Petronas chief to see tenure extended, says report

 Tengku Muhammad Taufik Aziz has received a second extension as president, group CEO and executive director, according to a report in The Edge.

Petronas chief executive officer Tengku Muhammad Taufik Aziz’s tenure expired in July. (Bernama pic)

KUALA LUMPUR:

Petroliam Nasional Bhd. chief executive officer Tengku Muhammad Taufik Aziz is set to stay at the helm of Malaysia’s national oil company after his contract was extended, according to a report in The Edge.

Tengku Taufik received a second extension as president, group CEO and executive director following the expiry of his tenure in July, the newspaper reported, citing unnamed industry sources. The new contract may be for at least two years, it added.

Petronas declined to comment on the matter, according to The Edge.

The extension paves the way for continuity as Malaysia grapples with the energy crisis spurred by the Middle East conflict. The government is working to extend its energy supplies through December, with Petronas seeking additional fuel from overseas, including Africa, to bolster reserves.

Petronas is also currently locked in a constitutional battle with Sarawak over control of gas resources in Malaysia’s biggest and most resource-rich state. The state firm operates one of the world’s largest liquefied natural gas terminals in Sarawak, which also holds 70% of Malaysia’s gas reserves. - FMT