PETRONAS Job Cuts: Global Challenges, Not Petros Dispute, Says Malaysian Deputy PM

PETRONAS Job Cuts Due to Global Factors, Not Petros Dispute: Malaysian Deputy PM KUALA LUMPUR, MALAYSIA – June 8, 2025 – Deputy Prime Minister Fadillah Yusof has clarified that the recent job cuts at Petroliam Nasional Bhd (PETRONAS) are a result of global economic challenges and not related to any ongoing disputes with Petroleum Sarawak Bhd (Petros). This statement comes in response to recent public concerns and speculation regarding the relationship between the two companies. "The restructuring process is necessary given the current downturn in global crude oil prices," said Fadillah Yusof in a recent press conference. He further stated that he plans to meet with PETRONAS to obtain further details about the restructuring and explore ways to mitigate the impact on affected employees. PETRONAS President and CEO, Tan Sri Tengku Muhammad Taufik Tengku Aziz, also commented on the matter, confirming that the company will be reducing its workforce by approximately 10% to navigate the challenging operating conditions. He emphasized that this decision was made in response to the global decline in oil prices. The Malaysian government has also been involved, reaching an understanding with state governments on the matter. This collaboration aims to ensure a smooth transition for affected workers and to minimize any negative consequences for the national economy. The focus is now on supporting those losing their jobs and ensuring the long-term stability of PETRONAS and the nation's energy sector.