Industry analysts and consultants say Petronas is in talk with other foreign investors. Project economicsOthers, however, caution that RAPID may not make sense for China, which already has enough refineries to meet even its huge oil thirst. In early 2016, Petronas said it would cut spending by up to 50 billion ringgit (US$11.27 billion) over the next four years. With the questions hanging over RAPID, Petronas may be forced to re-think the Canada project. "RAPID will still come online, it's just there is a greater financial burden on Petronas now," said Peter Lee, an oil and gas analyst at BMI Research.

Source: The Edge Markets January 27, 2017 12:20 UTC