Oil and gas players should remain vigilant: Petronas

Dateline 2018-03-20, NST:

Oil and gas players should keep the operating costs in check and continue to remain vigilant as the industry outlook remains uncertain.

Petroliam Nasional Bhd (Petronas) president and chief executive officer Tan Sri Wan Zulkiflee Wan Ariffin said it is imperative to continue to be vigilant in maintaining cost discipline and drive for efficiency.

“There is a concern here that with the oil price recovery, costs are showing signs of increasing at a worrying rate. This is likely being driven by a premature exuberance among industry players.

“If we do not keep these escalating costs in check, the industry as a whole runs the risk of negating the value we have gained from intensive cost-efficiency efforts over the last three years,” he said during his address at the Offshore Technology Conference 2018 (OTCAsia 2018).


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