After slashing capex, Petronas plans up to 30% cut in opex

PETALING JAYA: Petroliam Nasional Bhd (Petronas) is looking to make cuts in its operating expenditure (opex) by between 25% and 30% to preserve its profitablity as crude oil prices continue to tumble.

Sources said that the national oil company was reviewing its spending and was in the process of identifying where cuts could be made. Projects it has committed to from last year and in its budget are likely to continue.