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Petronas sets its sights on downstream amid a challenging cost environment

Mr Wan Zul says Petronas is leaner and better placed to handle a volatile oil market, focusing on costs, high-margin businesses and possibly new growth streams such as renewables.

Kuala Lumpur

WHEN Wan Zulkiflee Wan Ariffin took over as chief executive officer of Malaysian state energy firm Petronas in April 2015, the price of a barrel of Brent crude oil had tumbled to around US$55, half the level of the previous year.