A statement from the Prime Minister's Office stated the termination was made with unanimous support from Cabinet members in a meeting held today.
The termination came following Mahathir's involvement with the Citizens' Declaration announcement aimed to unseat Prime Minister Datuk Seri Najib Abdul Razak, the statement said.
"The Cabinet today discussed the actions of former Prime Minister Tun Dr Mahathir Mohamad, particularly in launching the so-called "Citizen's Declaration" with opposition leaders last week," it stated.
"The Cabinet decided that, since Tun Mahathir is no longer supporting the current Government, he should no longer hold any position related to the Government.
"Therefore, the Cabinet today agreed unanimously to terminate the appointment of Tun Mahathir as advisor to Petronas," the statement said.
It said the declaration was against the law and the Federal Constitution as it was aimed to topple the democratically-elected government led by Najib.
Mahathir in a packed press conference last Friday led a group comprising of former cabinet ministers, opposition leaders and civil society representatives to sign a declaration calling for Najib's removal.
Among prominent political leaders present at the event were former Deputy Prime Minister Tan Sri Muhyiddin Yassin, former Kedah Mentri Besar Datuk Muhkriz Mahathir, DAP Parliamentary leader Lim kit Siang and Selangor Mentri Besar Datuk Seri Mohamed Azmin Ali.
Mahathir has been vocal in criticising Najib and his government following several controversies revolving alleged misappropriation of funds, predominantly involving the 1Malaysia Development Berhad.
Prior to the Citizens' Declaration, Mahathir had announced his departure from Umno as a sign of protest towards the leadership of Najib, who is also the party president.
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