RUS | ENG | All
Enter the email or login, that you used for registration.
If you do not remember your password, simply leave this field blank and you will receive a new, along with a link to activate.

Not registered yet?
Welcome!

2016-03-03 18:50:00

PETRONAS CUTS $12 BLN, 1,000 JOBS

PETRONAS CUTS $12 BLN, 1,000 JOBS

Malaysia's state-run Petronas plans to reduce capital and operating expenditures by $12 billion over the next 3 years, starting with $3.6-4.8 billion in 2016. The move comes with a companywide reorganization that will result in about 1,000 redundancies.

Effective Apr. 1, executive leadership will in part comprise Datuk Wan Zulkiflee Wan Ariffin, president and group chief executive officer; Datuk Mohd Anuar Taib, executive vice-president and chief executive officer, upstream; and Md Arif Mahmood, executive vice-president and chief executive officer, downstream.

"Exhaustive efforts are ongoing to redeploy affected employees," the firm said, adding that it "will further embark on a separation exercise for these employees as needed, which is expected to be completed over the next 6 months."

Datuk Wan Zulkiflee noted the budget cuts will impact some of Petronas's capital projects. "At this point, we have taken the decision to rephase the Petronas Floating LNG 2 [(PFLNG2)] project (OGJ Online, Feb. 14, 2014), to be commissioned at a later date than originally planned," he said.

The 1.5-million tonnes/year PFLNG2, originally slated to begin production in 2018, is to be moored at Rotan gas field on deepwater Block H offshore Sabah.

ogj.com

-----

More: 

PETRONAS PLANS TO USE $5 BLN 

MALAYSIA: THE SECOND-LARGEST OF LNG 

PETRONAS CLOSES CANADA: $10 BLN 

YPF & PETRONAS AGREE 

EXXON SELLS MALAYSIA

 

 

Tags: PETRONAS, OIL, PRICE
Chronicle:
PETRONAS CUTS $12 BLN, 1,000 JOBS
2022, November, 30, 11:29:00
INTERNATIONAL CONGRESS AND EXIBITION TURKEY & BLACK SEA OIL AND GAS
International Congress and Exhibition Turkey & Black Sea Oil and Gas is an international, professional platform, bringing together over 200 C-suite executives from vertically integrated oil companies, general directors, CTOs of oil refineries, gas processing plants and petrochemical facilities, initiators of investment projects on oil and gas extraction from Turkey and countries of the Black Sea area, officials of regulatory authorities, licensors of production technologies and world suppliers for the industry.
PETRONAS CUTS $12 BLN, 1,000 JOBS
2022, November, 30, 11:28:00
TRANSPORTATION OIL AND GAS CONGRESS 2023 (TOGC 2023)
Transportation Oil and Gas Congress 2023 (TOGC 2023) takes place on February 20-21, 2023. The Congress brings together representatives from the whole pipeline chain and focuses on both strategic and technical issues of the oil and gas pipeline transportation.
PETRONAS CUTS $12 BLN, 1,000 JOBS
2022, November, 30, 11:27:00
9TH INTERNATIONAL LNG CONGRESS LNGCON 2023
9th International LNG Congress (LNGCON 2023) 6-7 March, 2023 Link to the Congress website: https://bit.ly/3tXVmr7
PETRONAS CUTS $12 BLN, 1,000 JOBS
2022, November, 30, 11:25:00
QATAR LNG FOR GERMANY
Qatar, one of the world's largest LNG exporters, has been courted by European countries, including Germany and the UK, in recent months as they seek improved gas supply security amid stubbornly high prices.
PETRONAS CUTS $12 BLN, 1,000 JOBS
2022, November, 30, 11:20:00
BRITAIN'S NUCLEAR INVESTMENT
The plan is for Sizewell C to feature two EPRs producing 3.2 GW of electricity, enough to power the equivalent of around six million homes.
PETRONAS CUTS $12 BLN, 1,000 JOBS
2022, November, 30, 11:15:00
CANADA'S SMR DEVELOPMENT
The ARC-100 has also been selected for a demonstration project at NB Power's existing Point Lepreau nuclear power plant site as part of a joint strategic plan for SMR deployment set out earlier this year by the provincial governments of Ontario, Saskatchewan, New Brunswick and Alberta Canada’s SMR Roadmap.
PETRONAS CUTS $12 BLN, 1,000 JOBS
2022, November, 30, 11:10:00
UZBEKISTAN'S URANIUM RISE
The new agreement lays the foundations of an "exclusive strategic alliance for the development of new uranium mines in Uzbekistan, beyond the Djengeldi project" and is a "significant broadening of the scope of the collaboration", Orano said.
All Publications »