SINGAPORE - Petronas, Malaysia's national oil company (NOC), confirmed on Monday (July 2) that Sidek Hassan has stepped down as chairman of its board.

Petronas stopped short of identifying Mr Sidek's successor though Malaysian media have earlier speculated that Hassan Marican - now chairman of Sembcorp Marine, Singapore Power and Pavilion Energy - may return to helm the NOC's board.

Mr Sidek retired as Petronas chairman on June 30, following the fulfilment of his extended three-year contract beginning on July 1, 2015, Petronas said.

He was first appointed as Petronas chairman on July 1, 2012, after having spent 38 years in the civil service and retired as the 12th Chief Secretary to Malaysia's government.

Malaysia media had identified Mr Hassan as a potential successor to Mr Sidek. Mr Hassan has had a successful career as the longest-serving Petronas chief executive before he moved to Singapore to take board seats initially at Sembcorp Industries, Sembcorp Marine and Singapore Power.

He was appointed chairman of Singapore Power in 2012 and subsequently chairman of Pavilion Energy in 2013 and Sembcorp Marine in 2014.