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Petronas cancels tender for billion-dollar project off Sarawak

Sustained dive in oil prices seen forcing Malaysian oil giant to slash as much as RM16b in capex

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Petronas' CEO Wan Zulkiflee Wan Ariffin has said at a recent results briefing that the company would take low oil prices as the new normal and "religiously review its portfolio on an on-going basis".

Singapore

PETRONAS has called off the tender for a key contract tied to the multi-billion Kasawari gas field development in Block SK316 off Sarawak, as Brent crude slipped under US$38 for the first time since 2008, challenging the economic viability of a project lined up during US$100 oil

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