PETRONAS to Keep Staff Size Despite Lower Profits
Malaysia's national oil company Petroliam Nasional Berhad (PETRONAS) has no intention to retrench any of its 50,000 local and overseas staff given the firm's planned projects over the next five years, a deputy minister told the country's parliament, local daily The Star reported Wednesday.
"I can give the assurance that the estimated 50,000 staff employed here and in operations abroad would be maintained ... If we cut jobs, it would affect PETRONAS' operations," Deputy Minister in the Prime Minister's Department Razali Ibrahim said in the Dewan Rakyat.
The planned cutbacks in PETRONAS' expenditures -- 15 percent for capital spending and between 15 and 30 percent for operational expenditure over the next five years -- would have no impact on the size of its workforce even as lower oil prices hurt the company's profitability.
"In fact, PETRONAS needs personnel to better operate here and its international operations," he said, as quoted by The Star.
WHAT DO YOU THINK?
Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.
Operates 11 Offshore Rigs
- After Europe's Gas Market Disasters, LNG May Come to the Rescue (Dec 12)
- Petronas Unit Agrees Share Swap With Shell's Africa Operator (Dec 05)
- Malaysia's Petronas Asked To Exit Myanmar In Protest Of Rohingya Crisis (Nov 08)