Is the Petronas gravy train a slippery slope?


From Seatrade Global, dateline 2013-08-02:

There is no doubt that Malaysia’s national oil company (NOC) Petroliam Nasional (Petronas) is a behemoth in the country’s oil and gas (O&G) industry. But that the initial public offering of a company can be derailed by the suspension of a licence from it just illustrates the size of its influence.

Just over the last week, news broke that Perunding Ranhill Worley Sdn Bhd (PRW), an affiliate of Ranhill Energy has had its Petronas licence suspended for both upstream and downstream projects. Ranhill was on the verge of a MYR753m ($232m) listing on the Malaysian bourse and was to have made its debut on 31 July before being forced to pull the plug at the last minute.

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This entry was posted on Friday, October 4th, 2013 at 6:00 am and is filed under engineering, Malaysia, oil and gas. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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