Petronas to ease oil output

Petronas to ease oil output

KUALA LUMPUR (AFP): Malaysia's national oil corporation, Petroliam Nasional Bhd. (Petronas) reportedly said yesterday it would reduce crude oil production in 1996 as it upgraded the output of condensates and natural gas.

Crude oil output would be cut by 20,000 barrels per day (bpd) to 650,000 bpd this year, Petronas chief executive Mohamed Hassan Marican was reported saying by Bernama news agency.

Petronas' production of crude oil and condensates would total 710,000 bpd this year against 700,000 bpd last year, Hassan said.