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Petronas to cut expenditure by RM15b to RM20b for 2016


Petronas president and group chief executive officer Datuk Wan Zulkiflee Wan Ariffin

Petronas president and group chief executive officer Datuk Wan Zulkiflee Wan Ariffin

KUALA LUMPUR: Petroliam Nasional Bhd (Petronas) plans to reduce its capital expenditure (capex) and operational expenditure (opex) for 2016 by between RM15bil and RM20bil in due to the low crude oil prices.

President and group chief executive officer Datuk Wan Zulkiflee Wan Ariffin said the reduction would be part of the national oil company’s move to reduce the capex and opex by RM50bil over the next four years.

Corporate News , Oil & Gas

   

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