
Tel : + (603) 2392 3055 
Email : muhamadhelmi.abdmaj@petronas.com

--BERNAMA