Is it more politically correct for PETRONAS to term its 5k headcount downsizing as 'right-sizing'?
THAT PETRONAS intends to right-size its workforce by laying off by 10% or 5,000 staff and freeze recruitment until end-2026 has earned the wrath of PAS information chief Fadhli Shaari who claimed that the power that be is unperturbed so long as it can continue milking the RM32 bil annual dividend.
Moreover, the Pasir Mas MP preferred to reason it from the perspective of the PETRONAS- Petroleum Sarawak Bhd (PETROS) feud although he state-owned oil & gas (O&G) giant's president and group CEO Tengku Tan Sri Muhammad Taufik has attributed the drastic measure to slumping global crude oil prices.
'I've raised this issue many times – in Parliament and outside Parliament. On Nov 13 last year, I asked in the House (Dewan Rakyat) about the direction of negotiations between PETRONAS and PETROS,' recounted Fadhli on his Facebook page.
'Minister in the Prime Minister's Department (Law and Institutional Reform) Datuk Seri Azalina Othman Said replied that national interests would be prioritised.
'I've no problem with PETROS but our question is what will happen to PETRONAS after this? Who will defend the 'mother' of all assets in our country?
As it is, PETRONAS and PETROS have been locking horns for more than a year now over the role of gas aggregator in the state. A resolution was supposed to have been reached on July 1, 2024 but the deadline was extended to Oct 1, 2024. Yet almost a year later, a resolution still seems elusive.
On this account, Sarawak is challenging PETRONAS' hold over Malaysia's O&G reserves as stated in the Petroleum Development Act (PDA) of 1974 which gives the former control of all of Malaysia's hydrocarbon reserves.
This is given Sarawak holds about 60% of Malaysia's gas reserves and accounts for 90% of Malaysia's liquefied natural gas (LNG) exports – attributes that have led the state-controlled PETROS to clamour for the sole aggregator's role.
Hefty dividend payout
Aside from the PETRONAS-PETROS drag, Fadhli also blamed the government's incessant dependency on PETRONAS dividends despite its falling profits, likening such tendency to 'a stupid and rash act akin to slaughtering the goose that lays the golden eggs'.
'What will happen now? The PETRONAS CEO himself said that if we don't 'rightsize' now, PETRONAS may disappear in 10 years,' wondered the PAS lawmaker who yesterday (June 5) demanded transparency on PETRONAS' operations after the purported sale of its Canadian subsidiary.
'But PMX and the gang are still proud to claim that investors are confident, the economy is strong, everything is supposedly under control. What stability is there if a company as big as PETRONAS has to embark on cost-saving to the extent of laying off its workers?' fumed Fadhli.
'Sadder still, there're thousands of workers to be laid off yet there's no sign of the government's plan to help them – there's no aid package nor re-employment plan. The minister is also silent as if nothing is happening.'
Added the former PAS Youth chief:
'Even if this is not a sign of negligence in the management of the country's economy, do we really want to wait until PETRONAS collapses before we regret it?
'It seems that the PMX administration has lost its direction. Take a break first, focus on the Yusuf Rawther lawsuit. The country will be ruined if it continues like this.' – June 6, 2025
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Barnama
43 minutes ago
- Barnama
Top News Headlines In Indonesia, Laos, Myanmar, Singapore & Vietnam: June 23, 2025
The Indonesian government has strongly condemned a Canadian-based website for listing several islands within Indonesia's territory for sale, declaring the practice illegal and misleading. Minister of Agrarian Affairs and Spatial Planning Nusron Wahid said Sunday that no private ownership or sale of entire islands is permitted under Indonesian law, following reports that Private Islands Inc., a website based in Ontario, Canada, was advertising islands in Indonesia to international buyers. State asset fund Danantara is stepping in to provide capital support for state-owned enterprises (SOEs), marking a shift away from direct state-funded injections. While the move is expected to ease the fiscal burden, experts have raised concerns about a potential lack of transparency. MEKONG RIVER ENVIRONMENT -- VIENTIANE TIMES The United Kingdom and the Mekong River Commission partnership will strengthen climate resilience efforts and improve water resource management in Laos. The partnership will enhance regional climate adaptation, water governance, and biodiversity protection. This will benefit communities across the Lower Mekong Basin. 