OTCPK:PDPYF - Post by User
Comment by
lifeundergradon Aug 23, 2016 12:08pm
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Post# 25167986
RE:Petronas profit drops 94%
RE:Petronas profit drops 94%"Petronas is planning to lower capital and operating expenditure by as much as 20 billion ringgit in 2016, with a planned reduction of 50 billion ringgit over four years, Wan Zulkiflee said in February. While Petronas has said that it may need to
raise debt and tap its cash reserves to cover spending and dividend payments to the government, no debt-raising has been planned so far, Chief Financial Officer George Ratilal said Monday."
"https://www.bloomberg.com/news/articles/2016-08-22/petronas-posts-96-quarterly-profit-decline-on-lower-oil-prices"
Petronas is going to lower capex/opex by ~5bil USD over the next year and 12bil USD over 4 years. How and where do they want to trim back? If they need short-term performance to help prop up the economy...does finishing a very expensive, long-term project make sense, or would better short-term returns be found elsewhere in this depressed market?