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 2019-11-15, 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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Dateline 2019-11-07, Malay Mail:
Petroliam Nasional Bhd (Petronas) will continue to push the use of gas as a cleaner source of fuel, compared with solid and liquid fuels.
Its senior vice president (corporate strategy) Mazuin Ismail said this was one of the moves to make sure that the group was working towards placing the right energy mix for the future.
He said gas would also be complementing renewable energy resources as it was abundant, flexible, stable and easy to be transported and reached.
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Dateline 2019-10-30, Reuters:
Malaysia’s energy-rich state of Sarawak will drop a demand for quadrupling royalties paid by energy giant Petronas but is pushing for production-sharing and other agreements, a key negotiator told Reuters on Wednesday.
Sarawak and neighbouring Sabah possess Malaysia’s most prolific oil and gas reserves in their waters in the South China Sea.
Their longstanding royalty demand would cost government-owned Petronas up to $7 billion a year, according to a rough calculation by a person aware of the matter.
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Checked 2019-12-05
Dateline 2019-10-15, NST:
Adif Zulkifli is set to take over the duty of former Petroliam Nasional Bhd executive vice president (EVP) and chief executive officer (CEO) of upstream Datuk Mohd Anuar Taib from Wednesday.
The appointment is one of a few management changes made by the national oil and gas giant after Anuar’s recent departure, according to an internal memo seen by the New Straits Times.
Adif is currently Petronas EVP and CEO of gas and new energy business and will vacate the position for Adnan Zainol Abidin, according to the memo.
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Dateline 2019-10-08, Malaysian Reserve:
THE gradual increase in oil prices is expected to drive a recovery in investment in upstream activities said Kenanga Investment Bank Bhd.
The research house said national oil and gas (O&G) company, Petroliam Nasional Bhd (Petronas), has maintained its capital expenditure (capex) by focusing on the upstream segment despite its commitment to deliver a higher dividend payout to the government.
The investment bank noted there has been an increased flow of engineering/construction jobs in the Middle East, while floater demand has jumped rapidly from South America.
Kenanga added that the benchmark Brent contract price has been showing signs of stability, trading within the US$55 (RM230.62) to US$70 per barrel range throughout the year.
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Dateline 2019-09-20, Nikkei Asian Review:
Malaysia’s state oil company Petronas said on Friday that recent attacks on a key Saudi oil facility will not affect Saudi Aramco’s $7 billion investment in a refinery complex in the southern state of Johor.
Saudi Aramco acquired a 50% stake in the Rapid project’s refinery and cracker plants in 2017, agreeing to supply up to 70% of the crude feedstock for the refinery operations, which are scheduled to begin commercial production later this year.
“We do not foresee any impact on supplies to Rapid from Saudi Aramco,” Petronas President and CEO Wan Zulkiflee Wan Ariffin told reporters in Kuala Lumpur.
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Dateline 2019-09-20, Reuters:
Malaysia’s state-owned energy firm Petroliam Nasional Bhd reported an 8% increase in second-quarter profit on Friday because of a weaker Malaysian ringgit, though that was partially offset by higher product costs.
Petronas, as the company is known, said profit after tax for April-June rose to 14.7 billion ringgit, up from 13.6 billion ringgit ($3.25 billion) in the same period a year earlier.
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Dateline 2019-09-20, S&P Global:
Petronas said Friday that rising sales of petroleum products and LNG helped the state-run Malaysian firm post profit and revenue growth in the first half of 2019, but warned that ongoing trade tensions, sluggish demand and slowing global growth could pose challenges in the second half.
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Wata - Malaysian Oil and Gas Engineer 