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Petronas to cut capital, operational expenditure by up to RM20b in 2016

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A prolonged slump in oil prices whittled away Petronas's net profit by 56 per cent to RM21 billion for 2015, and necessitated RM18 billion in non-cash impairments.

Kuala Lumpur

MALAYSIA'S national oil company Petronas is aiming to cut an additional RM15 billion-RM20 billion (S$5 billion-S$6.7 billion) in capital and operational expenditure this year amid a prolonged slump in oil prices that whittled away its net profit by 56 per cent to RM21 billion

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