The mutual growth aspirations of our various stakeholders is among our priorities. Anchored on our mission of contributing to societal wellbeing, we pursue numerous initiatives to promote holistic value creation by empowering communities where we operate. Regular engagements with local communities enable timely updates on project developments and discussion on matters of interest.
We also place precedence on investing in our human capital development, equipping our workforce with the skills and knowledge to inculcate a high performance culture. In parallel, we are working towards ensuring the availability of a reliable talent pool to drive our business growth, in Malaysia and internationally.
Local sourcing is encouraged to support the development of multiple industries wherever we operate.
Sustainability to us is about delivering energy by balancing economic, social and environmental considerations. Underpinning our efforts is the Code of Conduct and Business Ethics (CoBE), supported by relevant Commitments. The PETRONAS Corporate Sustainability Council, headed by the Senior Vice President of Corporate Strategy, oversees the integration of Sustainable Development across the PETRONAS Group.
PETRONAS has voluntarily disclosed the Company's non-financial performance since 2007. The Group Sustainability Report 2017 (SR2017) is the tenth edition for PETRONAS and highlights the key Environmental, Social and Governance (ESG) initiatives carried out over a 12-month period, from 1 January to 31 December 2017.
The SR2017 is developed in adherence to the oil and gas industry guidelines on voluntary sustainability reporting – third edition, amongst others. The guidance was published by IPIECA in conjunction with the American Petroleum Institute (API) and the International Association of Oil and Gas Producers (IOGP). IPIECA is the global oil and gas industry association for environmental and social issues.
The Global Reporting Initiative's (GRI) sustainability reporting guidelines were also cross-referenced, where applicable. GRI is an independent international organization that has pioneered sustainability reporting since 1997. GRI helps businesses and governments worldwide understand and communicate their impact on critical sustainability issues such as climate change, human rights, governance and social well-being. This enables real action to create social, environmental and economic benefits for everyone. The GRI Sustainability Reporting Standards are developed with true multi-stakeholder contributions and rooted in the public interest. They can be downloaded free of charge at here.
To date, efforts are ongoing to streamline the Group's non-financial disclosure practices aiming for continuous improvements and elevated levels of transparency. Insights on PETRONAS' corporate overview, financial statements and strategic business plans are available in the Group Annual Report 2017.
We strive for a high performance culture by continuously investing in our people. Ongoing initiatives are tailored to hone leaders equipped with business acumen and technical know-how. Efforts are made to elevate our current talent recruitment and retention practices in realising PETRONAS' Global Talent Strategy.
Our competitive Human Resource policies, applicable Groupwide, are benchmarked against international laws, regulatory requirements, cultural norms, and industry good practices. The same applies to our listed companies, which adhere to all relevant Host Country regulations.
Additionally, we have four education institutions and a variety of skill development programmes and partnerships to cater to the training and development of human capital.
Interested to know more on career opportunities with us? Find it here at our Careers page.
PETRONAS is committed to respecting internationally recognised human rights in areas of its operations, complying with its Code of Conduct and Business Ethics, and all relevant legal requirements.
Local Content Development
As a multinational oil and gas company, we understand the importance of ensuring that extracted oil and gas assets benefit the host nations in which we operate. We respect regulations that require local content and work together with local partners to develop skills and knowledge necessary to spur socio-economic developments.
When possible, we aim for the majority of the employees in our international operations to be host country nationals. Leveraging on our suite of both technical and leadership development programmes, we systematically equip local employees and entrepreneurs to be part of the development of the oil and gas resources of their nation.
Vendor Development Programme (VDP)
PETRONAS Vender Development Program (VDP)
The PETRONAS VDP has evolved over 25 years of its journey. The program has been successfully implemented and undergone various phases of learnings, in tandem with different challenges faced by the industry, the most recent being the oil crisis since 2014.
Today, it has produced world class Bumiputera firms that are able to compete in global markets. Some of its graduates have been listed in the KLSE and patented its innovation and technology as an intellectual property (IP) owner.
PETRONAS VDP Growth
NURTURE OGSE BUMIPUTERA SMES
PETRONAS VDP program objective is to create resilient and competitive Bumiputera SMEs to support the Malaysian oil & gas eco system.
Should you have any enquiries regarding PETRONAS VDP Programmes, contact us at email@example.com
NATION BUILDING IN COLLABORATION WITH OUR OIL & GAS PARTNERS
The VDPˣ is an innovative approach to inject new momentum and scale-up the success of the program. The idea is for PETRONAS to focus creating an eco system for Malaysian OGSE firms to develop their capabilities to become resilient and competitive to succeed in the global market. PETRONAS collaborates with its partners towards supporting the vendor development program with following objectives:
- Groom more SMEs at a faster rate
- Enhance industry competitiveness
- Elevate local capability building
PETRONAS VDP Innotech
EMBRACING INDUSTRIAL REVOLUTION 4.0
VDP InnoTech aspire to nurture Bumiputera SMEs for technology advancement and the ownership of IP (Wholly or Partly). Companies can apply to participate in the program by either:
- Joining PETRONAS' Technology Challenge to create a need-driven solution via open invitation.
- Company with innovative solutions can participate via PETRONAS Technology Marketplace.
- Adoption of an external innovative technology for OGSE.
If you are interested to join our VDP Innotech program, please submit your proposal to iG@P:https://innovation.petronas.com/welcome