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Just announced by Petronas President (in Petronas Intranet):

“Just a note….

PETRONAS is in deep trouble after the Brent Oil price slides down to USD28/bbl yesterday.

PETRONAS is to cut another RM50 billion CAPEX & OPEX for the next 4 years starting now. More projects will be cancelled.

PETRONAS will announce in March 2016 of a re-Organization of business entities, salary cut ranging from 20% to 30% (top management) across board and possible 4 days working week as well.

Manpower Supply contract staff and direct hired contract staff will be reduced.”

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