Petronas cuts petrochem output

Its petrochemical plants produce polymers and resins that are used to manufacture plastic

consumers items.

Mohd Hassan, who was speaking to reporters on the sidelines of an oil conference in Kuala Lumpur yesterday, said Petronas will not cut its planned investments.

"We are very lowly-geared. We have sufficient internal funds to fund the projects. We have both the funds and capacity to borrow," he said.

On the impact of lower oil prices, Mohd Hassan said it is natural for any oil companies to suffer a slight dent in revenue.

Petronas has also not finalised its decision on a gas project in Iran. In July, he said that this was due to rising costs and because it had not finalised talks with the Iranians.