Petronas to review future capex on weak oil prices


Dateline 2014-11-18, NST:

PETROLIAM Nasional Bhd (PETRONAS) is reviewing its future capital expenditure (capex) in light of the declining oil price, said its executive vice-president and chief executive officer of upstream Datuk Wee Yiaw Hin.

The future capex could potentially be streamlined, he said at a media briefing on the upcoming eight International Petroleum Technology Conference (IPTC).

“Exploration and production (E&P) business is a long-term business, so volatility in oil price is something we need to manage.

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