Kuala lumpur: Petron Malaysia Refining and Marketing Bhd has announced a net loss of RM35.04 million for the first quarter ended March 31, 2026, in comparison to a net profit of RM81.03 million in the corresponding quarter of the previous year.

According to BERNAMA News Agency, the company attributed this loss primarily to the absence of production as the Port Dickson Refinery remained non-operational following the collapse of its product jetty during tropical storm Senyar in November 2025. The ongoing West Asia war, which began in March 2026, further disrupted oil supply and market prices, resulting in increased supply costs.

Petron's revenue for the quarter under review decreased to RM2.94 billion from RM3.67 billion in the first quarter of 2025, largely due to a decline in sales volume. Total sales volume dropped by 25 percent to 6.9 million barrels in the absence of exports, a direct effect of the refinery shutdown.

Despite these challenges, the company maintained the supply of controlled products such as gasoline, diesel, and liquefied petroleum gas in the domestic market by transitioning to full importation and local purchases. The surge in crude prices caused a tightening of refined product sourcing from the region, further impacting supply costs.

Looking ahead, Petron has initiated limited and intermittent refinery operations to process existing 'in-tank' crude inventories, aiming to supplement market product availability as part of its commitment to national energy security. The company is working to resolve operational constraints, including securing crude supply for more stable refinery operations while awaiting the construction of a new replacement jetty. Petron expressed optimism about potential improvements in market conditions and its operational capabilities moving forward.