Petronas will raise its dividend to the Malaysian government by 19% in 2027, projecting $15 billion in petroleum-related revenue as higher global oil prices drive corporate earnings.
Rising global crude oil prices are cited as the reason for Petronas's higher profits and increased dividend.
State-owned energy giant Petronas plans to increase its dividend payout to the Malaysian government by 19% in 2027. The move follows a surge in global crude oil prices, which has significantly bolstered the company's profitability and strengthened the national budget outlook.
The dividend increase is driven by higher profits resulting from the recent surge in global crude oil prices.
Malaysia expects its petroleum-related revenue to reach $15 billion, or 61.2 billion Malaysian ringgits, in 2027.