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May 25, 2015 10:13 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


Founded in 1974


60 3 2051 5000


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
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
Age: 59
Compensation as of Fiscal Year 2014.

Petroliam Nasional Berhad Key Developments

Petroliam Nasional Berhad Revised Capital Expenditure Guidance for 2015

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.

British Columbia and Petronas Ink $36 Billion LNG Project Deal

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.

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.

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