2. LAO TO BE SELF-SUFFICIENT ECONOMY -- VIENTIANE TIMES Prime Minister Sonexay Siphandone urged provinces to increase domestic food production and reduce imports. The move is to promote a self-reliant economy and transition from a consumer society to a production-oriented market. MYANMAR FOR LOWLAND COFFEE GROWERS -- THE GLOBAL NEW LIGHT OF MYANMAR The government will provide technology to families interested in growing coffee on a small scale or for commercial purposes in lowland areas where coffee is widely grown. Authorities are trying to promote more lowland organic coffee cultivation, mostly robusta and liberica varieties. EXPERTS TO FIX DAMAGED BUILDINGS -- THE GLOBAL NEW LIGHT OF MYANMAR Chinese cultural heritage preservation experts have completed the inspection of ancient buildings damaged by the earthquake in the Mandalay region. They also discussed with Myanmar authorities regarding renovation of damaged heritage buildings, repair processes and long-term plans. SINGAPORE 1.'SAFETY FOREMOST IN OUR MINDS': FAISHAL IBRAHIM REASSURES SINGAPOREAN STUDENTS IN THE MIDDLE EAST -- THE STRAITS TIMES The Government is monitoring developments in the Middle East closely and is working with the Islamic Religious Council of Singapore (Muis) and the Ministry of Foreign Affairs to remain in touch with Singaporean students in the region. THREATENS US BASES IN RESPONSE TO STRIKES ON NUCLEAR SITES -- CNA/AFP Iran on Sunday (Jun 22) threatened US bases in the Middle East after massive air strikes that Washington said had destroyed Tehran's nuclear programme, though some officials cautioned that the extent of damage was unclear. VIETNAM POLICY OFFERS HIGHER LOANS FOR FARMERS -- VIETNAMPLUS Farmers are allowed to borrow up to about RM51,000 (US$12,000) starting July 1 without any collateral. The new policy is to promote agriculture and rural development and also simplifies loan applications for farming communities. CHI MINH TO HOST TAEKWONDO TOURNAMENT -- VIETNAMPLUS Vietnam will host the international CJ 2025 Taekwondo Tournament in Ho Chi Minh City from June 26–29. This is the first time that Vietnam is holding a G1-level tournament where more than 100 athletes from 15 countries will participate. -- BERNAMA BERNAMA provides up-to-date authentic and comprehensive news and information which are disseminated via BERNAMA Wires; BERNAMA TV on Astro 502, unifi TV 631 and MYTV 121 channels and BERNAMA Radio on FM93.9 (Klang Valley), FM107.5 (Johor Bahru), FM107.9 (Kota Kinabalu) and FM100.9 (Kuching) frequencies. Follow us on social media : Facebook : @bernamaofficial, @bernamatv, @bernamaradio Twitter : @ @BernamaTV, @bernamaradio Instagram : @bernamaofficial, @bernamatvofficial, @bernamaradioofficial TikTok : @bernamaofficial
The Star
12 hours ago
- The Star
Sarawak holds potential as Malaysia, Asean energy hub, says PM Anwar
Sarawak Yang di-Pertua Negeri Tun Dr Wan Junaidi Tuanku Jaafar and his wife Toh Puan Fauziah Mohd Sanusi, along with Prime Minister Datuk Seri Anwar Ibrahim and Sarawak Premier Tan Sri Abang Johari Openg, being served a welcome drink called "apat paman" upon arriving at the state Gawai dinner in Kuching. – ZULAZHAR SHEBLEE / The Star KUCHING: Sarawak has the potential to become the main energy hub for Malaysia and Asean, says Prime Minister Datuk Seri Anwar Ibrahim. He said Sarawak could play a key role in the Asean Power Grid initiative with its rich energy resources, including hydropower, gas and hydrogen. "The Asean Power Grid will enable energy interconnections between member states "Sarawak's energy potential can be expanded to Sabah, Kalimantan and southern Philippines," he said at the state Gawai dinner here on Sunday (June 22) night. Anwar said he would bring up this matter in an informal meeting with Indonesian president Prabowo Subianto next Friday (June 27). "I have informed (Sarawak Premier Tan Sri) Abang Johari (Openg) that I will discuss an Asean Power Grid based in Sarawak for the benefit of both countries," he said. Sarawak Yang di-Pertua Negeri Tun Dr Wan Junaidi Tuanku Jaafar and his wife Toh Puan Fauziah Mohd Sanusi were the guests of honour at the dinner. Also present were Sarawak Premier Tan Sri Abang Johari Openg, Deputy Prime Minister Datuk Seri Dr Ahmad Zahid Hamidi, Selangor Mentri Besar Datuk Seri Amirudin Shari and federal and state dignitaries. The Prime Minister also said the good relations between the Federal and Sarawak governments formed a strong basis for resolving issues. In this respect, he said PETRONAS and state-owned Petroleum Sarawak Bhd (Petros) would move forward on the issue of gas distribution in the interests of both the nation and the state. "The oil and gas industry needs PETRONAS and Sarawak needs Petros. We need both to work together for Sarawak and the nation," he said. Earlier, Abang Johari said Sarawak was ready to contribute to the Asean Power Grid. "We hope the vision of the Asean Power Grid will be realised as a catalyst for economic growth in the region," he said.
