PM is bik mama.. Hehe

Wah..they are going to let go perm staff..wow. Vss?

One of the factor definitely beside the RM factor

Just to share whats been around from watsapp:

PETRONAS, reimagining the future
============================

Datuk Wan Zulkiflee Wan Ariffin dijangkakan akan mengumumkan langkah drastik dalam usaha untuk mengurangkan kos demi kelangsungan Petronas sebagai satu-satunya syarikat Global Fortune 500 daripada Malaysia.

Ini juga berkait rapat dengan nasib sebilangan daripada 51000 kakitangan Petronas. Adakah Petronas juga akan mengikut langkah Shell, Murphy Oil, Exxon dan Schlumberger?

Apa yang jelas dalam memo dalaman yang lepas, Petronas akan membentangkan struktur baru organisasi. Natijahnya akan ada redundancy. Jika ada redundant maka salah seorang akan harus meninggalkan workstationnya.

Keputusan yang dibuat akan mengambil kira dua latarbelakang

RAPID
Harga minyak

Antara faktor yang boleh menyelamatkan pekerja Petronas di sektor upstream ialah projek RAPID di Penggerang Johor.

Bila siap beroperasi, RAPID akan memerlukan ramai pekerja, oleh itu kakitangan Petronas di Petronas Carigali boleh ditempatkan semula di RAPID nanti.

Seperti yang saya ulaskan dalam artikel terdahulu, di atas kertas nampak cantik, tetapi ada tiga hurdle kepada plan ini,

- Timing
- Downstream and Petrochemical Profit Margin Squeeze
- Non-transferable Skill

Yang paling mustahak di sini ialah timing. Betul Petronas memerlukan ramai pekerja untuk RAPID, tetapi bukan sekarang.

Harga Minyak- Low for Longer or Temporarily Low.
Inilah ketidaktentuan yang paling besar. Harga minyak boleh sahaja terus mencanak tiba-tiba atau terus rendah untuk lima tahun atau lebih lama lagi.

Jika harga minyak tiba-tiba naik, langkah memberhentikan pekerja terbukti salah. Belajar daripada pengalaman, tentulah Petronas tidak mahu bersusah payah sekali lagi mencari pekerja semula. Pekerja yang cemerlang mungkin sudah bekerja dengan pesaing.

Namun, jika harga minyak terus rendah mengekalkan tenaga kerja yang ramai akan melemaskan Petronas itu sendiri. Lagipun Putrajaya lebih suka keuntungan Petronas di salurkan kepada Kerajaan berbanding bayar gaji pekerja yang tiada kerja.

Pilihan yang ada

1. Potong Gaji
2. Potong jumlah hari bekerja
3. VSS
4. Leave of Absence

Potong gaji dan mengurangkan jumlah hari bekerja walaupun boleh mengurangkan kos tetapi tidak dapat meningkatkan kecekapan dan prestasi syarikat.

Survival dalam harga minyak yang rendah memerlukan Petronas yang lebih maskular. Kita tidak mahu kapasiti dan kecekapan menurun dengan menurunkan saiz organisasi.

Umpamanya, pekerja dengan prestasi kerja kurang bermutu masih kekal dalam Petronas dan redundancy masih ada. Bezanya gajinya lebih rendah.

Untuk itu, Petronas perlu buang 'excess fat' dan lebihkan 'muscle' untuk terus kompetatif. Dalam dunia korporat hanya ada dua pilihan, sama ada ditelan atau menelan.

Yang lemah akan ditelan oleh yang kuat.

Jika tidak ada perubahan dan masih dengan tenaga kerja yang besaiz XXL, ada kemungkinan akan diambil alih oleh pesaing. Akhirnya pekerja tetap akan kena buang oleh syarikat yang mengambil alih.

VSS adalah bukti pekerja boleh jadi asset dan bertukar menjadi liabiliti. 'Our greatest asset is our people', seorang CEO pernah berkata. Tetapi pekerja bukanlah boleh dijual untuk membayar hutang atau dapatkan tunai.

Pilihan ini akan melahirkan semula Petronas yang lebih mascular dan lebih kompetatif. Inefficiencies will be eliminated and remaining workforce will become more efficient.

Begitupun, pilihan ini tidak memberi kelebihan jika harga minyak kembali pulih dan kos pampasan juga mahal.

Leave of Absent (LOA).
Ini umpama bercerai dengan ada iddah. Ada seorang pelajar saya yang ditawarkan LOA oleh syarikatnya Schlumberger.

