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 Announces Management Changes, Effective May 1, 2015
Apr 16 15
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
Mar 19 15
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
Feb 27 15
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.
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