December 18, 2015
Dateline 2015-11-12, Platts:
Malaysia’s state-owned Petronas remained committed to its capital expenditure plans even though it anticipated continuing challenges due to bearish market sentiment, CEO Wan Zulkiflee Wan Ariffin said Wednesday.
The projects that the company will focus its capital investment on include the Refinery And Petrochemical Integrated Development project in the southern Johor state; the Pacific North West LNG Project in Canada; LNG Train 9 in Bintulu; and the two floating LNG projects being constructed in South Korea.
“These capex projects are investments for the long term, and we are set on seeing them through successfully to ensure Petronas’ sustainability well into the future,” Wan Zulkiflee said in a statement while announcing the company’s Q3 2015 results.
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Posted by Wata
December 1, 2015
And us small fry are caught in the mating motions of giants.
Dateline 2015-10-19, Seatrade Maritime News:
Malaysian oil and gas (O&G) industry leaders called for sector consolidation amid a highly competitive environment and soft crude oil prices, local reports said.
Industry players have said there is a need for the highly fragmented 3,700 O&G service companies and eight fabrication yards in the country to amalgamate to emerge stronger to compete with the best in the Asean region. Notably, the call came from among the biggest players in the industry.
UMW Oil & Gas president Rohaizad Darus reportedly agreed with Petronas president and group ceo Wan Zulkiflee Wan Ariffin’s exhortation for the fragmented and congested market to consolidate imminently.
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Posted by Wata
November 26, 2015
Dateline 2015-10-14, NST:
AMERICAN industrialist, oilman, and at one time, the country’s richest private citizen, John Paul Getty, was once asked of attributes to his success. He said: “rise early, work hard, strike oil.”
Just as bankers know beyond any doubt that they will be around as long as the sun rises in the east and sets in the west, oilmen like Petronas president and group chief executive Datuk Wan Zulkiflee Wan Ariffin whom this newspaper spoke to last week, knew that for as long as the world’s insatiable demand for energy continues, the company has a future. The challenge is in managing it properly.
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Posted by Wata
November 22, 2015
Dateline 2015-10-13, NST:
Wan Zul speaks on the Petronas venture in British Columbia, RAPID Pengerang, and investment in new technologies in the second and final part of the wide-ranging interview with the Business Times.
Q: What is the level now in terms of upstream in other countries?
A: The bigger ones in terms of gas would be a Turkmenistan, Egypt, Myanmar, Canada, Indonesia, Australia and Azerbaijan. For oil it would be Sudan, Chad and, of course, Iraq.
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Posted by Wata
November 15, 2015
Dateline 2015-10-12, NST:
Acknowledging that the current global oil price doldrums could be prolonged, Petronas hasmapped out a six-point strategy to help the oil giant tide over the trying times and to stay profitable.
Outlining his game plan, Petronas president and group chief executive officer Datuk Wan Zulkiflee Wan Ariffin said it would weed out inefficiencies, manage costs, cut back some capital expenditure and seek more revenue.
In an exclusive interview with the New Straits Times, his first with the media since assuming his job on April 1, Wan Zul said his set of challenges were markedly different from his predecessors.
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Posted by Wata
September 20, 2015
Dateline 2015-08-17, Platts:
Malaysia’s state-owned Petronas posted stronger refining margins in the second quarter and saw a near 3.5% growth in crude, condensate and natural gas production, but warned of tougher times ahead as it sees little scope of oil prices recovering in the second half of the year.
Petronas CEO Wan Zulkiflee Wan Ariffin said the acquisition of a 47% stake in Malaysian Refining Company late last year helped the company to boost its refining margins to “double digits” in the quarter that ended on June 30, from about $8/b in the previous quarter.
“As a result of the increased capacity through this acquisition, we could post stronger refining margins,” Wan Zulkiflee told reporters while announcing the company’s Q2 results in Kuala Lumpur.
“But there is a confluence of events that is not supporting high oil prices,” he said. “There is a chronic oversupply situation. Therefore, we expect oil prices will remain depressed for the rest of the year.”
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Posted by Wata
July 12, 2015
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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Posted by Wata
June 19, 2015
As if this is new news.
Dateline 2015-05-18, ST:
Malaysia’s state-owned oil and gas company Petronas is delaying the start-up of its huge RAPID refining and petrochemical complex in the southern state of Johor until mid-2019, back from early that year, its top executive said on Monday.
“For the refinery, the start up will be middle of 2019. That is the current schedule,” President and Group Chief Executive Officer Wan Zulkiflee Wan Ariffin said on the sidelines of the Asia Oil and Gas Conference in Kuala Lumpur.
All of the engineering, procurement and construction contracts have been awarded for the refinery, while the petrochemical plant is still being tendered, he said.
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Posted by Wata
June 16, 2015
Dateline 2015-05-18, NST:
The oil and gas industry should leverage on the opportunities posed by the current low oil price environment, and prepare itself for when the global market recovers, says Petroliam Nasional Bhd (Petronas) president and group chief executive officer Datuk Wan Zulkiflee Wan Ariffin.
“Following the repercussion of the oil price drop, companies scrambled to relook their business processes and cost structures in frantic efforts to drive down expenditures.
“This presents an opportunity in itself, if we view it not only as a stop-gap measure, but take the effort to ensure that processes and cost structures are redesigned for simplicity, and to support long term lower operating costs and higher efficiency.
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Posted by Wata
April 10, 2015
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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Posted by Wata
Wata - Malaysian Oil and Gas Engineer 