Lowyat.NET: Latest topics by winkleman

Ex-Petronas CEO removed from ExxonMobil’s board

winkleman — Thu, 03 Jun 2021 14:00:52 +0800

The former boss of Malaysian national oil company (NOC) Petronas, Tan Sri Wan Zulkiflee, will be removed from ExxonMobil’s board just four months after being appointed, after investors rejected him in historic vote.

Zulkiflee’s downfall comes after ExxonMobil activist investor Engine No. 1 expanded its presence on the oil giant’s board to three seats, according to preliminary vote tallies, cementing a victory that has reverberated across the energy industry.

Energy Voice previously reported that Zulkiflee’s appointment had bewildered some industry observers in Malaysia, who found it difficult to see the value Zulkiflee, commonly known as Wan Zul, could bring to the US oil major.

Significantly, it was hard to see which “issue” ExxonMobil was addressing with Wan Zul’s appointment, a senior Kuala Lumpur-based oil executive told Energy Voice.

“His global industry expertise coupled with his insights related to the energy transition will complement our highly experienced board,” ExxonMobil said when announcing his appointment.

Still, “given the scale and types of challenges facing ExxonMobil, which include the energy transition, loss of faith by global capital markets, as well as dividend risks, nothing on Wan Zul’s experience will assist,” a Malaysian industry source told Energy Voice previously.

“Engine No. 1 is a textbook example of the forces shaping global investing. By focusing on clear management failure issues at ExxonMobil, such as carbon policy, capital investment blunders and a lack of purpose and vision, they were able to bring along the institutional investors and notch the win,” said the Kuala Lumpur-based oil executive, who wished to remain anonymous.

Wan Zul served from 2015 to 2020 as president and group chief executive of Petronas. He resigned from the NOC in June last year after becoming embroiled in a fierce political battle between the Federal government and state government of Sarawak. His downfall was sealed after he resisted all attempts to amicably resolve the dispute over oil and gas rights with Sarawak.

https://www-energyvoice-com.cdn.ampproject....ivist-coup/amp/

nevermind la

winkleman — Tue, 24 Nov 2020 13:54:53 +0800

Nevermind.

When is Brunei economy going to crash?

winkleman — Wed, 22 Apr 2020 09:08:27 +0800

With oil price crashing, how is Brunei still maintaining their peg to Singapore dollar?

What other source of income does the country have for economy?

1 Brunei dollar = 3.08 Ringgit

Why my non-O&G friends celebrating oil crash?

winkleman — Tue, 21 Apr 2020 08:51:59 +0800

On my WhatsApp and social media - all my friends are celebrating the oil crash expecting cheap oil.

Don’t they understand basic economy that malaysia is dependent on oil and gas income?

Why they celebrating like bodo?

Has anyone worked in Qatar before?

winkleman — Tue, 14 Apr 2020 21:16:47 +0800

I got a job offer in Qatar recently (oil and gas)

What’s the payscale like? Usd20k a month enough?

Worst career advice?

winkleman — Thu, 02 Apr 2020 21:35:03 +0800

Since we are all stuck at home for MCO, let’s look back at our career and think of all the bad career advices we have received.

I will start.

1. “Work for passion, not for money”
Reason : I did exactly that, took a lower pay job to get “valuable experience” and to my horror when I went for my next interview after becoming an expert in my field.. HR looked at my previous salary to justify their offer to me.
Lesson learnt : Salary always comes first.

Let’s keep this thread going, I will keep adding..