Overview; Our Leaders; Awards; Our Brand; Group of Companies; Media; Yayasan PETRONAS; Businesses. "But I think the writing is on the wall for the regional oil giants who will need to play a significant catch-up role in the industry. COMMENTdocument.getElementById("comment").setAttribute( "id", "ac0c968ce95f2261e70e485e026be284" );document.getElementById("e01d65c919").setAttribute( "id", "comment" ); Your email address will not be published. It is worth noting that the group's earnings before interest, tax, depreciation and amortisation remained strong at RM55.3 billion. He noted that large impairments, which stood at RM31.5 billion for the financial year ended Dec 31, 2020 (FY20), was hard to monetise under any circumstances, let alone with depressed energy prices. • Privacy Policy   Bhd. Excluding the impairment, Petronas posted a net profit of RM10.5 billion, a 78 per cent decline from RM48.8 million in FY19. • East Narrowing Net Cash Position: Fitch expects PETRONAS to maintain its net cash position over the next four years, but negative FCF will reduce the net cash balance. Petronas and Exxon are working with advisers on a proposed sale of their stakes in the Chad project in Africa, according to Osaka Matsui Management analysts. Petronas has revealed that it has appointed Tengku Muhammad Taufik Tengku Aziz as its new president and group chief executive officer (CEO) following the retirement of … With that in mind, Innes said 2021 is expected to be a banner year for the industry, with some market calling for crude prices of US$80 per barrel. Energising Growth; Net Zero Carbon Emissions; Governance and Ethics; Four Sustainability Lenses. • Kerjaya@BERNAMA PETRONAS reported cash and cash equivalents of MYR141 billion against total debt of MYR90 billion at end-September 2020. The national oil company said in its Petronas Activity Outlook 2018-2020 there would be about 20 greenfield and 30 brownfield projects, and out of this, all the greenfield projects will have completely new facilities developed while 10% of the brownfield projects may need new facilities. • Images Petronas warns of project delays, aims to keep local capex Energy Tuesday, 14 Apr 2020 7:13 AM MYT Related News. The world’s energy transition bodes well with Petronas’ position as the largest liquified natural gas exporter in Southeast Asia and the third largest in the world. In the lower for longer environment, we have chosen to remain prudent and this is reflected in the activity level illustrated in this Report until we are confident that the current uptrend is sustainable. The location enables the easy transport of finished products to the market. "There are some challenging transitional years ahead that will require sharp pencils in the boardroom," he pointed out, adding that it was very difficult to say Petronas' venture into renewable energy came at the right time as the O&G industry is not out of the woods yet. Malaysian state energy giant Petronas said the risks of delays to some of its projects were rising due to prolonged coronavirus-related lockdowns around the world. Skip to main content Megamenu - Main. Take a look at the numerous accomplishments PETRONAS has achieved over the years in our pursuit for excellence. “Petronas is committed to accelerated digital transformation that delivers productivity, efficiency, visibility, safety and performance. In November 2020, Petronas announced its aspiration to achieve ‘Net Zero Carbon Emissions by 2050’ as part of its holistic approach to sustainability and to grow its business in … PFLNG2, 2020. • Sports • Energy Wisma BERNAMA transforms from fossil fuel energy to green energy," he told Bernama in an email interview recently. 