Please confuse them with us.
Dateline 2019-11-28, Coatings World:
IGL Coatings was invited to attend the preview & demo day of the PETRONAS FutureTech Accelerator 2019.
During the 2 days event, IGL Coatings will be promoting the eco-friendly brand to hundreds of Petronas & 500 Startups personnel aside from the public attendees.
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Dateline 2019-11-25, Bernama:
Petroliam Nasional Bhd (Petronas) today confirmed that the Sarawak government and the comptroller of state sales tax have filed a lawsuit against it over the alleged failure to pay sales tax to the state.
“Petronas confirms that the comptroller of state sales tax of Sarawak and the Sarawak state government have filed an action against Petronas before the High Court of Kuching on Nov 21, 2019, for non-payment of the Sarawak sales tax on petroleum products,” the national oil company said in a statement.
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But, still laying golden eggs, yes?
Dateline 2019-11-26, Reuters:
Malaysia’s state energy firm Petroliam Nasional Bhd said on Tuesday its third-quarter profit nearly halved due to lower demand and impairment charges, and warned of further risks to demand.
Profit for the July-September period at Petronas, as the company is better known, dropped to 7.4 billion ringgit ($1.77 billion) from 14.3 billion ringgit a year before.
Net impairment charges totalled 2.6 billion ringgit, while revenue fell 14% to 55.1 billion ringgit, hurt by lower prices and reduced sales volume for crude oil and condensates.
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Recently?
Dateline 2019-11-22, Lowyat.net:
Over the years, it was planned for Malaysia to have its own nuclear power plant to cope with our country’s high energy consumption. Recently, the Ministry of Energy, Science, Technology, Environment and Climate Change (MESTECC) has decided not to pursue nuclear energy in Malaysia.
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Dateline 2019-11-21, Reuters:
State oil company Petronas said its massive refinery and petrochemicals complex in southern Malaysia, a $27-billion joint venture with Saudi Aramco, will start commercial operations as planned by the end of the year, dismissing a report of a delay.
The refinery’s atmospheric residue desulphurisation (ARDS) unit, hit by a fire in April, will begin operation by mid-2020, Petronas said in an email late on Wednesday.
“Petronas would like to clarify that its Pengerang Integrated Complex is in the middle of start-up activities and expected, as planned, to be in commercial operations by end of 2019,” it told Reuters.
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Dateline 2019-11-21, Reuters:
Malaysia’s state of Sarawak filed a writ summons and statement of claim against national energy firm Petroliam Nasional Bhd on Thursday to recover taxes owed, according to media reports.
National news agency Bernama reported that the company, better known as Petronas, was said to be the only oil and gas company operating in the state that had not paid the 5% state sales tax imposed at the start of this year.
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Dateline 2019-11-19, NST:
Petronas Gas Bhd’s net profit for the third quarter (Q3) decreased 13.64 per cent to RM431.59 million from RM499.81 million recorded in the same quarter a year ago, due to lower revenue and higher repair and maintenance costs.
Revenue for the quarter ended September 30, 2019 was lower at RM1.338 billion as compared with RM1.402 billion previously. It announced an interim dividend for the third quarter of 18 sen per share.
“We are focusing our effort to become the solutions partner to our customers while sustaining good operational performance at all of our assets. The Turnaround activities are to ensure assets integrity, while rejuvenation will extend the assets’ useful life for another 20 years,” PetGas managing director and chief executive officer Kamal Bahrin Ahmad said in a statement today.
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Dateline 2019-11-19, NST:
Malaysia’s Pakatan Harapan (PH) government and Kelantan state are in a tussle over some RM1 billion (S$330 million) a year demanded by the east coast state, in a tug of war over “oil royalties” that may well decide the political future of the east coast state.
Parti Islam SeMalaysia (PAS), a federal opposition party that has controlled Kelantan for 29 years wants the funds from Prime Minister Mahathir Mohamad’s government, as promised in PH’s election manifesto.
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Dateline 2019-11-15, Malay Mail:
Petroliam Nasional Bhd (Petronas) is still negotiating with Sarawak government with regard to payment of the five per cent petroleum products sales tax that it owes to the state, said its chairman Datuk Ahmad Nizam Salleh.
He said the negotiations also involved the federal government.
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Dateline 2019-11-19, Malaysia Chronicle:
MALAYSIA’S only company in the Fortune 500 list has sometimes been touted as a listing candidate for the government – if it needs to raise funds. However, the listing exercise of Saudi Aramco – the national oil and gas arm of Saudi Arabia – underlines why a listing of Petronas is not a good idea and will probably not yield the desired results.
The prospectus of the much-awaited listing of Saudi Aramco was released last Saturday. The 658-page report had a lot of details on the workings of Saudi Aramco, its reserves and the reserves of the kingdom, the plans going forward, profitability, prospects and risks.
The company devoted more than 10 pages to the various risks it faces for its operations. It ranged from regional political conflict to demanding market conditions and constraints of it being a company that is owned by the government and being asked to undertake works outside its core business.
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Wata - Malaysian Oil and Gas Engineer 