PETALING JAYA: Petronas’s rightsizing efforts are aimed at ensuring the national oil company can sustain its contribution to nation-building, its president and CEO, Tengku Muhammad Taufik Aziz, said today.
Calling it a long overdue process, he said the evolving dynamics of the global oil and gas sector require Petronas to reinvent itself to remain future-ready.
Advertisement“Petronas is a national oil company, but it has always operated as an international oil company. And our competitors have made such tough decisions as well,” Bernama quoted him as saying at an editors’ briefing today.
Petronas currently has a workforce of 52,000, including 16,000 core enablers.
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“For the other international oil companies it is about 12%-13%,” he said.
AdvertisementHe said that to continue contributing to nation-building, which means investing and expanding into green energy, Petronas must have the right talent to meet evolving client demands.
Since its establishment, Petronas has contributed RM1.5 trillion in dividends, state sales tax, cash payments, export duties, and payment to the national trust fund.
AdvertisementTengku Taufik said Petronas will face a limited future if it does not take the “bitter pill” measures now.
