MALAYSIA’S PETRONAS SAYS COMMITTED TO CAPEX PLANS DESPITE CONTINUING CHALLENGES


Dateline 2015-11-12, Platts:

Malaysia’s state-owned Petronas remained committed to its capital expenditure plans even though it anticipated continuing challenges due to bearish market sentiment, CEO Wan Zulkiflee Wan Ariffin said Wednesday.

The projects that the company will focus its capital investment on include the Refinery And Petrochemical Integrated Development project in the southern Johor state; the Pacific North West LNG Project in Canada; LNG Train 9 in Bintulu; and the two floating LNG projects being constructed in South Korea.

“These capex projects are investments for the long term, and we are set on seeing them through successfully to ensure Petronas’ sustainability well into the future,” Wan Zulkiflee said in a statement while announcing the company’s Q3 2015 results.

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