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Friday, 5 May 2017

Allegation 2-Malaysia's Petronas addresses 2017.

* Petronas says oil prices to remain uncertain this year
* Holds to "conservative" outlook, plans to focus on cost-cuts
* Capital investment fell 22 pct last year, 2,300 jobs cut
* No decision yet on future of Canada LNG project -CEO
Image result for UPDATE 2-Malaysia's Petronas warns on 2017 outlook despite swing to Q4 profit
Amend  primary scaled Projects.
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 <IPO-ARMO.SE> 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.
"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.
($1 = 4.4460 ringgit)
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