Dalam pakej LOA, gaji pekerja akan dipotong separuh dan tidak perlu datang kerja. Tetapi tidak boleh bekerja sepenuh masa dengan syarikat lain dalam tempoh LOA. Macam tempoh iddah juga.

Tempoh LOA boleh jadi setahun atau dua tahun. Kuantum bayaran boleh berbeza-beza mengikut tempoh LOA.

Dalam kes Schlumberger, untuk memastikan pekerja datang kerja jika dipanggil balik contohnya, hanya 20% daripada gaji setahun akan dibayar lump sum dan baki 30% dibayar bila masuk kerja semula.

Pilihan ini juga menepati dengan jadual projek RAPID dan sekiranya harga minyak kembali pulih dalam masa setahun atau dua.

Lagipun, tiada kos pampasan yang besar.

Kesimpulan

Setiap pilihan di atas ada kelebihan dan kekurangannya sendiri sama ada di pihak Petronas atau pekerja.

Apa pun keputusannya, saya pasti ianya dibuat dengan penuh pertimbangan dan maklumat yang lebih tepat.

Tunggulah Townhall March 2016.

Wassalam

Elias Abllah

Yesterday got mhsev from sgm. He share a bit insight, that PETRONAS will be back to old time management. More like corporate where there will be no more upstream or downstream. Reporting wise will be different and this is in line with cactus project. This re org definitely will affect staff movement and effective 1st April. Lets wait until 1st March to know real deal.

Petronas to cut expenditure by RM15b to RM16b for 2016


KUALA LUMPUR: Petroleum Nasional Bhd (Petronas) plans to reduce its capital expenditure (capex) and operational expenditure (opex) for 2016 by between RM15bil and RM20bil in due to the low crude oil prices.

President and group chief executive officer Datuk Wan Zulkiflee Wan Ariffin said the reduction would be part of the national oil company’s move to reduce the capex and opex by RM50bil over the next four years.

He said the cuts would include revision and negotiation of contracts such as risk-sharing contracts, enhanced oil recovery and this reduction would also impact Petronas’ second floating liquified natural gas (PFLNG2).

Forecasting the oil prices to remain low in 2016, he said Petronas had taken its cost optimisation measures to another level to counter adverse impact to its business.

“These cuts will impact some of our capital projects. At this point, we have taken the decision to re-phase the PFLNG 2 project, to be commissioned at a later date than originally planned,” he said.

He added Petronas had also completed a review of its business operating model to facilitate higher efficiency levels and robustness in the organisation, resulting in a new organisation structure which would take effect on April 1.

"Company's cash flow from operation is unlikely to be able to cover capex and dividend commitments to the government," he told reporters at the Petronas financial year 2015 results on Monday.

He added that Petronas might tap into the debt market and its cash reserves if necessary to fund its capex.

In FY15, Petronas' cash flow dropped 33% to RM69.6il from RM103.6bil in 2014. Total cash inflow in 2015 totalled up to RM98.5bil while cash outflow was RM98bil.

For the fourth quarter ended Dec 31, 2015, Petronas posted a net loss of RM3bil due to RM12.9bil assets impairment. 

Revenue for the quarter fell 24% to RM60.1bil from RM79.4bil in same quarter in FY14.

Cumulatively, for FY15, the group reported a 56% decline in profit after tax to RM20.8bil from RM47.6bil in FY14. Revenue for the period fell 25% to RM247.7bil.

“The company anticipates its financial performance for 2016 to continue to be affected by the prolonged volatility in oil prices and is intensifying efforts to cushion the impact to remain competitive and sustainable,” it said.

Wan Zulkiflee said Petronas had persevered through the challenging year to remain profitable and fulfil its dividend commitment to its shareholders.

“Our strong operations are a testament to the hard work put in by the dedication of our team to keep this organisation going during these trying times,” he said.

With Brent price averaging US$52 per barrel and despite the current industry downturn, Petronas in 2015 achieved notable operational milestones in both its upstream and downstream businesses.

Below are Petronas’ 2015 operational highlights:

* An increase in upstream production by 3% as compared to 2014, driven by enhanced production and new production streams from Malaysia and Indonesia, and additional production from Azerbaijan.

* However, the sharp and prolonged decline in oil prices resulted in a 64% per cent drop in upstream business’ PAT to RM19.6bil. Non-cash impairments of RM18bil brought this down further to RM1.6bil for the year.

* The achievement of Greenfield first hydrocarbon from 11 fields, six of which are located in Malaysia.

* Seventeen exploration discoveries in 2015 places three-year average overall resource replenishment ratio at 1.1; while reserve additions in 2015 bring the three-year average replenishment ratio to 1.2.

