KUALA LUMPUR (Nikkei Markets) -- Malaysia's national oil and gas company Petroliam Nasional, or Petronas, said Friday it will spend more this year to boost production as well as explore new energy sources amid volatile oil prices.
The company may spend "slightly above" 50 billion ringgit ($12.22 billion) this year, Chief Executive Wan Zulkiflee Wan Ariffin said at earnings news conference. Petronas is starting work at its liquefied natural gas project in Canada, betting its long-term fortune on demand for natural gas, he said.
