Malaysia’s state-oil firm Petroliam Nasional Bhd., or Petronas, is planning to slash as much as 50 billion ringgit ($11.4 billion) in capital and operating expenditure over the next four years, according to an internal memo sent to staff by its chief financial officer. The plan comes as the continuing rout in oil prices has hurt major oil companies world-wide, with the price of Brent crude tumbling to $28 a barrel on Friday . The slide could spell a further drop in Petronas’s revenue and earnings as some domestic and international projects may become unprofitable. Petronas is the Malaysian government’s biggest source of revenue , covering as much as one third of the annual budget—even after cuts in subsidies and the introduction of new taxes to diversify sources of income. Malaysian Prime Minister Najib Razak , whose current budget was based on a $48 price for Brent crude, […]