Malaysian oil and gas company Petronas has reported a rise in revenues for the current financial year but a drop in net profits of $15.3bn for the fiscal 2009, down 15.5% from last year.

The company reported revenues of $77bn for the fiscal 2009, up 16.3%, compared with revenues of $66.2bn in the previous year.

Revenue from international operations surpassed the MYR100bn mark to MYR111.3bn.

Profit before taxation recorded a decline of 6.7% to MYR89.1bn due to the low-price and high-cost environment that persisted during the second half of the financial year, the company said in a statement.

The company’s export revenue represents about 16% of Malaysia’s total exports.