Petronas is preparing for an uncertain second half of this year,” Petronas president and group CEO Datuk Wan Zulkiflee Wan Ariffin, who is better known as Wan Zul, told the press at the financial result briefing today. Wan Zul reiterates that Petronas’ dividend for this year will remain at RM13 billion. Wan Zul expressed his concern on rising US crude inventories that had recently offset quotas in the OPEC agreement to cut oil supply since last year. “We are not sure whether the OPEC agreement to cut oil production will continue in 2H17,” Wan Zul said. For the full FY16, Petronas registered a profit of RM16.95 billion, up 28% from RM13.16 billion in FY15.

Source: The Edge Markets March 14, 2017 11:15 UTC