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Petronas Chemicals Reports Higher Profits and Revenues but Gas Limitations Affect Methanol and Fertilizer Production

12:16 PM MDT | August 26, 2011 | Natasha Alperowicz

Petronas Chemicals reported net profits of MR737 million ($247 million) for the first quarter ended June 30, 2011.  Revenues were up 6% year-on-year to RM3.3 billion. The increase was primarily driven by strong prices across most petrochemical products, although the impact was partially offset by a stronger Malaysian ringgit against the U.S. dollar, the company says.  Methane gas supply limitation during the quarter affected fertilizer and methanol production but ethane and propane supply was unaffected and continued to support the operations of the...

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