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.