Petronas in crisis?

By Khairul Khalid

Petronas’ latest financial results, although not entirely  surprising, was still jaw dropping – its first quarterly loss since it  started reporting results publicly. In this first of two article, KiniBiz asks if this is just a temporary blip, or  possibly the makings of a full-blown crisis? In part two we look at the RM22 billion write down, due to the oil price slump, which 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.