Mahathir appointed Petronas advisor<\/p>\n
KUALA LUMPUR: Malaysia's former prime minister Mahathir Mohamad
\nhas been appointed advisor to national oil firm Petronas, a
\nreport said Friday.<\/p>\n
"(Mahathir) has agreed to be a Petronas advisor for quite some
\ntime," Petronas chairman Azizan Zainul Abidin was quoted as
\nsaying by the Malay-language Utusan Malaysia.<\/p>\n
Mahathir's appointment as advisor was appropriate because he
\nhad contributed many ideas to improve Petronas' operations
\npreviously, Azizan said.<\/p>\n
Mahathir, who retired as prime minister on Oct. 31 after 22
\nyears in power, was personally responsible for Petronas's
\nexpansion overseas, Azizan said.<\/p>\n
Mahathir this year urged Petronas to drop the dollar for the
\neuro in its oil and gas trades, a move which it has already begun
\nto implement by diversifying its currency portfolio.<\/p>\n
Petronas has operations in 34 countries, which contributed 31
\npercent to group sales in the year to March, it announced earlier
\nthis year.<\/p>\n
As at January, Petronas had total oil and gas reserves of
\n24.14 billion barrels of oil equivalent, of which 80 percent were
\ndomestic and the balance international. --AFP<\/p>",
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