Petronas

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Petronas Panorama II (4to3)

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Petronas 2013 logo

YosriNov2004StesenMinyakPetronas

Petronas, officially known as Petroliam Nasional Berhad, is a Malaysian multinational corporation that was established in 1974. It is wholly owned by the government of Malaysia and has grown to become one of the world's largest corporations in the oil and gas industry. Petronas is involved in a wide range of petroleum activities, including upstream exploration and production of oil and gas, downstream oil refining, marketing and distribution of petroleum products, and the manufacturing and sale of petrochemicals. The company plays a significant role in the global energy sector and contributes substantially to the Malaysian economy.

History

Petronas was founded on 17 August 1974, in the wake of the 1973 oil crisis, with the aim of managing Malaysia's petroleum resources. The company began its operations by taking over the assets and operations of foreign oil companies that were present in Malaysia at the time. Over the years, Petronas has expanded its operations globally, establishing a presence in over 50 countries.

Operations

Petronas operates through various subsidiaries and has diversified its operations to ensure a stable revenue stream. Its business segments include:

• Exploration and Production - Petronas is involved in the exploration, development, and production of oil and natural gas in Malaysia and internationally.
• Gas and Power - The company is engaged in the processing, liquefaction, and sale of gas, as well as the generation and transmission of electricity.
• Downstream - This segment focuses on refining, marketing, and distributing petroleum products.
• Petrochemicals - Petronas produces a wide range of petrochemical products used in various industries.

Petronas Towers

One of the most iconic symbols of Petronas and Malaysia is the Petronas Towers in Kuala Lumpur. Completed in 1998, these twin skyscrapers were the tallest buildings in the world until 2004. They remain a major tourist attraction and a symbol of Malaysia's economic development.

Sustainability and CSR

Petronas is committed to sustainable development and has implemented various corporate social responsibility (CSR) initiatives, focusing on education, community development, and environmental conservation. The company aims to balance economic growth with environmental stewardship and social responsibility.

Controversies

Like many large corporations in the oil and gas sector, Petronas has faced its share of controversies, including environmental concerns and disputes over oil and gas ownership with neighboring countries. The company actively works to address these issues through dialogue and sustainable practices.

Conclusion

As a state-owned enterprise, Petronas has played a pivotal role in Malaysia's development, transforming the country into a major player in the global oil and gas industry. Its continued focus on innovation, sustainability, and international expansion ensures that Petronas remains at the forefront of the energy sector.