* Better performance from downstream business, where the segment’s profit margin rose by over 50% to RM8.9bil.

* The downstream business’ result was attributed to the realisation of post acquisition synergies at Petronas’ Melaka Refinery, Petronas Gas Bhd’s transformation initiative, cross-business plant performance improvement initiatives, as well as cost savings initiatives across PETRONAS’ global lubricants business.

* The Pengerang Integrated Complex project is progressing as planned with the refinery and steam cracker construction on-track.

* Petronas Chemicals Group Bhd acquired three of Petronas’ petrochemical companies undertaking RAPID’s petrochemical projects.

* Petronas Lubricants International broke ground on its first lubricants blending plant in India.

Townhall start.. Huhuhu

Confirmed one will be the pflng2.

Confirmed as per bro azraeil. But those below SM is still depend on the reorganization. Surplus will receive vss.

My contract colleague received the email from HR saying that either until end of contract or early termination. Those contract ended last year managed to renewed but those contract ended this year are not renewed like myself. Today is the last day..tough time..really tough time

Not yet bro. Im quite anxious seeing the trending and looks like the are a lot candidates..
BTW, anyone heard from KPOC for their last advert?? anyone calls for interview?

Done sending & connect linkedin. Thanks bro Yakup

Petronas threatens to quit LNG project in Canada

KUALA LUMPUR: Petronas, according to the Financial Post (FP), has threatened to pull out from its USD36 billion Pacific Northwest LNG project in northern British Columbia, if it’s not approved by March 31 by the Trudeau Government which recently introduced climate-change priorities.

The company has reportedly advised the government that it will not accept additional hurdles. Petronas has suffered multiple delays and setbacks including aboriginal and environmental movement opposition and has already spent USD12 billion so far on the project up to this stage.

Michael Culbert, the president of Pacific NorthWest LNG said in an emailed statement that he was currently in Kuala Lumpur where Petronas is headquartered and that he was unable to provide comment.

In an emailed statement obtained by the Financial Post, Culbert urged supporters to get family and friends to send letters to the Canadian Environmental Assessment Agency (CEAA) by March 11, when public comment period ends. “Our opponents have been sending their thoughts to CEAA. Have you told Ottawa why you support the LNG business in Canada?”

Another two dozen companies eyeing LNG exports have not gone ahead with their projects due to regulatory delays. There are additional concerns on rising competition from US LNG exporters, plummeting prices, and aboriginal and environmental group opposition. These companies include the AltaGas-led group working on the Douglas Channel LNG project and Royal Dutch Shell on a proposed terminal near Kitimat.

The big worry, according to FP, is that the government will continue to stall while Petronas burns even more cash on the project. Market conditions for LNG are already heading south, where proponents want to cut their losses and look at other opportunities. Petronas is in a joint venture in British Columbia with China’s Sinopec, Japan Petroleum Exploration Co, India Oil Corp and Petroleum Brunei.

The new federal Liberal government is toughening up environmental reviews of major energy projects, in line with its “international commitments to help reduce greenhouse gases”, and also “to regain the public trust.”

The project sits on federal land on Lelu Island near Prince Rupert. It received “a largely favourable assessment” from the CEAA last month. It also received the green light from the British Columbia Government in November 2014.

In January, the government announced additional assessment on “direct and upstream greenhouse gas emissions”. The CEAA, according to a spokeswoman, will look into the latest government position on greenhouse gases.

CEAA said in its draft report on the project that it may cause significant adverse effects on the harbour porpoise but concludes that with key mitigation measures, it is not likely to cause significant adverse environmental effects. The CEAA is now conducting consultations and will make a recommendation to federal environment and climate change minister Catherine McKenna.

A Petronas spokesman said that it was business as usual for the company and referred to a statement on February 29 by the company’s President and Group CEO Wan Zulkiflee Wan Ariffin stating: “As far as the Pacific Northwest LNG project in Canada is concerned, we continue to work towards achieving full FID. We are reviewing the draft report (of the CEAA) including the conditions.”

Brent hit 41.06. Hope it continues the momentum

Thanks bro yakup.
Been wondering how they got the company name. Remind me of sigur ros, Icelandic post rock band

Good news bro..

Bro bila mo belayar jadi haji?

Panas bontot skrg panas lg di arab sana..hehe.
chillax bro di musim yang panas ni..

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Everything you own is not yours..its owned by bank until you completed the loan...moral of the story..dun post in fb or insta until you've paid it completely.

pa crita bro..watsapp sik masuk.