Petronas global is a Malaysian company and its activities cover Crude Oil and Natural Gas discovery, development and production in Malaysia and abroad. It implements innovative technology solutions that allow access and optimize energy sources from even the most isolated and demanding conditions. It was established in 1974. Petronas is short for Petroliam Nasional Berhad (National Petroleum Limited). It consists of 103 wholly owned subsidiaries, 19 partially owned entities and 57 affiliated businesses.
Headquarters: Kuala Lumpur, Malaysia
Established in: 1974
Annual Revenue: 46.06 Billion U.S Dollars
Number of Employees: 51,000
History:
- Its logo, unveiled in 1974, is a sign of dynamism and forward progress, qualities that for four decades have fuelled its development.
- It launched operations from the premises of the Prime Minister’s Department in Jalan Dato ‘ Onn, Kuala Lumpur, with 15 employees and only two telephone lines.
- In 1976, it concluded the first Profit Sharing Contract (PSC), turning the Oil exploration and extraction concession process into a more egalitarian PSC model. The formation of PETRONAS Carigali Sdn Bhd was also confirmed.
- With the establishment of PETRONAS Carigali Sdn Bhd in 1978, PETRONAS first embarked on Oil exploration and production activities.
- The company set up three skid-tank stations to sell Kerosene and Diesel for consumers in Kuala Lumpur and Petaling Jaya, when Malaysia was struck by the global Oil crisis of 1979 due to a shortage of fuel.
- In 1980, by establishing the ASEAN Bintulu Fertilizer plant in Sarawak, PETRONAS expanded its downstream businesses.
- In the Duyong Gas field, it drilled first evaluation well, and in 1981 made its first Oil discovery in the Dulang Oil field.
- PETRONAS welcomed foreign companies to re-explore areas of the sea between Sabah and Sarawak in 1990.
- In 35 nations, PETRONAS has developed into an integrated multinational Oil and Gas company with business interests.
- In 2015, PETRONAS reported reducing its 2015 capital expenditure budget after reporting a fourth-quarter loss of $2 billion, the first loss of the company since it started reporting quarterly results five years ago.
- In 2017, PETRONAS scrapped a $36 billion liquefied Natural Gas (LNG) plant, Pacific Northwest LNG, perceived to be costly and a target in British Columbia’s Canadian region.
Functions:
Petronas ventures are hotbeds of creativity in engineering. Specially the Pengerang Integrated Complex (PIC) is a crucial innovation capable of processing 300,000 bpd of Crude Oil into Euro 5 diesel and generating quality differentiated petrochemicals, once it becomes fully operational in 2019.
- Pengerang Integrated Complex
PIC is the largest investment made by Petronas in Malaysia, based in Pengerang, Johor and part of the ambitious Pengerang Integrated Petroleum Complex of the government. The PIC plan was designed to produce quality specialized petrochemicals to satisfy petroleum products domestic demand. It is also to fulfill the future legislative requirements of the Malaysian government on Euro 5 implementation.
- Sabah Ammonia Urea (SAMUR)
The world-class SAMUR site, situated in Sipitang Oil & Gas Industrial Park, Sabah, comprises ammonia, urea and granulation facility, as well as service and jet facilities. It is an integral part of the overall downstream plans of Petronas to optimize the value of offshore Sabah Oil and Gas resources.
The urea plant produces 1.2 million tons of granulated urea per year. The ammonia plant produces liquid ammonia at 740,000 mtpa. From its plants in Gurun, Kedah and Bintulu, Sarawak, Petronas generates 1.4 mtpa of granulated urea.
- Integrated Aroma Ingredients Complex
The primary objective of this venture is to satisfy the increasing demand in the Asia-Pacific region for citral-based products. PETRONAS also has the ability to tap into the demand of spices, fragrances and pharmaceuticals. The Complex is a joint venture between two affiliates, Petronas Chemicals Group (PCG) and the German chemical company BASF.
Subsidiaries:
PETRONAS has over 100 subsidiaries and around 40 joint ventures in which PETRONAS has an interest of at least 50%. While the company aims to disclose more of its subsidiaries, the firm has identified at least three of them in Bursa Malaysia to date.
- PETRONAS Dagangan Berhad
It covers the domestic market supply and sells finished petroleum products. The company has more than 800 Gas stations in Malaysia.
- PETRONAS Gas Berhad:
The company is Involved in providing fuel storage and distribution facilities as a transit business for PETRONAS and its clients. It owns and operates the 2,550-kilometer long Peninsular Gas Pipeline from Kerteh in Terengganu to Johor Bahru in the South and Kangar in the North of Peninsular Malaysia.
- PETRONAS Chemicals:
The PETRONAS Chemicals is a new publicly listed company. It is South East Asia’s largest petrochemical producer and seller. Olefins, polymers, fertilizers, Methanol and other vital chemicals and derivatives are included in its product line.
Operations:
The group is engaged in a wide range of petroleum operations, such as upstream exploration and production of Oil and Gas for downstream Oil refining, distribution and marketing of petroleum products, trading, Gas processing and liquefaction, Gas transmission network management, Liquefied Natural Gas marketing, petrochemical manufacturing and marketing, transportation and automotive engineering.
- Upstream:
In Malaysia and abroad, Petronas is exploring, producing and developing Oil and Gas resources to deliver long-term value to all its stakeholders. With onshore opportunities in Alberta, discovery in South America and deepwater mining in Brunei, it combines a wide range of resources and play forms, introducing innovative technology and creating unique technical solutions to exploit its capacity for hydrocarbons.
- Downstream:
Through its operations in refining, producing, trading and marketing of Crude Oil, other petroleum and petrochemical products, Gas processing and transportation, regasification, power generation, as well as providing technical and engineering solutions to the entire PETRONAS Group, the company is involved in the full spectrum of downstream activities.