Petronas splits exploration, production unit to enhance ownership, accountability

PETALING JAYA: Petroliam Nasional Bhd (Petronas) is splitting its exploration and production (E&P) division into domestic and international segments to make the businesses more focused and accountable, sources said, adding that the oil giant was benchmarking this move against what Shell, ExxonMobil and Total had done recently.

Previously, Petronas’ E&P unit had not clearly demarcated its international and domestic operations.