PETRONAS, a Malaysian state-owned oil and gas major has posted a 24% year-on-year rise in its earnings before interest, tax, depreciation and amortisation (EBITDA) coming from sustained growth in demand for oil on the back of strong global economic expansion particularly in China and India. Revenue was up 21.2% to M$223.1 with PETRONAS profit after tax rose 31%. However, PETRONAS suffers drop in revenue for its petrochemical business segment nearly 7% due to decrease in production volumes from 9.8m tonnes to 9.3m tonnes.
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Energy singularity means a point where our source of energy is almost infinite, coming from the renewable sources and completely accessible to everyone on the planet.
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