New man Wan Zulkiflee to helm Petronas in challenging times


Dateline 2015-02-10, The Malay Mail (I loved the old printed editions):

Malaysia named Datuk Wan Zulkiflee Wan Ariffin, a long-time company veteran, to lead its state oil producer, handing him the job of dealing with the slump in crude prices that’s eating into revenue the government needs to narrow its budget deficit.

The plunge in the price of crude since June has left Malaysia exposed as oil and natural gas products make up about 22 per cent of exports. That means belt-tightening at the company, known as PETRONAS, and by extension, the government.

About 30 per cent of the government’s 225 billion ringgit revenue in 2014 was oil related, including a RM29 billion dividend from Petronas, according to the finance ministry.

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