Core Insights - Petronas has reported a profit decline for the third consecutive year, primarily due to lower oil prices impacting margins [1] - The company’s profit after tax for 2025 was 45.4 billion ringgit ($11.68 billion), down from 55.1 billion ringgit in 2024, while revenue decreased to 266.1 billion ringgit ($68.44 billion) from 320 billion ringgit [1] Financial Performance - Profit after tax for 2025: 45.4 billion ringgit ($11.68 billion) compared to 55.1 billion ringgit in 2024 [1] - Revenue for 2025: 266.1 billion ringgit ($68.44 billion), down from 320 billion ringgit [1] - Capital investments fell to 41.6 billion ringgit in 2025 from 54.2 billion ringgit in 2024 [1] Business Strategy - Petronas aims to focus on building resilience by strengthening its core hydrocarbons portfolio and expanding new businesses while managing emissions [1] - The company plans to allocate 2 billion ringgit annually for exploration over the next five years [1] Dividend and Government Contribution - Petronas paid 32 billion ringgit in dividends to the Malaysian government last year and expects to pay 20 billion ringgit this year, the lowest since 2017 [1] - The dividend payment is contingent on the company's cash flow situation [1] Emissions and Environmental Impact - Petronas reported a 2.2% increase in carbon emissions in 2025 to 56.95 million tons of CO2 equivalent, mainly due to operational changes [1] - The company achieved a 72% reduction in methane emissions, surpassing its target of 50% [1] Market Outlook - Crude oil prices are expected to remain stable between $65-$70 per barrel over the next five years [1] - The CEO indicated that margin erosion is expected to continue due to cost inflation and softening prices [1]

Core Insights - W.W. Grainger (GWW) demonstrates strong operating performance as a leading MRO distributor, gaining market share in the U.S. while effectively managing margin erosion in a challenging environment [1] Company Performance - Grainger continues to leverage its scale to limit margin erosion, indicating effective operational strategies amidst market challenges [1]