The LNG Global news portal was one of the first of the energy news wires to outline the pending
|Outgoing Petronas CEO
Shamsul Azhar Abbas
Highlighting a Bloomberg Business report which offers up some background regarding the decision reached by the Malaysian Government.
The Government is turning to Datuk Wan Zulkiflee Wan Ariffin, a long time part of the Petronas team to deal with the slump in the price of oil and the impact it is having not only on Petronas, but on Malaysian Government revenues.
He most recently was the CEO and Executive VP and CEO of Petronas' downstream Operations.
|Datuk Wan Zulkiflee Wan Ariffin,
the New CEO and President for
The soon to be departing Mr. Abbas, who was steering the Pacific NorthWest project, put the project on hold late last year, suggesting that Petronas would make a final investment decision on its proposed Lelu Island project sometime in the first half of 2015.
Whether the change of command in Kauala Lumpur has an impact on that timetable remains to be seen. It has been reported that Petronas has already committed to a reduction in capital spending by up to 20 per cent for this year.
Some background on the leadership discussions can be found below, highlighting the importance that Petronas has to the overall Malaysian economy.
Petronas names Wan Zulkiflee as new president
Wan Zulkiflee is new Petronas Chairman effective April
Wan Zul takes over as Petronas head on April 1
Next 24 Hours will determine who runs Petronas
Successor for Top Job at Petronas to be announced soon
Pacific Northwest LNG officials are scheduled to provide a more locally directed overview of developments for the North coast tonight at Prince Rupert City Council.
This evening's review is most likely more of a session to provide updates on design and community engagement, making it doubtful that the larger issues of corporate change will be explored at tonight's council meeting.
For more on the Pacific NorthWest LNG proposal see our archive page here.