Petronas May Need to Raise Debt, Tap Cash Amid Oil's Slump
- Malaysia state oil company sees Brent averaging $30 this year
- Company to announce new organization structure this week
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Petroliam Nasional Bhd., Malaysia’s state oil company, said it may need to raise debt and tap its cash reserves to cover capital expenditures and dividend payments to the government.
The company reported its third loss in five quarters as oil’s collapse curbed revenue. The net loss was 4.7 billion ringgit ($1.1 billion) in the three months through December, compared with a loss of 9.9 billion ringgit a year ago, the company said Monday. Revenue fell 24 percent to 60.1 billion ringgit.