Malaysian state-owned oil firm Petronas will not be put up for private auction, the country's parliament has confirmed.

According nst.com.my, politicians expressed their view that the company's contribution to the development of Malaysia is too important for such a move to be considered.

Prime minister Datuk Seri Abdullah Ahmad Badawi explained that the company was the biggest sole contributor to the country's economy, accounting for 44 per cent of revenues so far this year.

Petronas is also committed to what it terms "good corporate citizenship", providing the domestic workforce with robust training and development programmes and facilities to allow them to pursue a career in the energy industry.

It also aims to provide Malay workers with onsite training in the oil, gas and petrochemicals sector, with oil education programmes running from ten to 52 weeks.

The company has also iterated its commitment to lifelong education and development for those who pursue a career within the company.

Oil and Gas Directory: Training and Development