Petronas Malaysia

Petronas was founded in 1974 as a state-owned enterprise. It is fully owned by the Malaysian government. The oil development act passed by the National Congress has granted all the rights to own and control Malaysia's oil resources. The company is designated as the development company of all oil and gas in Malaysia, and is required to carry out value-added processing of these resources. Petronas has grown from a pure oil and gas exploration enterprise at the beginning of its establishment to an entity with a wide range of business and value-added ability in many aspects.

After 30 years of development and construction, Petronas has grown into a comprehensive multinational oil and gas company, with three subsidiaries (Petronas Trading Co., Ltd., Petronas Natural Gas Co., Ltd. and Malaysia International Shipping Co., Ltd.), and more than 100 subsidiaries in more than 30 overseas countries, ranking among the world's top 500.

Petronas manages all upstream operations in Malaysia and employs a number of international oil and gas companies to participate in the exploration, development and production of oil and gas in Malaysia through production sharing contracts. Petronas also directly participates in Malaysia's upstream natural gas reserves of 100 million cubic feet through its subsidiary Petronas exploration Co., Ltd. Downstream operations of Petronas include liquefied natural gas and transportation, processing and transportation of natural gas, refining and marketing of petroleum products, trading of crude oil and petroleum products, manufacturing and marketing of petrochemical products, and shipping and related logistics, such as transportation of liquefied natural gas, crude oil and petroleum products.

Petronas' upstream operations focus on strengthening domestic exploration and production business and acquiring new overseas blocks to increase and continue Malaysia's oil and gas reserves. Petronas, through its subsidiary, Petronas exploration Pty Ltd., keeps pace with other multinational production sharing contractors and directly participates in the exploration, exploitation and production of domestic oil and gas. So far, Petronas has signed more than 60 production sharing contracts with international oil companies to participate in the exploration, development and production of oil and gas in the form of profit sharing and cost recovery. Petronas overseas upstream business covers 25 countries.

Petronas' downstream business focuses on expanding its business value chain and strengthening its business operation to create the highest value. Petronas owns and operates two refineries in Malacca and Gedi counties of Malaysia to supply petroleum products to its market. The refined products are not only for domestic sale, but also for export. With Petronas's acquisition of engen Ltd, a major South African oil company, including its refinery in derburn.