SEPANG, 2 Okt -- Pelumba pasukan Mercedes AMG Petronas Lewis Hamilton berjalan kaki keluar trek selepas enjin jenteranya terbakar di selekoh pertama memasuki pusingan ke-41 pada Perlumbaan Formula One (F1) Petronas Malaysian Grand Prix bermua di Litar Antarabangsa Sepang, hari ini. --fotoBERNAMA (2016) HAK CIPTA TERPELIHARA
KUALA LUMPUR: Petroliam Nasional Bhd (Petronas) has already been adopting the Blue Ocean Strategy (BOS) in its operations and has reaped the benefits in terms of cost savings, chairman Tan Sri Mohd Sidek Hassan said.
He said Petronas believes the strategy is a great idea because it means doing things beyond the ordinary.
“Datuk Wan Zulkiflee (Petronas president and group chief executive Datuk Wan Zulkiflee Wan Ariffin), I believe deep in his heart, we didn’t call it Blue Ocean then, but he has implemented the strategy already.
“Through the Cost Reduction Alliance or CORAL programme, for example, we have managed to reduce much of our costs and have good return, in this very challenging oil and gas environment, and that is the implementation of the Blue Ocean Strategy in Petronas itself,” he told reporters on the sidelines of an exhibition at Galeri Petronas in Kuala Lumpur on Wednesday.
Mohd Sidek earlier launched Galeri Petronas’ latest exhibition titled Semangat 10: Visual Expressions of Southeast Asian Identity, which showcases the artworks of 24 prominent artists from 10 countries in the region.
He added that Petronas is supporting the Government initiatives by participating in the inaugural International Conference on Blue Ocean Strategy (ICBOS) in August this year and will continue implementing related strategies and ideas that are beyond the ordinary.
“In Petronas, upstream and downstream, and everywhere, we are collaborating. It is not the notion of I am upstream, and you are downstream, and we can’t collaborate,” he said, adding at the Petronas Twin Towers, Petrosains and Galeri Petronas can also collaborate.
The strategy has been implemented beyond the Petronas family, he said, citing the collaboration with the Royal Malaysian Police in June this year in the “Go-To-Safety-Points” programme, under which the public can go to a Petronas petrol station to seek help during emergencies.
With the Blue Ocean Strategy, he noted, Petronas’ third quarter 2016 earnings improved over the preceding quarter in some key metrics despite prolonged market challenges.
The oil giant’s pre-tax profit for the third quarter ended Sept 30, 2016 rose to RM8.01bil from RM3.90bil in the same quarter last year.
The better performance was attributed due to the group-wide efforts to reduce costs, improve efficiency in cash management and sustain world-class operational efficiencies as well as lower net impairment on assets and well costs.
The former Chief Secretary to the Government of Malaysia, Mohd Sidek, is known as a strong advocate of the strategy, and has played a pivotal role in introducing it as the National Blue Ocean Strategy (NBOS) for the country.
Through NBOS, over 80 ministries and agencies - from the police and military, to women, youth, and higher education organisations - are set to collaborate in the formulation and execution of creative Blue Ocean strategy initiatives in Malaysia’s bid to become an advanced nation by 2020.
On Galeri Petronas’ effort in organising many exhibitions, Mohd Sidek said: “I feel great that Petronas is associated beyond just economic and material wealth, but with culture and the arts, something that defines civilisation.” - Bernama
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