Petronas job cuts reflect broader industry shift, say economists

The global energy shift is pushing oil giants like Petronas to cut jobs and restructure to stay competitive. Experts say rising costs, automation and the push for clean energy are forcing the industry to change fast. Petronas is letting go of over 5,000 workers as part of this move, with profits already down and expenses rising. This change could hit contractors and regions that rely on the company, especially in Sarawak and Sabah. Analysts also warn it signals a bigger shake-up across Malaysia’s oil and gas sector, with potential impacts on jobs, government revenue and future industry focus. Read more: https:// ———————————- #NST #NSTTV visit u