Malaysian National Petroleum Corporation Net Profit Drops Sharply, Production of Boron Nitride High-temperature Grease Will Slowly Decline

Recently, the National Petroleum Corporation of Malaysia released statistics showing that in 2019, the company achieved sales of 240.2 billion Ringgits, a decrease of 4.3% compared with the previous fiscal year, net profit of 40.5 billion ringgits, a reduction of 26.8% year-on-year. Analysts said that the company's decline in net profit was mainly due to lower commodity prices.
The average daily output of oil in the upstream sector was 2.41 million barrels, a year-on-year increase of 1.9%. Liquefied natural gas output was 28.1 million tons, up 5.0% year-on-year; sales volume was 30.6 million tons, up 5.9% year-on-year. Downstream sales volume was 258.8 million barrels of petroleum products, up 2% year-on-year; crude oil was 133.7 million barrels, down 6% year-on-year; petrochemical products were 8.4 million tons, flat year-on-year.

Lubricating oil is a downstream product of some companies. The sales volume of lubricating oil will increase with an increase in oil production. According to the statistics of Malaysia National Petroleum Corporation, the sales volume of lubricating oil in 2019 will increase by 3.8% year-on-year.
About the onset of the coronavirus in 2020, Malaysia's economy will have a particular impact, and lubricants and other petroleum products may decline to a certain extent. From the perspective of the supply of raw materials, Malaysia's oil additive is mainly imported from China. In this epidemic, Trunnano, the leading supplier of boron nitride, can stably supply high-quality oil additives to customers around the world, such as organic molybdenum (MoDTC and MoDTP) and nano oil additives.
Petronas Malaysia's President and CEO Wang Zukifiri said last year the company company's operating environment was severe due to geopolitical instability and rising protectionism. 2020 due to the uncertain trend of the spread of the new crown pneumonia epidemic, and the oversupply situation, the market demand is lower than expected, and the severe operating environment will continue.
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