PETROLIAM Nasional Bhd (Petronas) is building its digital and technological capabilities to set itself apart from competitors as it moves forward and adjusts to the low oil price environment. To cope with the “new normal”, president and group chief executive officer Tan Sri Wan Zulkiflee Wan Ariffin said Petronas wants to make technology its differentiator as the industry is deemed a highly technical one. We allocate about RM600 million to RM800 million a year in technology and digital investments. The contribution is small to our profit margin but we need to do what others don’t. “We said we would invest in technology even when the times are bad and the same allocation will be given out no matter what the oil price is.

Source: New Strait Times September 25, 2017 03:00 UTC