Was this after or before the CORAL 2.0 initiative announcement? And what is this 10% reduction capex rubbish? I have been referred to the 30% reduction memo.
Dateline 2015-03-10, The Borneo Post:
Significant cost rationalisation in the Malaysian oil and gas sector is expected by analysts to improve operating efficiency.
According to the research arm of MIDF Amanah Investment Bank Bhd (MIDF Research), most, if not all, global oil and gas producers including Petroliam Nasional Bhd (Petronas) have reiterated that there will be significant cost rationalisation in 2015 and beyond.
“Petronas was quoted in the media indicating that it will be reducing capital expenditures by -10 per cent and operating expenditures by approximately -25 per cent to -30 per cent,” MIDF Research said.