News Industry

Petronas to Cut 5,000 Jobs, Raising Uncertainty for African Operations

Petronas to Cut 5,000 Jobs, Raising Uncertainty for African Operations
Thursday, 12 June 2025 16:10
  • Petronas to lay off 5,000 staff as part of a major restructuring for future competitiveness
  • African operations not directly addressed, but changes could affect partnerships and timelines
  • Company shifts focus to low-carbon projects amid global energy transition

Malaysian oil company Petronas, a key player in Africa’s hydrocarbons sector, will cut around 5,000 jobs—roughly 10% of its global workforce—as part of a broad restructuring plan to maintain competitiveness in the medium and long term. The announcement comes amid pressure from shifting energy prices, industry changes, and the ongoing global transition to cleaner energy.

"This difficult decision is necessary to ensure that Petronas remains able to grow and serve the nation," the company said, noting that departing employees will receive severance packages, career transition assistance, and job placement support.

The job cuts mainly affect support roles such as human resources and finance, where staffing levels reportedly exceed sector norms. The company did not specify how the changes will affect operations in Africa, where Petronas has active interests in countries like Sudan and Egypt.

In 2022, Petronas had considered divesting up to $3 billion in upstream assets in Africa. Although no final decision was made, the internal review highlights how future strategic changes may affect ongoing or planned projects on the continent.

Petronas is also repositioning itself to become a supplier of low-carbon intensity solutions, especially in the liquefied natural gas (LNG) sector. This focus could alter the status of African ventures not aligned with the company’s new direction.

No specific decisions regarding African assets have been announced, but the restructuring could impact timelines, investment flows, or technical resource allocation. Continental partners are expected to monitor the situation closely.

On the same topic
 • Kamoa-Kakula, DRC's largest copper mine, boosts production by 31% to 245,127 tonnes in H1 2025, despite a temporary halt in operations in...
Chinese firm Dowstone Technology to invest $165 million in a new copper smelter in the DRC. China imported 36% of its copper from the DRC in...
• Twiga Minerals contributed $558 million to Tanzania’s economy in H1 2025, 62% of its 2024 total.• The joint venture pays significant taxes...
• TotalEnergies to start production at offshore Ima gas project in 2026• Output will support LNG supply but broader sector issues persist• Infrastructure...
Most Read
01

• Global coffee consumption projected to hit a record 169.4 million 60-kg bags in 2025/2026, up from...

Coffee: Global Consumption Expected to Reach Record Level in 2025/2026
02

• Algeria grants commercial 5G licenses to top three telecom operators: Mobilis, Djezzy, and Ooredoo...

Algeria Awards Commercial 5G Licenses
03

• Investors seem to keep focusing on yields, which are high for the moment• New Leadership might see...

Afreximbank Bonds Retain Market Confidence Despite Moody’s Downgrade
04

• Kenyan President William Ruto signs strategic partnership with UK Prime Minister Keir Starmer to b...

William Ruto in London: New Agreement Aims to Double Kenya-UK Trade by 2030
05

• IFC teams up with AfDB and Nigeria’s EbonyLife to assess a new fund for African cinema• Sector cou...

IFC Plans Investment Fund to Help Grow African Film Industry
Enter your email to receive our newsletter

Ecofin Agency provides daily coverage of nine key African economic sectors: public management, finance, telecoms, agribusiness, mining, energy, transport, communication, and education.
It also designs and manages specialized media, both online and print, for African institutions and publishers.

SALES & ADVERTISING

regie@agenceecofin.com 
Tél: +41 22 301 96 11 
Mob: +41 78 699 13 72
Média kit : Download

EDITORIAL
redaction@agenceecofin.com

More information
Team
Publisher

ECOFIN AGENCY

Mediamania Sarl
Rue du Léman, 6
1201 Geneva
Switzerland

 

Ecofin Agency is a sector-focused economic news agency, founded in December 2010. Its web platform was launched in June 2011. ©Mediamania.

 
 

Please publish modules in offcanvas position.