NOT ENOUGH MONEY TO CARRY THROUGH? UNDERWHELMED PETRONAS TO STUDY CANADIAN APPROVAL FOR LNG PROJECT

KUALA LUMPUR – National oil company Petroliam Nasional Bhd (Petronas) will study the approval granted by the Canadian government for its liquefied natural gas (LNG) project on British Colombia’s Pacific Coast in the country.

“The announcement was just made this morning. We need time to look at the conditions and then have a review of the project, ” Petronas president and group chief executive officer Datuk Wan Zulkiflee Wan Ariffin said.

“I’ve not seen the details of the announcement yet,” he told reporters after officiating the Malaysia Oil & Gas Services Exhibition and Conference (MOGSEC 2016) here on Wednesday.

On speculation that there would be increase in job cuts by Petronas, Wan Zulkiflee said: “We always look at the business and opportunities to optimise cost-efficiencies.”

– ANN

.