Petronas exercises prudence


Dateline 2018-03-05, NST:

Even as oil prices have improved in recent months, national oil company Petroliam Nasional Bhd (Petronas) is maintaining a cautious outlook this year and warns against slipping into complacency.

Its president and group chief executive officer Tan Sri Wan Zulkiflee Wan Ariffin said Petronas has formulated its budget based on the assumption of oil price of below US$60 (RM236) per barrel.

“Some consultants have forecast higher than that, but then they change their forecasts every three months. Petronas cannot do that. We have to be more prudent,” he told editors at a briefing ahead of the group’s full-year results announcement, here, recently.

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