Asia’s largest oil companies are set to join their global peers in slashing investment plans for 2015 in response to the slump in oil prices, putting production growth in jeopardy in the energy-hungry region. Malaysia’s Petroliam Nasional Bhd., known as Petronas, has warned of double-digit percentage cuts in capital spending this year, while China’s Cnooc Ltd. and PetroChina Ltd. could reduce spending by a similar amount, people briefed by the companies said. Indonesia’s Pertamina said last week it could cut its investment by up to 50% this year. In all, Asian state-run oil-and-gas companies—which in the recent past have spent around $120 billion a year, accounting for nearly one-fifth of annual sector investment world-wide—could cut capital spending by between 15% and 30% in 2015, according to several experts. Meanwhile, major developments planned […]