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Malaysian oil & gas players urged to consolidate: Petronas

Malaysian oil & gas players urged to consolidate: Petronas
Indicating perhaps the direction Malaysian oil and gas (O&G) companies should be headed, national oil company Petronas president and group ceo Wan Zulkiflee Wan Ariffin suggested they consider exploring consolidation opportunities  to increase competitiveness and put the industry on a good footing when the global oil market recovers.

Adding that consolidation opportunities were plentiful, Wan Zulkiflee, speaking at a conference in Kuala Lumpur reportedly said: "Those with heftier cash and other means to fund consolidation and guided by a clear strategic focus, will be able to beat competitors to the negotiating table for winning deals.

"The industry must respond in a cohesive manner to make a tangible impact towards lowering costs and driving up efficiency levels."

As competition for new businesses and protecting existing ones becomes more intense in the current environment, it provides an opportunity for organisations to sharpen their focus on developing key strengths as differentiators to own competitive spaces," said Wan Zulkiflee.