Bringing Petronas forward

The next big one for Petronas, says Wan Zulkiflee, is the LNG project in Canada, which will require a large capex of about US$5bil (RM21bil) a year up until 2024. “This doesn’t mean we are abandoning Malaysia, but as an O&G company, we have to follow the hydrocarbon resources," he said.

THE tenure of Petroliam Nasional Bhd (Petronas) president and CEO Tan Sri Wan Zulkiflee Wan Ariffin has been interesting, to say the least, ever since he took on the job in April 2015.

By the time he took over the reins of Petronas, the price of crude oil had waved goodbye to the over-US$100-a-barrel figure most of the industry players had been gorging on. Cost within the industry had ballooned and the collapse of oil prices was pressuring profitability. An industry overhaul ensued, with staff layoffs and cost-cutting measures prominently headlining industry news.

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