PETRONAS Plays Up Technology, Efficiency Gains in Tough Times

Dateline 2015-06-01, Rigzone:

A change of guard at Malaysia’s national oil company (NOC) PETRONAS amid unfavorable oil price movements spells the start of a tighter fiscal regime, but instead of outright cost cutting, its new CEO is paying more emphasis on continued investment in differentiating technologies and increasing operational efficiencies.

Wan Zulkiflee Wan Ariffin understands as the new captain at Petroliam Nasional Berhad (PETRONAS), he needs to steer the company through a “drastic downturn” with market conditions completely reversing those of the reign of his predecessor, Shamsul Azhar Abbas.

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