PETRONAS says it is committed to deliver safe, sustainable energy solutions

PETRONAS, Malaysia’s state-owned oil and gas company, is undergoing a strategic transformation to become an agile, integrated energy company amid global pressures and challenges in maximizing its oil and gas resources. The company is committed to delivering safe, reliable, and sustainable energy solutions while evolving into a provider of lower-carbon energy options. To achieve this, PETRONAS plans a 10% workforce reduction, a decision described as “very difficult” but “necessary” to ensure continued growth and national service.

The company emphasizes fairness and transparency, with the process guided by a Transition Council and People Development Committees to ensure decisions are made “fairly, objectively, and systematically.” PETRONAS is engaging with the Ministry of Human Resources’ Department of Labour and Industrial Relations to meet statutory requirements.

Petronas and sustainable energy

Affected employees will receive a comprehensive transition program, including a “market-competitive separation package” exceeding minimum legal standards, career coaching, job search assistance, emotional support, medical assistance, upskilling/reskilling programs, and financial planning guidance. PETRONAS is also collaborating with PERKESO’s MyFutureJobs and government-linked companies for job placements and offering an Entrepreneurship Programme through PETRONAS Innovation Garage for those pursuing business ownership.

The transformation aims to enhance PETRONAS’ resilience and competitiveness in the energy transition, ensuring relevance through focused investments and a high-performing workforce.

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