Unlucky Teacher, Bright Pupil

Petronas and Pertamina are like a bright pupil and an unlucky teacher. While Pertamina decayed because of KKN (the Indonesian acronym for corruption, collusion and nepotism), Petronas grew and developed rapidly. In the early 1970s, Petronas sent some of its staff to Pertamina to learn how an oil company should be run. On their return, Petronas adopted the production-sharing contract that had been created by Ibnu Sutowo, Managing Director of Perta...