50400 Kuala Lumpur PCSB was incorporated in Malaysia under the Companies Act, 1965 on 11 May 1978 and has its registered office at Tower 1, Petronas … About Us. The objective of the 50/50 partnership 1.5mta production. The two projects will collectively produce 7.7 million tonnes per annum (Mtpa) of differentiated and speciality chemicals, … The leading global oil, gas and energy news resource. Shearman & Sterling represented PETRONAS on its $15 billion ($10 billion of senior debt) project financing relating to its joint venture with Saudi Aramco in Malaysia, which includes a refinery, cracker, and two downstream petrochemical projects that form part of its approximately $28 billion RAPID (Refinery and Petrochemical Integrated Development) project. The torment did not stop there as the weaker oil and gas (O&G) industry was weighed down by the energy market imbalance resulting from the fragile dynamics of the … Preventing human errors when changing DP control modes, Charterers tackle carbon with the Sea Cargo Charter, Poseidon Med II: LNG leads the path to a sustainable marine transportation, Increased enclosed space casualties call for more investment in training, Update Mar 08: Live map depicts spread of coronavirus, IMO MEPC 76: Review of 2020 marine fuels quality, Deceased Captain of bulk carrier tests positive for COVID-19, Lessons learned: Fatality from electrocution during maintenance onboard, EEDI, EEXI amendments able to achieve IMO 2030 carbon intensity target. KUALA LUMPUR, March 1 -- The year 2020 was an agony for Petroliam Nasional Bhd (Petronas) as demand from crude oil unexpectedly fell off the cliff when the COVID-19 pandemic started ravaging the world, said an analyst. Battered by plunging oil prices, local upstream oil and gas services companies were hit by another piece of negative news last Friday - that Petroliam Nasional Bhd (Petronas) plans to cut its annual capital expenditure by 21%, despite having said earlier that it would keep to what it had budgeted for previously. On whether this trend would continue to this as oil majors also decided to scale down its presence geographically, Innes said belt tightening was going to be a consequence of, not only the bottom line loss but also, the need to redeploy capital into green energy. He said Petronas would look at the efficiency of its operating assets with a view of reducing emissions. Of the 47 projects, 42 were located in Malaysia while the rest were international projects. Covering the latest oil and gas news including shale, lng, drilling, exploration and production. The majority of analysts agree that >USD100 per barrel is now a thing of the past, Samsudin Miskon, Vice President,  Group Procurement, noted. IPMC 2020 aims to share cross-industry project management best practices, lessons learnt, cutting edge technologies, tools and processes that help … T7’s unit secures 10-year project with Petronas Carigali. 2021 © New Straits Times, New Straits Times Press (M) Bhd. • Features A progressive energy and solutions partner enriching lives for a sustainable future. A part of Media Prima Group. "The windfall from more petro-dollar per barrel than forecast will offset some of the 2020 hardships and will provide significant financial wiggle room to allow for the transformation into renewable energy," he pointed out. With final investments made in 2014, the facility is expected to produce its first LNG from the deep water Rotan gas field in 2020. The Mercedes-AMG Petronas Formula One Team is delighted to announce that INEOS will become a one third shar... 4:45 F1 2020 in Reflection: Toto … • World In our view, the oil price outlook will hover around USD50s to USD60s per barrel. • Market • Infographics BERNAMA, Pertubuhan Berita Nasional Malaysia merupakan Peneraju dalam perkhidmatan berita dan maklumat mempelawa calon warganegara Malaysia yang layak untuk menyertai kami : Sila layari portal kerjaya BERNAMA di https://kerjaya.bernama.com untuk maklumat lanjut. At the time, Malaysia has a big potential on greenfield projects, and aims to maximize the brownfield, as an average of 1.7m barrels a day is expected to to be produced the next five years. Fortunately, oil prices recovered very well from November 2020 onwards, which helped assuage concerns somewhat, said Innes. • Sabah In 2020, Petronas made the commitment to achieve net zero carbon emissions by 2050. Petroliam Nasional Bhd. In comparison, it recorded a profit after tax of RM40.5 billion in FY19. KUALA LUMPUR (Bernama) -- Petroliam Nasional Bhd (Petronas) will be hosting its inaugural International Project Management Conference 2020 (IPMC 2020) virtually on Dec 1-2. The complex covers an area of 2,000ha and includes a crude