Medco Energi refines spending plans

The Indonesian oil and gas company re-tweaks its capital expenditure plans and mulls cheap Singapore dollar bond as lower oil prices threaten profitability

The recent plummet in crude prices have prompted oil companies to re-tweak their investment plans. Indonesia-based oil and gas company Medco Energi Internasional is no exception to this phenomenon.

Medco is readjusting its capital expenditure plans for the year, trimming investments made in the exploration of oil and gas, Lany Wong, chief financial officer of Medco told FinanceAsia in Jakarta.

The company is focusing instead on growing its existing business, monetising new projects that are about to begin full commercial operations whilst at the same time, looking for cheaper sources of funding.

“The current low oil price environment mutually drives all oil and...

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