KL yet to feel effects of falling oil prices

KUALA LUMPUR, March 18 ?Petronas recorded a revenue of RM223.1 billion office broadband a pre-tax profit of RM95.5 billion for the financial year ended March 31, 2008 during which the average world oil price was US$82 (RM295) a barrel, Deputy Prime Minister and also Finance Minister Datuk Seri Najib Razak said today.

However, taking into view that Petronas?current financial year will end only on March 31, 2009, the real effects of the drop in world oil price on Petronas?earnings cannot be ascertained as yet, he said.

Najib said this in powersurf written reply to Teresa Kok (DAP-Seputeh) who wanted to know the estimated reduction in Petronas earnings following the oil price drop in 2007 and 2008 and the consequent amount of drop in the governments earnings following the world oil price drop.