Leaner Petronas to focus on select markets
CEO says its assets under constant review; major spending this year will be on Johor project
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Kuala Lumpur
MALAYSIAN state energy firm Petronas will focus on a few select markets for expansion, its CEO told Reuters, as it positions itself as a leaner and meaner company for a medium-term period of relatively low oil prices.
Hurt by a slump in oil prices, Petroliam Nasional Berhad has cut its costs and its spending, deferring some projects in an effort to help profitability in a tough energy market.
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