ADVERTISEMENT

Petronas lifts Q4 capex spending


Wan Zulkiflee: The recent drop in oil prices demonstrates the volatile and cyclical nature of the industry.

Wan Zulkiflee: The recent drop in oil prices demonstrates the volatile and cyclical nature of the industry.

PETALING JAYA: Petroliam Nasional Bhd (Petronas) will raise capital expenditure (capex) spending in the last quarter of the year to lift production and increase capacity.

The national oil company, in a statement, said higher price of crude oil boosted third-quarter profit before tax by 26% to RM18.87bil compared with RM14.95bil in the corresponding period last year.

Oil & Gas , Corporate News , petronas

   

ADVERTISEMENT