A RM22 billion write down, due to the oil price slump, wipes out Petronas’ profits in 4Q14, turning it into RM7.3 billion losses. It also hangs big question marks on the future of Petronas’ overseas ventures, such as the RM100 bil Canadian LNG project.
Petronas sucker punched by RM22 bil impairment
www.kinibiz.com
A RM22 billion write down, due to the oil price slump, wipes out Petronas’ profits in 4Q14, turning it into RM7.3 billion losses. It also hangs big question marks on the future of Petronas’ overseas ventures, such as the RM100 bil Canadian LNG project.
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