November 24, 2006	Friday	Ziqa'ad 2, 1427

KUALA LUMPUR, Nov 23: Malaysian state oil firm Petronas on Thursday posted a 20.6 per cent rise in half-year net profit on the back of high oil prices.

Petronas said its net income to September 30 was at 27.27 billion ringgit ($7.5 billion) compared to 22.6 billion ringgit in the same period last year.

Total revenue was 88.85 billion ringgit compared to 80.87 billion in the previous corresponding period, according to figures released on the company's website.

Higher crude oil prices due to strong demand from China and India, as well as uncertainties in the Middle East, saw Petronas post a record profit of 47.68 billion ringgit for the year to March.

Crude oil prices reached all time peaks above $78 in July and August.

Petronas is the only Malaysian company to be listed in the Fortune Global 500 list of the world's biggest firms.

The company separately announced on Thursday its wholly-owned subsidiary Petronas International Corporation Limited had acquired 10 per cent of Cairn India Limited, an oil and gas company.—AFP