The Star
12 hours ago
- The Star
Asean News Headlines at 10pm on Sunday (June 22 , 2025)
Malaysia: * PM Anwar urges global push to end Israeli aggression, violence in Middle East * New IGP not linked to any political party, say PDRM * Malaysians evacuated from Iran to arrive at KLIA tonight / PAS condemns US attack on Iran * Umno to consider resolution seeking Hishammuddin's reinstatement * Nurul Izzah calls for immediate govt action to combat online child sexual exploitation * Perak MB: No tremors detected during boom * Education an effective approach to address drug issue, says Deputy Minister * Sultan Kedah attends 83rd birthday parade * M'sia-US tariff negotiations on track, says Tengku Zafrul * Five suspects released as Brickfields shooting investigation continues * Duped: Penang insurance agent loses RM1.49mil to online investment scam * Don't accept party-hoppers, Khaled Nordin says to unity government allies * Giving refugees the right to work a win-win for Malaysia, says MEF * Perak leads in domestic tourism for 2024 with 10.2 million visitors * Ringgit to hover around RM4.24 to RM4.25 and expected to stay defensive due to Middle East conflict * Bursa Malaysia to remain cautious, CI to trade within the 1,500-1,500 range beginning from Monday (June 23) People take part in a rally in support of the Palestinian people in Banda Aceh on Sunday, June 22, 2025, amid the ongoing conflict between Israel and Palestinian Hamas militant group. -- Photo by CHAIDEER MAHYUDDIN / AFP Singapore: * 41-year-old cyclist dies after accident with car in Singapore's Bugis * Rising star singer Camila Cabello's Aug 12 concert in Singapore cancelled * Singapore: New team of police officers first to be equipped with off-road vehicles, drones on patrol * Suspected storage fire oil spillage threatens Straits of Tebrau, authorities take immediate action * Singapore's Lawrence Wong heads to China for first official visit as PM * Singaporeans look to recreate slice of home in San Francisco Bay Area to mark SG60 * Investors brace for oil price spike after US bombs Iran nuclear sites * Chinese student jailed for 24 years for raping women in UK and China Indonesia: * Indonesia's Prabowo says he wants more Russian involvement in his country's economy * Japan's high-tech sunscreens tap into skincare craze; Indonesia among nations where new factories will be set up * House yet to decide on Gibran impeachment petition * Indonesia confirms US aircraft carrier USS Nimitz's passage through Straits of Melaka * Jakarta welcomes new age with global ambitions * Prabowo denies G7 snub in Russia visit Naveen Meghwal from Indian Consulate performs yoga on International Day of Yoga in Nusa Dua, Bali, Indonesia. -- AP Photo/Firdia Lisnawati Thailand: * Thailand eyes greater share of booming global halal market worth US$3.1 trillion by 2027 * 'No reason for Paetongtarn to resign and dissolve the Parliament', says Thai ruling party * Thai PM Paetongtarn claims she has coalition support after resignation calls * Chong Sai Taku crossing closed after provocative act by Cambodian tourists: Thai 2nd Army chief * Thai PM to intensify crackdown on scammers and cybercrime at country's borders * Three bomb blasts at Thailand's Pattani Red Cross fair injure vendors and police officers Philippines: * Philippines urges Filipinos in Israel, Iran to leave as conflict escalates and US now bombing Iran * Why Filipinos see politicians as the top source of disinformation * Watchdog: US strikes on Iran's nuclear sites released no radiation * Rains force canyoneering in Philippines' Alegria and Kawasan Falls' operation to be suspended for now * De Lima sees 'game plan' in fast Ombudsman action on VP Sara Duterte case Dancers prepare to perform during the Eksotika Bromo cultural event near Mount Bromo in Probolinggo, in East Java. -- Photo by JUNI KRISWANTO / AFP Vietnam: * Vietnamese dancer shines on the world stage; bags third place in world championships * Central banks in Asia are becoming wary of currency intervention * Once a beauty queen, Vietnamese lass wins full scholarship to study data science in China * Vietnam tops medal at South-East Asia Karate Federation Championship which concluded in Brunei * Torrential rain triggers severe flooding, landslides in Vietnam's northern region Myanmar: * 25,500 liters of controlled chemicals seized in Myanmar * Humanity crying out for peace, pope says after US strikes Iran * Myanmar people find joy in greening the earth * Junta battles guerillas for control of jade hub Dancers prepare to perform during the Eksotika Bromo cultural event near Mount Bromo in Probolinggo, in East Java.