Petronas Farms Out Part of Suriname Offshore Block to Exxon
Malaysian oil and gas company Petronas has completed the farm-down of a 50% stake in an offshore Suriname block to a subsidiary of ExxonMobil. The offshore block, known as Block…
Petronas joins World Business Council for Sustainable Development
Petronas, which has joined over 200 forward-thinking companies as the newest member of the World Business Council for Sustainable Development (WBCSD), is confident of contributing more to the global and…
China Backs Down, Pulls Survey Vessel From Malaysian Waters
After a month of tensions in Malaysia’s exclusive economic zone in the South China Sea, a Chinese survey vessel has left Malaysian waters, Reuters reported on Friday, quoting data from Marine Traffic. In…
Malaysia’s Petronas warns of project delays, aims to keep local capex
KUALA LUMPUR (REUTERS) - Malaysian state energy giant Petronas said the risks of delays to some of its projects were rising due to prolonged coronavirus-related lockdowns around the world. Petronas, which operates…
Petronas speculate Dividend to Govt as Energy Prices Tank
Malaysia's state energy giant Petronas, struggling with weak prices and falling demand, said on Friday its own funding needs and debt obligations would dictate any special dividend to the government…
Petronas Posts Lower Profit, Warns of Market Volatility
Malaysian state oil firm Petronas said on Wednesday its fourth-quarter profit slumped 71%, hurt by impairment costs and lower prices of major products. Petronas said profit after tax for the…
Petronas to spend 5% on renewable energy in 2020
One of the world’s largest producers of LNG, Petronas plans to spend 5% of its capex on renewable energy in 2020, signaling the Malaysian oil and gas company’s intent to…
Exxon Mobil Considering Malaysian Upstream Assets Sale
Exxon Mobil is considering a sale of its offshore Malaysia upstream assets as part of U.S. energy giant’s divestiture program, according to people with knowledge of the matter. The company…
Petronas’s 2nd Quarter Net Profit Fell Even Though Plants Were At Full Capacity
Analysts expect earnings to remain under pressure, plant utilization to decline. Malaysian petrochemical company Petronas Chemicals Group said Tuesday its second quarter net profit fell 22.3% due to weaker product prices even…
Petronas Proves Investments In Education To Be Worthwhile
Investment in education is among the most worthwhile investments, according to Petronas Group chief audit executive Asril Rahman Abdul Hadi. Asril said history has shown that knowledge is the key…
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