What mega projects?
Dateline 2015-11-15, NST:
PETRONAS president and group chief executive officer (CEO) Datuk Wan Zulkiflee Wan Ariffin often talked about the need for oil and gas companies to “recalibrate” themselves in the midst of the oil and gas price doldrums.
With the global energy market outlook remaining hazy, companies, including Petronas, have to stick with a prudent and conservative budget. Managing cash flow is the main priority.
Announcing Petronas’s third-quarter financial results last week, the affable Wan Zul was frank when speaking about the challenges facing Petronas and the industry. \
But, did Petronas overextend itself with three mega oil and gas projects, as some have suggested?
Analysts and senior oil executives disagree, saying Petronas needs to invest for the future to take advantage of any industry upturn.