KUALA LUMPUR: Petroliam Nasional Bhd (Petronas) expects the low oil price environment to persist, with prices hovering at around US$64 to US$65 per barrel, said executive vice president and chief executive officer (CEO) of upstream business Mohd Jukris Abdul Wahab. (US$1=RM4.24)
He said the national oil company is reviewing its operational and cost efficiencies in response to the low-price environment, and challenging how it approaches everything -- from maintenance, field operations, logistics management and procurement to the running of its offshore and onshore facilities.