oil refinery and petrochemical complex capable of processing 300,000 barrels per day (bpd). Your email address will not be published. KUALA LUMPUR: Petroliam Nasional Bhd (Petronas) today reported a group loss after tax of RM21.0 billion for the financial year ended Dec 31, 2020 (FY20) due to net … Fuels | 04/01/18 Out of these 50 projects, 20 of the will be greenfield, which have already facilities, while 30 will brownfield projects, with some of them needing new facilities. • Politics KUALA LUMPUR, Jan 4 — T7 Global’s wholly-owned subsidiary, Tanjung Offshore Services Sdn Bhd has been appointed by Petronas Carigali Sdn Bhd in relation to the provision of leasing, operation and maintenance of mobile offshore production unit for the Bayan Redevelopment Project Gas — Phase 2. • Product and Services Meanwhile with profits in the O&G industry in Malaysia expected to take a massive hit for the financial year 2020, on the back of a global slump in world energy prices, including a 60 per cent drop in the price of oil over the last two years, jobs are being shed at a rapid rate. THE BUSINESS TIMES Petronas - Find Petronas News & Headlines, insight and analysis in Singapore, Asia-Pacific & global markets news at The Business Times. • Security Policy, RMCO: Ensure 90 per Cent of civil servants work in office - Masidi, Death toll from COVID-19 in Sarawak reaches 88, KBS to table spectator management protocol in stadiums next week, US: Fauci warns lifting virus rules risks another spike, Vaccination first before warm-up action for Farah Ann ahead of Tokyo Olympics, Negeri Sembilan govt optimistic of achieving RM10 bln investment target in 2021, Sabah CM envisages SOGIP as Southeast Asia's petrochemical gas, petroleum downstream hub, DOSM: Slight increase in unemployment rate in January 2021, Muhyiddin's visit will push Riyadh-KL ties to new heights - Saudi FM, PM Muhyiddin welcomed by Saudi Crown Prince on arrival in Riyadh, Person with disability involved in viral parking compound issue was a passenger, not driver. Permohonan hendaklah dibuat secara atas talian melalui portal kerjaya BERNAMA. Monday, 04 Jan 2021 07:51 PM MYT. Axi chief global market strategist Stephen Innes said O&G companies globally took a hit, and Petronas was not spared, making an impairment of RM20.78 billion in the second quarter of 2020. Out of these 50 projects, 20 of the will be greenfield, which have already facilities, while 30 will brownfield projects, with some of them needing new facilities. He warned a delay in completing the project could result in Canada missing out on sales of its abundant natural gas to foreign markets that are hungry for cleaner fuel. The commodity climbed 1.26 per cent in Feb 8 to hit US$60.19 a barrel – its highest since January last year – as asset markets rallied on the back of vaccine rollouts, slowing virus infections and hopes that US President Joe Biden’s huge stimulus proposal will be passed by the United States' lawmakers. Petronas’ PFLNG2, located in the South China Sea, began production when Petronas awarded its second FLNG FEED contract in 2011 – to Samsung and the JGC Corporation. Malaysia. • Quotation / Tender, © 2021 BERNAMA   Learn More. Petronas also is allocating five per cent of its capex this year for renewable energy. • Business • Nam News Network (NNN) You can see the full Petronas Activity Outlook 2018-2020 herebelow. Off Jalan Tun Razak Petronas posted its first-ever annual loss of RM21 billion for the financial year ended Dec 31, 2020 (FY20), dragged down by the RM31.5 billion impairment charge on assets. Malaysia, +603-2693 9933 (General Line) Required fields are marked *. • Exclusive Press Petronas announces new president and CEO. PETRONAS Carigali Sdn Bhd (PCSB), a wholly-owned subsidiary of Petroliam Nasional Berhad (PETRONAS), is a leading exploration and production (E&P) company taking on increasingly challenging projects to bring new oil & gas supplies to the market. (PCC-OM) to PCG. Shamsul Azhar Abbas is the new chairman of Sapura Energy Berhad after spending 40 years at Petronas. While negative FCF will expand in 2020, we expect lower dividend payouts in 2021 to support the return of … The inaugural International Project