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Belt tightening, spending cuts expected at Petronas

Future grim as slumping crude prices continue to batter earnings

HAZY OUTLOOK: Petronas says it will cut its 2016 dividend to the government by almost 40 per cent to RM16 billion.

Kuala Lumpur

MALAYSIAN oil giant Petronas is expected to announce further spending cuts next week as it braces for earnings battered by the slump in crude prices that is also pressuring its global peers.

The grim outlook for state-owned Petroliam Nasional Bhd puts more pressure on...