Petronas Cuts Annual Capex To Rm40b Rm45b Over Next Five Years


 


Petroliam Nasional Bhd (Petronas) has further reduced its allocation of capital expenditure (capex) to between RM40 billion and RM45 billion per annum for the next five years.
Senior vice president and group chief financial officer Liza Mustapha said the national oil company, which previously earmarked RM50 billion to RM60 billion annually for its capex, had revised the amount due to the projected global oil prices and industry outlook in the coming five years.
"Petronas also plans to spend a higher capex for domestic activities than the international programme. We will increase domestic spending to 55 percent (of capex), while international programme will be at 45 percent. In the previous allocation, spending stood at 52 percent domestic and 48 percent international," she said during a virtual press conference to announce the group's 2020 financial results in Kuala Lumpur today.
Previously, Petronas’ capex declined by 22 percent year-on-year, largely in line with the group’s earlier guidance of lower budgeted capex in the financial year ending Dec 31, 2020 (FY20), with most of expenditure being incurred upstream and in local investments.
Its president and group chief executive officer, Tengku Muhammad Taufik Tengku Aziz, said the company would move in the direction based on its portfolio and portfolio objectives and focus on speciality chemicals, renewable energy and hydrogen.
"We will increase the capex for renewable energy to nine percent out of the total FY21 capex from five percent previously, but it doesn't mean we are taking our foot off completely from exploration because production continues to be prepared for," he said.
Notably, gas and new energy is Petronas’ second-largest area of investment, taking up 22 percent of the group’s capex, possibly signalling the group’s acknowledgement of the energy transition trend.
“We are also charting the growth pathway to secure new opportunities amidst the acceleration in energy transition, especially from new and non-traditional areas.
"Although gas remains a crucial and cleaner source of fuel, diversification into renewable energy is imperative, with having the right skills and capabilities in place as part of the group’s retooling human capital effort," he said.
In a statement, Petronas said it would remain cautiously optimistic and was looking to future-proof its portfolio by venturing into new energy spaces and pursuing innovation with focused execution.
The group remains confident that its efforts and continued focus on commercial and operational excellence, while preserving healthy levels of liquidity, will ensure its business sustainability.
- Bernama


Artikel ini hanyalah simpanan cache dari url asal penulis yang berkebarangkalian sudah terlalu lama atau sudah dibuang :

http://malaysiansmustknowthetruth.blogspot.com/2021/02/petronas-cuts-annual-capex-to-rm40b.html?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+MalaysiansMustKnowTheTruth+%28Malaysians+Must

Kempen Promosi dan Iklan
Kami memerlukan jasa baik anda untuk menyokong kempen pengiklanan dalam website kami. Serba sedikit anda telah membantu kami untuk mengekalkan servis percuma aggregating ini kepada semua.

Anda juga boleh memberikan sumbangan anda kepada kami dengan menghubungi kami di sini
Govt Spv To Spearhead 5g Infrastructure Over 10 Years

Govt Spv To Spearhead 5g Infrastructure Over 10 Years

papar berkaitan - pada 23/2/2021 - jumlah : 436 hits
The provision of 5G infrastructure in the country will be led by a government owned entity or Government of Malaysia Special Purpose Vehicle regulated by the Malaysian Communications and Multimedia Commission In a statement today Communicat...
Cops Cripple Drug Ring With Biggest Bust In Five Years

Cops Cripple Drug Ring With Biggest Bust In Five Years

papar berkaitan - pada 2/3/2021 - jumlah : 401 hits
Narcotics squad chief Razarudin Husain with the drugs haul seized by police last Thursday GEORGE TOWN Police have crippled an international drug syndicate with the arrest of five men and the seizures of 623 76kg of syabu in several raids in...
Macc Arrests Perak Pkr Deputy Chief Over Probe

Macc Arrests Perak Pkr Deputy Chief Over Probe

papar berkaitan - pada 17/2/2021 - jumlah : 447 hits
The MACC arrested Perak PKR deputy chief MA Thinagaran this morning according to sources inside the party Malaysiakini learnt that the politician was nabbed by anti graft officers after he presented himself at their office to give a stateme...
Court Reinstates Muslim Teachers Suit Over Vernacular Schools

