Outlook not very rosy, says Petronas CEO

comments     Khairul Khalid     Published     Updated

KINIBIZ The overall outlook for the oil and gas industry is currently not very rosy due to the low prices of crude oil, Petronas president and group CEO Wan Zulkiflee Wan Ariffin says.

“The industry is still grappling with issues caused by the plummet of oil prices since last year,” Wan Zulkiflee said.

Nevertheless, Wan Zulkiflee ( right ) is optimistic that there are opportunities and silver linings within the current tough climate.

“What doesn’t kill you makes you stronger. We shouldn’t dwell on all the doom and gloom or we will get nowhere,” said Wan Zulkiflee.

The CEO said some of the key areas for Petronas will be proritising its key projects and diligently pushing its big ticket investments.

These large projects include the RM60 billion Refinery and Petrochemical Integrated Development (Rapid) project in Johor, the RM100 billion LNG (liquefied natural gas) project in Canada, RM8 billion acquisition of oil and gas assets in Azerbaijan as well as its floating liquefied natural gas (FLNG) facilities.

For the full story go to KINIBIZ .



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