Petronas chief executive has contract extended

Tengku Muhammad Taufik has had his contract extended as chief executive of Malaysia’s national energy company Petronas.

Taufik’s existing, initial three-year contract — he is effectively appointed by the Malaysian government — was due to expire at the end of this month.

“I have been extended, and I think that’s as far as I am probably at liberty to say. Other than that, you have to get comments from my shareholders and boards,” he told Malaysia’s national news agency Bernama after attending International Energy Week in Sarawak last week.

Upstream has approached Petronas for comment.

Taufik on 1 July 2020 replaced former Petronas head honcho Wan Zulkiflee Wan Ariffin who left the Malaysian national oil and gas company to take up a new, government-mandated position as chairman of Malaysia Airlines.

Wan Zulkiflee was appointed head of Petronas on 1 April 2015, following an historic oil price crash, and his original three-year appointment was extended by a further 36 months in 2018.

His successor Taufik had been Petronas’ chief financial officer before being appointed as chief executive.