Petronas cuts annual capex to RM40b-RM45b over next five years

Petronas cuts annual capex to RM40b-RM45b over next five years

26/2/2021 2:08:00 PM

Petronas cuts annual capex to RM40b-RM45b over next five years

The national oil company says the revision takes into account the projected global oil prices.

Senior vice president and group chief financial officer Liza Mustapha said the national oil company, which previously earmarked RM50 billion to RM60 billion annually for its capex, had revised the amount due to the projected global oil prices and industry outlook in the coming five years.

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