Cloudy view for energy giant Petronas


Dateline 2017-05-25, Asia Times:

Oil and gas wealth drove Malaysia’s go-go modernization during the 1980s and 1990s, with state oil firm Petronas emerging as one of Asia’s most profitable companies. That success was reflected its shiny iconic twin towers, once the world’s tallest, in downtown Kuala Lumpur.

But after more than two years of stubbornly low global oil prices, with prices falling from a per barrel high of US$145 in 2008 to a low of US$26 in 2016, Petronas is struggling to maintain its prominence as one of the world’s largest exporters of liquefied natural gas (LNG).

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