Petronas Expects oil prices to remain uncertain and that it will continue to pursue lower costs.

Petronas have one of the Major projects despite swing to Q4 profit.

Petronas is involved in two major projects, one at home and one in Canada, even amid its aggressive spending cuts.

·         Petronas' finances got a boost last month when Saudi Aramco agreed to invest $7 billion in its Refinery and Petrochemical Integrated Development (RAPID) project that is slated to cost $27 billion.

·         CEO Wan Zulkiflee said Petronas has still not made a decision on the future of its other big project, a liquefied natural gas (LNG) export terminal in western Canada, and that it was studying conditions set forth by regulators.

Canada approved the $27 billion Pacific NorthWest LNG project in September after a three-year wait, but included conditions to limit its environmental impact.

o   "We are looking at all options how to develop an LNG plant that will be very competitive among other North American LNG plants ... We will take our time," Wan Zulkiflee said.

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