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Petronas to cut spending by RM50b over 4 years and defer projects
Published Tue, Jan 19, 2016 · 09:50 PM
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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 Malaysia's oil revenue - made the announcement on the cuts in an internal m…
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