Come one, Exxon, Shell, and Roc Oil. Step in, all fill the shoes up. Unfortunately, IGL doesn't have a fiduciary responsibility to bail out its clients.
When Malaysian oil giant Petronas announced sharp spending cuts and described a dismal outlook this week, it was confirmation for millions that they will struggle to make ends meet this year amid high costs, a plunging currency and fewer jobs.
The country's only Fortune 500 company, state-owned Petroliam Nasional Bhd drove Malaysia's modernisation push in the last two decades that was symbolically crowned by its construction of the world's tallest twin towers in the heart of Kuala Lumpur.
But as the oil boom turns to bust, Petronas ― and with it Southeast Asia's third-largest economy ― is slowing down, and Malaysians are bracing for hard times. The company is one of Malaysia's biggest employers, and accounts for nearly a third of the government's oil and gas-related revenue.
This entry was posted on Tuesday, March 15th, 2016 at 6:30 am and is filed under Malaysia, oil and gas.	You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.