Company to review Canada LNG project after government decision Malaysian energy firm sticks to $30/bbl 2016 price assumption Petroliam Nasional Bhd., Malaysia’s state oil company, said profit dropped 96 percent last quarter after it was hit by oil prices that remained sharply lower than a year earlier. Net income fell to 348 million ringgit ($86 million) in the three months through June, from 9.1 billion ringgit a year ago, the company said Monday. Revenue slid 21 percent to 48.4 billion ringgit. “The first half of 2016 remained difficult for Petronas,” Chief Executive Officer Wan Zulkiflee Wan Ariffin told reporters in Kuala Lumpur. “The continuous volatility of oil prices means that we cannot let up, but instead continue to grow on the back of better operational efficiencies, more controllable” spending on operations, he said. Petronas, as the company is known, said earlier this year a change in its business structure […]