Petronas Dagangan Bhd
has allocated RM500mil for capital expenditure (capex) this year, with a substantial portion of the amount to be used for the construction of between 60 and 70 new service stations.
As the persistently high oil prices start to hit profit margins, its managing director and chief executive officer Ibrahim Marsidi said the company would continue pursuing a growth strategy to better its 39% local market share in petroleum products and invest in higher yielding businesses.
