IN FOCUS: Oil giant Petronas’ existential challenge holds deep implications for Malaysia
Government
Petronas’ business model is under threat and its monopoly over Malaysia’s hydrocarbon reserves is being challenged by the Sarawak state government. This will have wide economic and political ramifications for the country, say observers. KUALA LUMPUR: Petroliam Nasional Berhad (Petronas), the overlord and custodian of Malaysia’s hydrocarbon reserves, is under siege. Already bruised by industry-wide headwinds of weak global oil prices and lower quality oil fields in more difficult geological
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