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April 18, 2015 3:29 PM ET

Oil, Gas and Consumable Fuels

Company Overview of Petroliam Nasional Berhad

Company Overview

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

Tower 1

Kuala Lumpur City Centre

Kuala Lumpur,  50088

Malaysia

Founded in 1974

Phone:

60 3 2051 5000

Fax:

60 3 2026 5050

Key Executives for Petroliam Nasional Berhad

Chief Executive Officer, President and Executive Director
Age: 53
Group Chief Financial Officer and Executive Vice President
Age: 54
Chief Executive Officer of Upstream, Executive Vice President of Upstream and Executive Director
Chief Executive Officer of MISC Berhad and President of MISC Berhad
Age: 59
Chief Executive Officer of Petronas Energy Trading Limited and Managing Director of Petronas Energy Trading Limited
Compensation as of Fiscal Year 2014.

Petroliam Nasional Berhad Key Developments

Petroliam Nasional Berhad Announces Management Changes, Effective May 1, 2015

Petroliam Nasional Berhad announced that the appointment of Md. Arif Mahmood as Executive Vice President and Chief Executive Officer (CEO) of downstream business, succeeding Datuk Wan Zulkiflee who is now group president and CEO. Arif was senior vice president of corporate strategy and risk prior to the appointment. Adif Zulkifli, previously vice president of Petroleum Management Malaysia since March 2014, has been appointed Senior Vice President of Corporate Strategy and Risk. Muhammad Zamri Jusoh is now Vice President of Malaysia Petroleum Management. Prior to this, Zamri was head of strategy and new ventures for upstream strategy and risk. Zakaria Kasah, currently vice president and CEO Malaysia LNG, will be appointed as Vice President, Technology and Engineering while Dzafri Sham Ahmad, currently senior general manager of Malaysia LNG will succeed Zakaria. These changes will be effective May 1, 2015.

Petroliam Nasional Seeks Acquisitions

Petroliam Nasional Berhad is planning to use $5 billion raised through bond offering for corporate expenses and possible acquisitions.

Petroliam Nasional Berhad Reports Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2014; Provides Earnings Guidance for the Year 2015; Announces Impairment Charges

Petroliam Nasional Berhad reported earnings results for the fourth quarter and full year ended December 31, 2014. For the quarter, the company posted a net loss of MYR 7.3 billion due to a slide in global oil prices and asset impairment losses. Revenue for the quarter was down 6.4% to MYR 79.4 billion from MYR 84.8 billion in the same period last year. Excluding the impairment charge, the company would have achieved a pre-tax profit of MYR 20 million For the year, the company reported that net profit was fell 27% to MYR 47.6 billion. Revenue grew 4% to MYR 329 billion from MYR 317 billion, mainly driven by a 5% increase in oil production and higher LNG and gas sales, plus a favorable US dollar exchange rate against the ringgit. The company provided earnings guidance for the year 2015. The company expected it will be profitable for 2015, but profitability will be hurt in 2015 due to lower crude prices. The company also planned capital spending cuts of between MYR 20 billion to MYR 30 billion for the next two years. For the quarter, the company reported an asset-impairment charge of about MYR 20 billion.

Recent Private Companies Transactions

Type
Date
Target
Merger/Acquisition
November 11, 2014
Malaysian Refining Company Sdn. Bhd.
Merger/Acquisition
October 13, 2014
15.5% in Shah Deniz, 15.81% in South Caucasus Pipeline, 12.4% in Azerbaijan Gas Supply
Merger/Acquisition
April 29, 2014
15% Stake in Pacific NorthWest LNG Ltd. and Destined Natural Gas Reserves in British Columbia
 

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