KUALA LUMPUR, June 10 — Petroliam Nasional Bhd has set aside a higher capital expenditure of nearly RM60 billion for the financial year ending Dec 31, 2022 , of which 10 per cent will be spent on non-traditional spaces such as specialty chemicals and solar energy to achieve its net-zero carbon emissions target by 2050.
"So, we need to deliberate in terms of our capital allocation decision, and set it aside... because if we just leave it and let them go with the flow, then we will be one year behind all over again,” she said at a virtual MIDF Conversations session with MIDF group managing director Datuk Charon Mokhzani yesterday.
On the current soaring crude oil prices, Liza said Petronas remains prudent in terms of predicting the crude oil prices and would stick to the fundamental price of US$50-60 per barrel in the long run. Meanwhile, Liza agreed that the weakening ringgit against the greenback, coupled with the high crude oil prices, had given a double bonanza for the oil and gas giant thus far.