PETRONAS has reappointed McCann Worldgroup Malaysia to manage below-the-line duties after a pitch held in October 2018, A+M understands. McCann Worldgroup has been working on the account since 2016.
A+M has reached out to PETRONAS and McCann Worldgroup for comment. This comes after the oil and gas company picked IPG Mediabrands to handle above-the-line (ATL) duties following a pitch which also saw incumbents Leo Burnett and McCann Worldgroup vying for the account. Leo Burnett handled the ATL business for over 10 years.
PETRONAS Group recorded a year-on-year (yoy) 13% increase in group revenue for the fourth quarter ended 31 December 2018, from 61.8 billion to 69.9 billion. This was due to the impact of higher average realised prices recorded for all key products partially offset by the impact of lower sales volume mainly for LNG.
Its upstream revenue increased yoy from RM36.9 billion to RM44.8 billion in 2018, while downstream revenue increased yoy to RM34.2 billion from RM32.2 billion. Meanwhile for the whole year ended 31 December 2018, the group recorded a 12% increase in revenue at RM251.0 billion, as compared to the same period in 2017 of RM223.6 billion.