Petronas may incur a write-off for pulling back from the ambitious gas pipeline project in Canada. But it had no other options, as the environment is not right for the project.
WHEN Datuk Wan Zulkiflee Wan Ariffin took over as president and chief executive of Petroliam Nasional Bhd (Petronas) two years ago, the biggest challenge he faced was to balance the cashflow of the national oil and gas company with its capital expenditure (capex).
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