Court Reinstates Muslim Teachers Suit Over Vernacular Schools

papar berkaitan - pada 17/2/2021 - jumlah : 299 hits
The court in Kota Bharu has resintated the challenge against vernacular schools which was struck off in October last year PETALING JAYA The High Court in Kota Bharu today allowed an application to reinstate a suit filed by a Muslim teachers...
Info Chiefs At Odds Over How Umno Is Treated By Pn Ppbm Leaders

Info Chiefs At Odds Over How Umno Is Treated By Pn Ppbm Leaders

papar berkaitan - pada 17/2/2021 - jumlah : 326 hits
Wan Saiful Wan Jan with Shahril Hamdan and the moderator during the online forum organised by Sinar Harian today PETALING JAYA The information chiefs of Umno and PPBM were at odds over Umno s treatment by the Perikatan Nasional government w...
Tsitsipas Upsets Nadal Barty S Over For Aussie Hopes

Tsitsipas Upsets Nadal Barty S Over For Aussie Hopes

papar berkaitan - pada 18/2/2021 - jumlah : 272 hits
Australia 8217 s Ashleigh Barty waits as Czech Republic 8217 s Karolina Muchova receives medical attention during their women 8217 s singles quarter final match on day 10 of the Australian Open tennis tournament in Melbourne 8211 AFP photo ...
Court Rules Against Semelai Orang Asli Over Land Dispute

Court Rules Against Semelai Orang Asli Over Land Dispute

papar berkaitan - pada 17/2/2021 - jumlah : 437 hits
A group of Orang Asli villagers claiming customary rights over a plot of land in Bera Pahang which they have been living on for over a century was ordered to make way for a company tasked with clearing the land for oil palm cultivation This...
Pm Sends Letter Of Demand To Umno Man Over Quarantine Fb Post

Pm Sends Letter Of Demand To Umno Man Over Quarantine Fb Post

papar berkaitan - pada 17/2/2021 - jumlah : 253 hits
Umno supreme council member Mohd Puad Zarkashi s Facebook post alleging double standards in Covid 19 procedures has earned him a letter of demand from Prime Minister Muhyiddin Yassin according to a report Financial daily The Edge reported t...
Irresponsible Pkr Youth Slams Rais Over Lower Voting Age Comment

Irresponsible Pkr Youth Slams Rais Over Lower Voting Age Comment

papar berkaitan - pada 15/2/2021 - jumlah : 243 hits
The decision to amend Article 119 of the Federal Constitution to reduce the voting age to 18 from 21 was a bipartisan one which was unanimously agreed upon by all MPs and ratified by the Dewan Negara and thus it needs to be defended by Prim...
Pm Anwar Bersama Pengakap Semalaysia Di Johor

Wanita Maut Rempuh Kerbau Di Kuala Terengganu

Tak Sangka Dari Muda Sampai Ke Tua Tak Ada Idea Bijak Dan Bernas

Pretty Nina Minta Nuan Ngenang Baru Chord

Tak Ada Sarji Sarji Ya Amp Tak Akan Terjadi Berang Sering Dijodohkan Dengan Aisar Khaled Pelakon Indonesia Hilang Sabar

Dragon Char Koay Teow Sedap Boleh Tahan

Polis Minta Orang Ramai Henti Spekulasi Sebar Video Insiden Jpj Dan Warga Asing

Nadzmi Adhwa Sebak Rindu Ardell Tidur Susah Solat Susah Saya Yang Penat Tengok Dia


echo '';
Info Dan Sinopsis Drama Berepisod Dendam Seorang Madu Slot Tiara Astro Prima

10 Fakta Biodata Amira Othman Yang Digosip Dengan Fattah Amin Penyanyi Lagu Bila Nak Kahwin

5 Tips Macam Mana Nak Ajak Orang Kita Suka Dating Dengan Kita

Info Dan Sinopsis Drama Berepisod Keluarga Itu Slot Lestary TV3

Bolehkah Manusia Transgender Mencapai Klimaks Selepas Bertukar


Teknologi Yang Digunakan Oleh Influencer Malaysia Anda Pun Boleh Guna

Peran Orang Tua Dalam Mendidik Anak Menurut Al Qur An Dan As Sunnah

Absolut Bazaar X Festival Gaya Raya 2026 Kini Ke Pulau Pinang Brunei Dan London

Iphone 17 Dengan Ios 26 Berbaloi Ke Untuk Orang Malaysia

Iaman Kumpulan Saputra Dan Naqiu Juara The Chosen One Xtra Bawa Pulang Rm40 000

Bersatu Ada Penyakit Kronik Dakwa Mantan Setiausaha Presiden