Petronas to rein in 2017 capex?


Dateline 2017-01-12, NST:

NATIONAL oil firm Petroliam Nasional Bhd (Petronas) is expected to rein in capital expenditure (capex) this year.

Hong Leong Investment Bank (HLIB) said despite the expected firmer oil prices this year, it would not bring about a significant catalyst for the local oil and gas (O&G) sector.

“It is not news that this year will be a better year for O&G market as the Organisation of the Petroleum Exporting Countries (Opec) has decided to reverse its decision to flood the market with its oil earlier in 2015.

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