Management Conference (IPMC) 2020 hosted by PETRONAS is an exclusive gathering of project management practitioners from Oil & Gas, New Energy, Building & Infrastructure, Maritime & Shipping and Digital. Last October, Oslo-based O&G consultancy Rystad Energy had reportedly said the United States and European oil majors have either announced or are thought to be in talks to shed US$5.7 billion of O&G assets in Southeast Asia. At PETRONAS, our aim is to deliver energy solutions that fuel progress in a responsible manner. • Contact Us Spanning 6,239 acres, the PIC site lies approximately 400km south of Kuala Lumpur. • Northern The project includes oil … • Archived, • Central Learn More. is considering selling its stake in a joint project in Chad with Exxon Mobil Corp., according to people familiar with the matter. “This (the percentage) will vary from year to year, and in the next five years, it will go up to 7.0 to … • Thoughts The torment did not stop there as the weaker oil and gas (O&G) industry was weighed down by the energy market imbalance resulting from the fragile dynamics of the OPEC+ alliance.  helpdesk[at]bernama.com, • General Petronas PFLNG DUA project, previously known as Petronas Floating Liquefied Natural Gas-2 (PFLNG-2), involves the installation of a new FLNG facility at the deepwater Rotan gas field, located in Block H within the South China Sea, approximately 140km offshore Kota Kinabalu, in Sabah, Malaysia. • Videos • Disclaimer   Oil major ExxonMobil has a shortlist of buyers for its US$3 billion stake in Malaysian offshore oil assets, Bloomberg News said late last month. This is only set to be exacerbated as major O&G companies scale back or even halt projects. But it’s an investment for electrify the new talent and ideas to build better future for conducive environment. KUALA LUMPUR, March 1 -- The year 2020 was an agony for Petroliam Nasional Bhd (Petronas) as demand from crude oil unexpectedly fell off the cliff when the COVID-19 pandemic started ravaging the world, said an analyst. • Southern • Sarawak, • Corporate Site June 9, 2020; Photo of Tan Sri Wan Zulkiflee Wan Ariffin (left) and Tengku Muhammad Taufik Tengku Aziz (right) courtesy of Petronas . It is not just an Oil. "I am looking forward to guidance from the group chief executive officer (of Petronas) and he thinks 2021 is challenging but ominously he suggests the industry is in for a great reset due to green energy," said Innes. “Petronas addresses the energy demands of today by leveraging the power of digital as an accelerator, technology as a differentiator and data as an asset,” said Petronas Project Delivery and Technology Senior Vice President Samsudin Miskon. The PIC project is state energy firm Petronas’ biggest investment in Malaysia. Malaysia’s state-owned oil and gas company Petroliam Nasional Berhad (Petronas) announced that its President and Group CEO Tan Sri Wan Zulkiflee Wan Ariffin will be retiring effective June 30, 2020. Our commitment is to conduct and grow business in ways that contribute positively to society and the environment. At the time of writing, crude benchmark Brent rose 1.83 per cent to US$65.60 per barrel, ahead of a keenly anticipated OPEC+ production-setting meeting this week. No.28 Jalan BERNAMA AseanPlus News 15h ago Oil price scales 1 … In the report, Petronas say that it will emphasize on improving transparency in the oil and gas industry, in order to inform further the operators and help them by providing better resources. Earlier this month, Brent oil prices shot past US$60 a barrel for the first time in more than a year  with investors growing increasingly optimistic about demand as the global economy recovers from the COVID-19 pandemic. Malaysian oil and gas company, Petronas, released its Petronas Activity Outlook 2018-2020 in which it announces 50 projects that will take place from 2018 to 2020. Duisburg / Kuala Lumpur (Malaysia), September 11, 2020 – PCC SE and PETRONAS Chemicals Group Berhad (PCG) plan to establish a joint production of specialty chemicals in Malaysia, whereby PCC SE is selling 50% of the shares in its project company PCC Oxyalkylates Malaysia Sdn.
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