Petronas CEO Wan Zulkifli said about Efficiency

“This is a good window of opportunity for us to address all the inefficiencies that we have, within the organization and also the Malaysian oil and gas and industry.” Petronas will cut back some capex programs, he said, adding that it has already cut 23 per cent in operating expenditure. Wan Zul said his six-point strategy is as follows:

Cash generation. “What I mean by cash generation is our plants must be running tip-top, running all the time, we must sell our products at the best value we can get, so it has to be all across the value chain.”

Delivering on growth projects. “These include RAPID, floating LNG, more projects in Sabah and hopefully very soon the project in Canada. We need to deliver these projects well, no cost overruns and on time and with good health and safety levels.”

Striking down costs and simplification. “We are reviewing some of the processes that hit across the group.” These include HR, procurement and planning processes.

Investing in technology.

Talent management. “We are not cutting back on talent management spending, but I just want to be sure that the money is well spent and we spend in areas that we really need to spend. We are looking at how we can do this better.”

Improving work culture.“We are teaching the group starting with the senior staff on ways to improve our working culture.”

Wan Zul said oil and gas projects that have already been sanctioned will go ahead. But the company would also ask for rebidding for some of the packages in the RAPID project to reflect lower prices of raw materials. He said the cutback in Petronas capex would have an impact on service providers. “I think there has been retrenchment and downsizing within the service providers.”

“Today, if I look at the number of companies, I think the latest number is around 3,700 oil and gas service providers. But Norway has only about 700, which means many of our companies are small and the industry is very fragmented.

“We are encouraging consolidation. I know it is painful, but I think this is the way to go since by doing so the industry will be more efficient once we get over this challenging period.

Wan Zul said Petronas, with a 51,000-strong workforce, has no immediate plans to lay off its staff. He said some have been redeployed to RAPID.

He said Petronas would continue to hire new staff, but at a slower pace. “The hiring will continue, but maybe at a slower pace. We still need to bring in new people. We have not come to a point where we have to rightsize.”

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How to improve resources efficiency

All companies want to improve employee productivity, but how often do they examine their own management practices as a means of attaining it?  Studies consistently show that a disturbingly high number of non-management employees are disengaged, not working at full productive capacity.

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An innovative business solution


Today is a challenging day. Do you agree?

Businesses are adapting to volatility and uncertainty as a way of life. With the economic outlook and ever-widening range of threats continuing to test even the strongest organization, companies are facing a variety of challenges as they strive to find growth and stay competitive. From improving operational effectiveness, to expanding into new markets, we’re here to help.

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Desk Evolution from 1980 till 2015


How from the eighties till now our working instruments and habits are changed, visually, technologically and substantially.


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Turn Your Hobby into Income

Hey guy! How are you today?

Today is a great day to talk about your hobby that will generate you income. Walla! Surprise? Not anymore my friends. Why? Many have done it and become successful. So why aren’t we do it also? Because I do not know how, because it is impossible, because I am not capable, because I do not know where to starts….and the excuses can go on and on, and on and on.

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Many people start their businesses from something they enjoy doing as a pastime, says Maresa Ng, a business coach at ActionCOACH, an international business and executive coaching firm. “Some people enjoy arranging flowers and decide to starts a florist shop. Others like cooking and go into catering, like Chef Wan. I love speaking and mentoring people. So I decided to coach business owners,” say Ng a former banker.

Warning guys! Here’s the bad news. When you transform your hobby into a business, it is no longer your hobby. Then you have to work hard as other business people are doing, put more effort, put more time into it, and actually the amount of money you make has a direct correlation with the amount of time invested.

Here are two critical questions to ask before taking the next step. Be honest. The answers can either push you into starting a business or keeping your hobby as pastime.

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So my next question is Are You Ready? Share your thoughts with me here.

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