Baku, Azerbaijan, Dec.21
By Leman Zeynalova - Trend:
Malaysia’s PETRONAS oil and gas company has announced that it will voluntarily adjust the country's crude oil output.
“Following the pact made in Vienna, Austria on Dec.10, 2016 between OPEC and non-OPEC producers, PETRONAS will make a voluntary adjustment to Malaysia’s crude oil production starting from January 2017,” said the message posted on the company’s website.
This voluntary adjustment, taking into consideration prevailing market conditions and prospects, is expected to involve up to 20,000 barrels per day of crude oil from the country’s 2016 average production, said the company.
PETRONAS owns a 15.5-percent stake in the project for development of Azerbaijan’s Shah Deniz gas field and in the South Caucasus gas pipeline project.
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