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Petronas to cut spending by RM50b over 4 years and defer projects

Kuala Lumpur

PETROLIAM Nasional Bhd (Petronas) is planning to slash spending by as much as RM50 billion (S$16.3 billion) over the next four years, as a slump in oil prices to multi-year lows pinches profits of the Malaysian state firm.

Petronas - which brings in nearly half of