KUALA LUMPUR (April 17): Petronas said it will continue to drive operational efficiencies and commercial excellence while maintaining fiscal discipline in facing the immediate impact and anticipated headwinds of the Covid-19 pandemic as well as the steep drop in oil prices. 

In a statement on its website, Malaysia's national oil firm Petronas said that with a view to preserving the company’s resilience and sustainability, it will strengthen its mitigation strategies towards cushioning the short, medium and long-term impact on its business.

"As we navigate through the global Covid-19 pandemic which has led to staggering impact on daily lives and major interruptions to businesses, in addition to the collapse of oil prices, Petronas stands firm in upholding its amanah (trust), to first and foremost ensure the wellbeing of our people followed by the safe and optimal operation of our businesses across the value chain.

"In our commitment to ensure a reliable supply of energy to support the daily requirements of communities, businesses and governments, Petronas’ priority is to ensure our operations continue to run safely and efficiently across the value chain. We are working closely with relevant authorities on the necessary requirements during these Movement Control Order periods and will continue to exercise strict compliance to our health, safety, security and environment standards and best practices,” Petronas said.

Petronas said it is closely monitoring the situation here in Malaysia as well as in countries where it operates and will continue adhering to the guidelines by local authorities, prioritising the safety of its staff and their families as well as the wider network of its partners and customers.

"Since the onset of the Covid-19 outbreak, Petronas has taken immediate measures to ensure the safety of our employees through the implementation of several proactive steps to manage the risk of exposure and reduce the risk of transmission.

"At each and every operational site, we have in place the necessary safety measures and additional protocols to ensure the safety of our front-liners as they continue to discharge their duty of essential operations both onshore and offshore. We have also implemented a special working arrangement on March 13, for all of our employees who can work from home, to do so where possible,” it said.