Petronas may slash domestic investment 30 pct as crude slumps -sources


Dateline 2015-01-07, Reuters:

Malaysian state oil firm Petronas may slash capital expenditure even more than it has signalled because the continuing rout in oil prices has hurt revenue, with domestic spending facing cuts of about 30 percent, sources said on Wednesday.

Some domestic and international projects that may become unprofitable due to the continued decline in oil prices could be shelved by Petronas, or Petroliam Nasional Bhd, three sources with knowledge of the matter said.

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