“Petronas is likely to maintain its spending on local capex (at RM26bill to RM28bil). However, some delays in projects are likely. Our base case assumes about RM50bil, but considering low oil prices, we believe Petronas could lower its total investment plans for 2020, ” S&P Global Ratings said.
KUALA LUMPUR: S&P Global Ratings expects large energy companies in South and Southeast Asia, including Petroliam Nasional Bhd (Petronas) to likely weather through low oil price and margins by tightening their financial policies.
It said on Wednesday these companies include Thailand's PTT Public Co. Ltd. (PTT; FC: BBB+/Stable/--; LC: A-/Negative/--), PTT Exploration and Production Public Co. Ltd. (PTTEP; FC: BBB+/Stable/--; LC: A-/Negative/--), PTT Global Chemical Public Co. Ltd. (GC; BBB+/Negative/--), Thai Oil Public Co. Ltd. (BBB+/Negative/--).
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