-- Photo by JUNI KRISWANTO / AFP Cambodia: * Cambodia's Hun Manet retaliates by closing two checkpoints after Thai army shuts one * Defence Minister: Cambodia won't invade, lacks jets to reach Bangkok * Cambodians rush to stockpile Thai fuel and bottled water after Hun Sen's announcement * Middle-aged man in Cambodia dies of H5N1 bird flu Laos: * Britain and Mekong River Comission partnership to boost climate resilience in Laos and Asean region * Laos' Luang Prabang ready to sparkle as Mekong Tourism Forum kicks off next week * Laos approves cost-cutting road policy to boost infrastructure Brunei: * Brunei aligns with Asean vision for inclusive, future-ready education * Asean guideline sets regional standards for victim protection * Brunei conducts firefighting exercise at its iconic water village Dancers seen performing during the Eksotika Bromo cultural event near Mount Bromo in Probolinggo, in East Java.-- Photo by JUNI KRISWANTO / AFP AseanPlus: * Anti-corruption rally KK ends with controversy after attendees burn huge placard * Hire local TVET grads first before foreign workers, Johari tells plantations * Perak leads in domestic tourism for 2024 with 10.2 million visitors * Rape suspect escapes from Sibu police station * Man nabbed at KLIA trying to smuggle four gibbons to India * 16 hurt, building hit in Israel after Iran launches missiles * Trump says US 'obliterates' Iran nuclear sites, Tehran reserves 'all options' to defend itself * How Dongtan in South Korea turned into an online punching bag * C-drama star Li Yitong and singer-actor Liu Yuning lead the way in China's latest fantasy offering in 'A Dream Within A Dream' * Japan's Shinmoedake volcano erupts, alert level remains at two * Japanese astronaut finds ISS commander role highly rewarding; due to return to Earth in July * Indian pilgrimages to China's Xizang resume after five-year hiatus * Anti-dumping duties on CRC imports from China, Japan to be maintained * Trump says US launched 'very successful' attack on Iran nuclear sites * Iran warns US against involvement in Israeli strikes, urges return to diplomacy * Japan to provide defence equipment to Thailand, seven other nations * Suga is last BTS member to complete mandatory military service * Tracking the rail-ly glorious transformation of China * Japan's Kansai Airport sinking due to subsidence issues * China urges officials to rein in overzealous dining austerity measures * Japan spots Chinese ships near disputed isles for record 216 straight days * Hong Kong to relax rules for converting hotels into university student hostels * Power fully restored in flood-hit South China county after emergency response * US Federal judge allows Harvard University to continue hosting foreign students * China's Victory Day rehearsal leaks show stealth jets, massive air formations * Seoul seeks to minimise fallout from US strikes on Iran * India arrests two for harbouring Kashmir attackers * China 'strongly condemns' US strikes on Iran: foreign ministry * China urges US to 'look at the whole picture' on tariffs to see true trade ties * London police charge seven Iranians with assault after embassy incident * Paris Hilton buys US$63mil Beverly Park mansion from Chinese billionaire's family after losing Malibu home in wildfire * Badminton - Liu Ying gives thumbs up to RTG for providing pros their own training 'home' * Badminton - Para Games - Liek Hou battles pain to regain Asian singles para title after 13 years * Cricket-Pope proves his worth as England number three in super Test series against India * Hockey - Sarjit to quit if Malaysia fails to qualify for World Cup next year * Hockey - NZ thrash Pakistan 6-2 to win Nations Cup, book spot in FIH Pro League
