Press Statement on Job Cuts

In reference to New Straits Times’ article on Saturday, 17 January 2015 titled “PETRONAS trimming expenditure”, PETRONAS would like to clarify that the report was misreported and inaccurate.

PETRONAS will make Capital Expenditure (CAPEX) deferments and reductions in Operational Expenditure (OPEX) in response to the recent steep 60% decline in oil prices. The deferments would reflect the change of environment in the global oil and gas industry to ensure its resilience through the low oil price period.

Issued by

Media Relations, External Communication
Group Strategic Communications
PETRONAS