Please, someone tell me why PETRONAS would want to sell off one of their cash cows and their talent pool for upstream engineering. Selling off Carigali would mean the PETRONAS may be the only National Oil Company without an Operating Company. Can you say ‘ATM machine’?
And does MIDF have an ulterior motive in starting such rumours?
Taken from the Star, dateline 2010-12-25:
National oil company Petroliam Nasional Bhd (Petronas) has shot down market talk that it will list wholly-owned exploration and production unit Petronas Carigali Sdn Bhd.
“We have no plans to list Petronas Carigali or any other unit,” a Petronas spokesperson told StarBizWeek when contacted yesterday.
Several business dailies yesterday quoted MIDF Amanah Investment Bank Bhd research head as saying that Petronas Carigali could list on Bursa Malaysia next year in a move to draw foreign funds.
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Wata - Malaysian Oil and Gas Engineer 