Oil, Gas and Consumable Fuels
Company Overview of Petroliam Nasional Berhad
Petroliam Nasional Berhad, together with its subsidiaries, operates as an integrated oil and gas company in Malaysia and internationally. It operates through Exploration and Production, Gas and Power, and Downstream segments. The company engages in the exploration, development, and production of crude oil and natural gas; liquefaction, transportation, and sale of liquefied natural gas (LNG); processing and transmission of natural gas; and sale of natural gas products. It is also involved in refining, trading, and marketing crude oil and petroleum products; and manufacturing, marketing, and trading petrochemical products. In addition, the company owns and operates a network of retail stations...
PETRONAS Twin Towers
Kuala Lumpur City Centre
Kuala Lumpur, 50088
Founded in 1974
Key Executives for Petroliam Nasional Berhad
Chief Executive Officer, President and Executive Director
Group Chief Financial Officer and Executive Vice President
Executive Vice President and Chief Executive Officer of Downstream Business
Chief Executive Officer of Upstream, Executive Vice President of Upstream and Executive Director
Chief Executive Officer of MISC Berhad and President of MISC Berhad
Compensation as of Fiscal Year 2014.
Petroliam Nasional Berhad Key Developments
Petroliam Nasional Berhad Revised Capital Expenditure Guidance for 2015
May 23 15
Petroliam Nasional Berhad has cut its capital and operating expenditures (capex and opex) by 15% and up to 25%, respectively, from the originally-approved budget last year. The decision was to cope with the current global oil prices, which are lower than the benchmarked price in the budget last year. The 2015 capex, originally budgeted and approved last year, was MYR 90 billion (including acquisition costs) compared with MYR 60 billion the previous year. However, this has been reduced to about MYR 70 billion, of which MYR 54 billion would be used for the group's upstream and downstream businesses in Malaysia.
Petroliam Nasional Bhd Reports Earnings and Production Results for the First Quarter Ended March 31, 2015
May 22 15
Petroliam Nasional Bhd reported earnings and production results for the first quarter ended March 31, 2015. For the quarter, the company’s pre-tax profit was 38% lower at MYR 16.95 billion from MYR 27.21 billion in the same period of last year. Revenue was 21% lower at MYR 66.19 billion from MYR 84.05 billion. The company attributed the weaker performance to low average realized prices across all products and lower crude oil prices. However, the quarter's performance was partly offset by higher sales volume of crude oil and LNG.
For the quarter, total production of crude oil and condensates as well as gas was 5.0% higher at 2,365 kilo barrels of oil equivalent per day.
British Columbia and Petronas Ink $36 Billion LNG Project Deal
May 21 15
British Columbia and Petronas have signed an agreement towards a potential $36 billion liquefied natural gas project near Prince Rupert. Premier Christy Clark announced the deal, which is a memorandum of understanding outlining steps towards a deal but is not a final investment decision by the company. Petronas-controlled Pacific NorthWest LNG is proposing to build an LNG export facility at Lelu Island. The proposal includes long-term royalty agreements that bring revenue minimums to the province and rate stability to Petronas. The royalty rates, which are pre-set annually, start at just above 6% and rise to a maximum of 13.36%, bringing an estimated $7.7 billion in revenue to the province over the 23 years of the proposed project.
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