Shell Refining Company Posts After-Tax Profit of RM7 Million for Fourth Quarter 2012
Shell Refining Company (Federation of Malaya) Berhad (the "Company") today announced an after-tax profit of RM7 million for the fourth quarter of 2012, compared to after-tax profit of RM106 million in the previous quarter. This brings the full year performance of 2012 to a RM94 million after-tax loss, compared to an after-tax loss of RM126 million in 2011.
27 February 2013
Additionally, the Company has proposed a final dividend of 15 sen per share for the financial year under review.
The board explained that the fourth quarter after-tax profit was mainly due to improved operational performance and refining margin. The Company will continue to pursue operational excellence, proactive margin improvement and cost effectiveness whilst maintaining a strong Health, Safety and Environment performance.
In the fourth quarter of 2012, the refinery processed 9.8 million barrels of crude oil and sold 10.3 million barrels of product.
Commenting on prospects for the current year, Iain Lo, Chairman, Shell Refining Company, said: "The refinery's key focus areas are to improve its financial and operational performance including ensuring processing flexibility, cost competitiveness and high plant reliability. The refinery is also focusing on the expected completion and commissioning of its new diesel processing unit in Q1 2013 to improve crude flexibility and upgrade products."
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Note to Editors
Shell Refining Company (Federation of Malaya) Berhad was formed in 1960 as a public listed company. It currently has 49% public participation and 51% held by Shell Overseas Holding Limited. The Company is the key petroleum products supplier to Shell Downstream businesses in Malaysia. The oil refinery at Port Dickson has a licensed production capacity of 156,000 barrels per day and produces a comprehensive range of petroleum products, some 90% of which are consumed within Malaysia.