November 28, 2022
Read between the lines.. CORAL ’23?
Dateline 2022-09-13, The Sun:
Oil & gas (O&G) players need to work together as stakeholders in the system to address the power crisis by providing clean, reliable, affordable energy, according to Petroliam Nasional Bhd (Petronas) president and group CEO Tengku Muhammad Taufik.
“What we are seeing today is an energy crisis, a food crisis, an inflation crisis and if left unchecked, all of these will converge into what we cannot contend with, which is a world security crisis,” he said in his keynote address at the Oil & Gas Asia (OGA) 2022, the Malaysia Oil & Gas Services Exhibition and Conference (Mogsec) and Petrochemicals Sustainability Conference (PSC) today.
November 25, 2022
Dateline 2022-09-13, The Edge:
Oil and gas (O&G) industry players need to come together to tackle issues of the energy and climate crisis, according to Petroliam Nasional Bhd (Petronas) president and group chief executive officer Datuk Tengku Muhammad Taufik Tengku Aziz.
“The [O&G] industry has a responsibility to respond to energy issues, which are considered an aggressive trilemma of affordability, security and sustainability,” Tengku Muhammad Taufik said in his keynote address during the opening ceremony of the Oil & Gas Asia 2022, with the Malaysia Oil & Gas Services Exhibition and Conference and the Petrochemicals Sustainability Conference, on Tuesday (Sept 13).
September 25, 2021
Dateline 2021-09-09, The Edge:
NATIONAL oil company Petroliam Nasional Bhd (Petronas) is going through a period of transition, and could undertake asset divestments, acquisitions into new businesses and other corporate exercises — all of which could dampen earnings in the near term at least.
These changes come at a time when the global economy is being ravaged by the effects of the Covid-19 pandemic and there is a shift away from oil as a source of fuel as environmental, social and governance (ESG) awareness makes cleaner options more desirable. Electric cars are catching on, threatening to sideline internal combustion engines.
“There is one very aggressive consultancy that has told us [oil is going to peak] in the next one or two years. Yes, that soon, mainly because of the convergence of all the OEM (original equipment manufacturer) carmakers,” says Petronas president and group CEO Tengku Muhammad Taufik, in explaining the challenging outlook.
December 29, 2020
Dateline 2020-12-19, The Edge:
On the 83rd floor of the Petronas Twin Towers last week, Tengku Muhammad Taufik Tengku Aziz, the president and CEO of Petroliam Nasional Bhd (Petronas), met up with The Edge for a two-and-a-half-hour session, the longest thus far any CEO of the oil company has had with us.
And the hours seemed to pass quickly with humorous exchanges and banter, but all questions were answered and peppered with facts on the oil company and its direction. It was a frank and good interview.
November 27, 2020
Dateline 2020-11-06, Petroleum Intelligence Weekly:
Tengku Muhammad Taufik was appointed CEO of Petronas in July 2020 as the Covid-19 crisis was taking its toll on the global energy industry, forcing oil companies to rethink both short- and long-term planning due to concerns about future demand. He discussed the Malaysian state oil company’s strategy for dealing with the pandemic and the low-carbon energy transition at this year’s Energy Intelligence Forum. Select excerpts follow below.
Q: How is the company tackling the short-term demand uncertainty, the safety issues stemming from the coronavirus, and all these talks of the energy transition?
A: Within the corridors of Petronas we call this the “great reset,” and I do not think it is an understatement as many have described the confluence of events as unprecedented. We believe that the industry’s shape, structure, and behavior will be impacted long into the future by this pandemic. There needs to be both a short-term response as well as a medium to long-term strategy. In the short-term, we must address as an ultimate priority the safety and health of our employees.
November 25, 2020
Dateline 2020-11-03, Argus (not Argos):
Malaysian oil and gas producer Petronas has announced an aspiration to achieve net-zero emissions by 2050, making it the first state-owned Asian energy company to set such a goal.
“We are making this commitment to make a positive change — not only to ride the energy transition — but because a fundamental shift is needed and the organisation wants to be part of the solution, for the world that yearns for a path towards a more sustainable future,” Petronas chief executive Tengku Muhammad Taufik said.
November 19, 2020
Dateline 2020-10-28, S&P Global:
Malaysia’s state-run Petronas will be pursuing most of its oil and gas projects, but by using more cost-effective and cleaner processes, as it strongly believes that those fuels will have a major role to play for the next three decades at least, CEO Tengku Muhammad Taufik told the India Energy Forum by CERAWeek Oct. 28.
“Even in the most green of scenarios, oil and gas will still constitute half of the energy basket. We still believe there is life in this business — and not only life, there is promise in it. The only harsh thing is that we need to produce it more cost effectively and cleaner,” he said.
Taufik said that Petronas was carefully looking at its upstream portfolios in about 20 countries to ensure that they delivered value and were cost effective at $40/b — the company’s medium-to-long-term average oil price outlook. In addition, the projects needed to work on containing emissions.
October 7, 2020
Hahahahahahahahahaha (snort). Seriously, pigs have been equipped with jetpacks already?
Dateline 2020-09-04, Malay Mail:
National oil company, Petroliam Nasional Bhd (Petronas) says dividend payout to the government this year will depend on its affordability in light of the plunging oil prices and Covid-19 pandemic, which has taken a toll on its financial performance.
President and group chief executive officer Tengku Muhammad Taufik Tengku Aziz said Petronas’ year-end results would be the guidance to set the expectation and the group would have to deliberate on the board subject to the company’s affordability.
He also stressed that there is no pressure from the government on it given the unprecedented challenges that oil and gas companies were facing.
“This industry is volatile and like other oil and gas companies, the shareholders will tend not seeing so much returns.
June 23, 2020
So, a change of guard to prevent a tarnished image of the old beloved Great Leader, as the new Great Leader slashes and hashes to meet the bottom line of the Malaysian Beloved Leader?
Dateline 2020-06-06, Financial Post:
(Bloomberg) — Malaysian Prime Minister Muhyiddin Yassin appointed a new chief executive officer at national oil company Petroliam Nasional Bhd., replacing a veteran of almost four decades with the chief financial officer.
Petronas’ President and CEO Wan Zulkiflee Wan Ariffin will become chairman of Malaysia Airlines Bhd., the premier said in a statement on Saturday. He will be replaced by Tengku Muhammad Taufik Tengku Aziz. Both appointments are effective July 1.