Petronas

Petroliam Nasional Berhad
PETRONAS
Native name
Petroliam Nasional Berhad
Company typeState-owned enterprise
IndustryOil and gas
Founded17 August 1974; 50 years ago (1974-08-17)[1]
Founders
HeadquartersTower 1, Petronas Towers, 50088 Kuala Lumpur, Malaysia
Area served
Worldwide
Key people
Tengku Muhammad Taufik Tengku Aziz (President and CEO)[2]
Mohd Bakke Salleh (Chairman)
ProductsPetroleum, natural gas, petrochemicals, renewable sources, ready range of advanced products and adaptive solutions
Services
RevenueIncrease US$73.01 billion (2023)[3]
Increase US$30.08 billion (2022)
Increase US$17.15 billion (2023)
Total assetsIncrease US$164.40 billion (2023) [4]
Total equityIncrease US$94.28 billion (2023)
OwnerGovernment of Malaysia
Number of employees
47,669 (2020)[5]
SubsidiariesSee subsidiaries
Websitewww.petronas.com

Petroliam Nasional Berhad, commonly known as PETRONAS (stylized in all caps), is a Malaysian multinational oil and gas company headquartered in Kuala Lumpur. Established in 1974, it is a legal entity incorporated under the Malaysian Companies Act 1965 and reports to the company's Board of Directors. The corporation, with a presence in over 100 countries, is vested with all oil and gas resources in Malaysia and is entrusted with the responsibility of developing and adding value to these resources. In the annual Fortune Global 500 list for 2022, Petronas was ranked at 216th. It also ranked 48th globally in the 2020 Bentley Infrastructure 500.[6]

The Financial Times has identified Petronas as one of the "new seven sisters",[7] considered to be influential and mainly state-owned national oil and gas companies from countries outside the OECD. The company is engaged in a broad spectrum of petroleum activities, including upstream exploration and production of oil and gas to downstream oil refining; marketing and distribution of petroleum products; trading; gas processing and liquefaction; gas transmission pipeline network operations; marketing of liquefied natural gas; petrochemical manufacturing and marketing; shipping; automotive engineering; and property investment.[citation needed] Petronas provides a substantial source of income for the Malaysian government, accounting for more than 15% of the government’s revenue from 2015 to 2020.[8]

  1. ^ Petronas celebrates a milestone The Sun Daily (6 August 2019). Retrieved on 2 June 2020.
  2. ^ "PETRONAS Bids Farewell To Tan Sri Wan Zulkiflee As Its President & Group CEO; Welcomes The Appointment Of Tengku Muhammad Taufik As The New PETRONAS' President & Group CEO". Retrieved 7 July 2020.
  3. ^ "Petronas Annual Report FY 2016". 14 March 2017.
  4. ^ "Petronas posts RM3.4 billion net loss in Q3 on assets impairment". 27 November 2020.
  5. ^ "Petronas". owler.
  6. ^ "Bentley Infrastructure 500 Top Owners". Bentley. Retrieved 15 January 2022.
  7. ^ The new Seven Sisters: oil and gas giants dwarf western rivals, by Carola Hoyos, Financial Times. 11 March 2007
  8. ^ "Rating report: Petroliam Nasional Berhad (PETRONAS)". 11 December 2020.