Petron Malaysia Profit Triples In Q2 Despite Oil Price Slump

Petron Malaysia Refining & Marketing Bhd (PMRMB) delivered strong results in the second quarter of 2025, with net profit surging to RM41 million, more than triple the RM13 million recorded a year ago.

The boost came mainly from improved operations at its Port Dickson Refinery, which lifted plant utilization and production of higher-value fuels. 

This helped offset the impact of volatile crude prices and inventory costs.

Sales volume for the quarter held steady at 9 million barrels, supported by stronger commercial demand. Global oil markets, however, remained shaky. 
Prices of benchmark Dated Brent crude dipped to as low as US$64 a barrel in May, before recovering to US$71 in June amid Middle East tensions. 

On average, crude traded at US$68 a barrel in Q2, down 20% from US$85 last year.

As a result, revenue slipped 24% to RM3.3 billion. Still, gross profit climbed 41% year-on-year to RM103 million, while operating income more than doubled to RM52 million.

For the first half of 2025, PMRMB booked RM6.9 billion in revenue and RM122 million in net profit which is a 47% jump from last year. 

Operating income rose 9% to RM167 million, aided by cost savings and risk management strategies.

Chairman Ramon S. Ang said the company will continue improving efficiencies while expanding its footprint.

“We remain committed to strengthening our operations, expanding our market reach, and delivering long-term value to our stakeholders, while advancing our sustainability goals. 

“Notably, we have streamed 15 new service stations under the Petron Malaysia group,” Ramon said.