Petronas splits exploration, production unit to enhance ownership, accountability


Hey, as long as my slice of the pie is bigger, slice and dice as much as you like.

Dateline 2014-04-09, The Star:

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 ShellExxonMobil and Total had done recently.

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

The move is said to be part of a plan by Petronas to concentrate more on its domestic and international roles that require different skill sets, considering that it competes internationally with oil giants, whereas locally, it is the owner of the hydrocarbon deposits.

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