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PETRONAS, short for Petroliam Nasional Berhad, is a
Malaysian oil and gas company that was founded on August 17, 1974. Wholly owned
by the Government of Malaysia, the corporation is vested with the entire oil
and gas resources in Malaysia and is entrusted with the responsibility of
developing and adding value to these resources. PETRONAS is ranked among
Fortune Global 500's largest corporations in the world. Fortune ranks PETRONAS
as the 95th largest company in the world in 2008 and 80th largest in 2009. It
also ranks PETRONAS as the 13th most profitable company in the world and the
most profitable in Asia.
Since its incorporation, PETRONAS has grown to be an
integrated international oil and gas company with business interests in 35
countries. As of the end of March 2005, the PETRONAS Group comprised 103 wholly
owned subsidiaries, 19 partly owned outfits and 57 associated companies.
Together, these companies make the PETRONAS Group, which is involved in various
oil and gas based activities. The Financial Times has identified PETRONAS as
one of the "new seven sisters" the most influential and mainly
state-owned national oil and gas companies from countries outside the OECD.
The group is engaged in a wide spectrum of petroleum
activities, including upstream exploration and production of oil and gas to
downstream oil refining; marketing and distribution of petroleum products;
trading; gas processing and liquefaction; gas transmission pipeline network
operations; marketing of liquefied natural gas; petrochemical manufacturing and
marketing; shipping; automotive engineering; and property investment.
Petronas provides a substantial source of income for
the Malaysian government, with 45% of the government's budget dependent on
Petronas' dividend, moreover in 2011 government actual balance has 5 percent
deficit of Gross Domestic Product.
Type Government-owned corporation
Industry Oil and gas
Founded
17 August 1974
Headquarters
Kuala Lumpur, Malaysia
Area served
Malaysia
Key people
Tan Sri Shamsul Azhar Bin Abbas, Group CEO and President
Products
Petroleum, natural gas,petrochemicals
Services Shipping services
Revenue US$ 79.95 billion (2010)
Net income
US$ 20.88
billion (2010)
Total assets
US$ 145.52
billion (2010)
Total equity
US$ 87.45
billion (2010)
Owner(s)
Malaysian Government
Employees
39,236 (2010)
Website www.petronas.com.my
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