Kuala Lampur, Aug. 2 -- The global energy business is at a crossroads. The old certainties that once kept oil and gas companies flush with profits are fast evaporating. Rising climate pressures, aggressive carbon targets, volatile oil prices, and the unstoppable march of renewable energy are rewriting the rules of the game. In Malaysia, this new reality has landed squarely at Petronas' doorstep. The national oil company recently announced substantial job cuts, joining a long list of global oil majors trimming operations to stay afloat. But here's the hard truth: job cuts alone won't save them. The problem isn't just about leaner operations - it's about an outdated business model in a world that's moving on.

For decades, the business mode...