KUALA LUMPUR: Malaysia’s state-owned oil company is banking on the Americas to help raise reserves and maintain production rates as wells in its South-East Asian home market continue their natural declines.
Petroliam Nasional Bhd (Petronas) will allocate a larger share of its future capital expenditure toward projects stretching from Canada to Brazil as oil prices recover from the 2014 crash and as the company completes a US$27bil (RM111.6bil) refinery and petrochemicals project at home, chief executive officer Tan Sri Wan Zulkiflee Wan Ariffin (pic) said.
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