PetGas Q2 earnings edge up to RM453mil on gas transportation, regasification
KUALA LUMPUR: Petronas Gas Bhd’s (PetGas) net profit edged up 0.7 per cent to RM453.33 million in the second quarter ended June 30, 2026, from RM450.19 million a year earlier, supported by its gas transportation and regasification segments.
Petronas Gas Bhd, also known as PetGas, reported a slight increase in net profit for the second quarter of 2026, with earnings rising 0.7% to RM453.33 million. However, revenue declined 5.6% to RM1.5 billion, primarily due to reduced sales volumes in the utilities segment amid planned regulatory changes. Despite this, higher tariffs and increased regasification revenue helped offset the impact.
The company declared a second interim dividend of 16 sen per share, totaling RM316.6 million. For the six months ending June 30, 2026, net profit fell 2.9% to RM892.01 million, and revenue dropped 3.1% to RM3.1 billion. The main reasons for this decline were lower utilities segment revenue due to reduced sales volumes and decreased product prices.
PetGas remains optimistic about its performance in 2026, citing stable earnings from regulated and long-term contracted businesses. However, the company remains cautious about margin pressures stemming from higher fuel gas prices and increased operating costs. PetGas is committed to cost management, asset optimization, and operational resilience to ensure long-term value creation for shareholders.
Written by urgent.news from New Straits Times's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
