Local O&G players in limbo despite high oil prices

April 21, 2022

Watch for the follow-up.

Dateline 2022-03-14, The Edge:

BRENT crude tested the US$120 band last Thursday before tapering off to the US$110 level at press time on Friday.

Since early last December, the benchmark has strengthened by 61.6%. Thursday’s highs were last seen in 2008, when Brent crude hit US$145 per barrel in mid-July that year.

But there is little reason for local oil and gas firms to celebrate, at least for now, simply because they are still struggling to survive, let alone make handsome profits.

Petroleum Nasional Bhd (Petronas), however, chalked up a profit after tax of RM48.6 billion on the back of RM247.96 billion in revenue for the financial year ended Dec 31, 2021 (FY2021).

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Petronas Dagangan partners with PETROS for liquefied petroleum gas business in Sarawak

February 21, 2022

Dateline 2021-12-13, The Edge:

Petronas Dagangan Bhd (PDB) has signed a heads of agreement with Petroleum Sarawak Bhd (PETROS) to mark the strategic partnership between the two parties in the liquefied petroleum gas (LPG) business in Sarawak.

The partnership includes the divestment of PDB’s LPG business in Sarawak to PetrosNiaga Sdn Bhd (PNiaga), a fully-owned subsidiary of PETROS, and a subscription of shares in PNiaga by PDB.

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Petronas makes U-turn on gas delivery charges

December 15, 2018

Why not just go to another supplier?

Dateline 2018-10-31, FMT:

Petronas Dagangan Bhd has announced that there will be no price increase for its Gas Petronas Home Delivery (GPHD) service and the delivery charges remain the same.

The decision was made after taking into consideration public feedback and concerns on the adjustment of the delivery charges, it said in a statement today.

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