fetching latest news

News tagged in:  

Petronas NEWS

Petronas, Schlumberger explore opportunities in sustainability, digital, IoT, R&D
March 24, 2022
Source: Bernama

Petronas, Schlumberger explore opportunities in sustainability, digital, IoT, R&D

KUALA LUMPUR, March 24 (Bernama) - Petroliam Nasional Bhd (Petronas) has signed a memorandum of understanding (MoU) with Schlumberger WTA (Malaysia) Sdn Bhd (Schlumberger) to jointly explore opportunities in the areas of susta inability,digital and Internet of Things (loT) technologies,as wellas research and development (R&D) projects.

Petronas Wins Indonesian Acreage Close To Previous Discovery
March 22, 2022
Source: Rigzone

Petronas Wins Indonesian Acreage Close To Previous Discovery

Malaysia’s state-owned oil and gas Petronas has been awarded new acreage onshore and offshore East Java in Indonesia’s Petroleum Bid Round 2021.

Mitsubishi, Petronas to exit Myanmar gas
Feb. 21, 2022
Source: I J Global

Mitsubishi, Petronas to exit Myanmar gas

Japanese trading house Mitsubishi has followed suit with its project partner Malaysian state-owned oil and gas company Petronas to step away from a $700 million offshore gas project in Myanmar

Vitol quietly backs Savannah's purchase of ExxonMobil-Petronas assets
Jan. 18, 2022

Vitol quietly backs Savannah's purchase of ExxonMobil-Petronas assets

The Swiss commodities trader Vitol has become a trump card in British junior Savannah's game. In exchange for financial support for Savannah's purchase of ExxonMobil-Petronas's Doba assets, it should end up well placed to market the crude produced there.

Petronas and partners analyse Mexico exploration data
Jan. 17, 2022
Source: Upstream

Petronas and partners analyse Mexico exploration data

A Petronas-led joint venture is analysing the results of the Bacalar-1 offshore exploration well in Mexico. The Malaysian national oil and gas giant has a 60% operated interest in Block 12, with Indonesia's Medco Energi and Thailand's PTT Exploration and Production on 20% each. Medco said in its latest exploration update that post-drill analysis was under way as part of the well evaluation process. Bacalar-1, which is understood to have spudded in August 2021, has so far cost US$52.2 million, added Medco. Petronas had a one-well contract with US-based offshore rig owner Pacific Drilling to use the drillship Pacific Khamsin for an exploration programme in Mexico starting in the third quarter last year.

Petronas strikes third gas discovery at Balingian off Sarawak
Jan. 7, 2022
Source: Energy Voice

Petronas strikes third gas discovery at Balingian off Sarawak

Petronas Carigali, the upstream subsidiary of Malaysian national oil company (NOC) Petronas, has made a gas discovery at the Hadrah-1 wildcat exploration well of Block SK411, located in the shallow waters of Balingian province about 170 kilometres northwest off the coast of Sarawak, Malaysia. The Hadrah-1 well was successfully drilled to a total depth of 1,850 metres in November 2021 and encountered gas within an approximately 200-metre thick sequence of high-quality sandstone and carbonate reservoirs, Petronas said today.

Petronas sees positive outlook for next three years on oil price recovery, pandemic SOP relaxation
Dec. 28, 2021
Source: The Edge Market

Petronas sees positive outlook for next three years on oil price recovery, pandemic SOP relaxation

KUALA LUMPUR (Dec 28): Petroliam Nasional Bhd (Petronas) said on Tuesday (Dec 28) it expects a positive outlook for 2022 to 2024 for the national oil company on a recovery in crude oil prices, as well as relaxation of Covid-19 standard operating procedures (SOPs) and directives besides an increase in plug and abandonment projects for planned retirement of oil and gas wells. Petronas said the information in its latest activity outlook report, which covers 2022 to 2024, is accounted for when a specific activity begins and not by contract award. "The outlook for 2022 to 2024 is based on full-year utilisation. Actual numbers may vary based on campaign durations and/or optimisation, project deferment and cancellation, etc. Actual numbers are based on data as at October 2021.

Schlumberger rolls out enterprise-scale DELFI digital solutions for Petronas
June 2, 2021
Source: world oil

Schlumberger rolls out enterprise-scale DELFI digital solutions for Petronas

Schlumberger announced an enterprise-scale deployment of advanced digital solutions for PETRONAS enabled by the DELFI cognitive E&P environment and integrated with the OSDU Data Platform. These digital solutions will enable PETRONAS to accelerate its field development planning and optimize production performance of its assets.

Petronas to expand its renewable portfolio
Nov. 5, 2020
Source: Reuters

Petronas to expand its renewable portfolio

Petronas announced to become a net-zero emitter of greenhouse gases by 2050. The Malaysian giant said it will increase its effort to reduce the emission of Scope-1 and Scope-2 greenhouse gases in the upcoming years. Earlier this year, Petronas stated that they were already looking to expand its renewable energy portfolio. The dampened demand and low oil prices due to covid-19 made the statement more firm.

Exxon buys 50% stake in Petronas’ exploration block in Suriname
May 21, 2020

Exxon buys 50% stake in Petronas’ exploration block in Suriname

Petronas has completed a 50% farm-down of its participating interest in Block 52 offshore Suriname to ExxonMobil. The block covers an area of 4,749 sq. km, and is north of Paramaribo. Located in the Suriname-Guyana basin, where several major discoveries were made. Petronas’ upcoming exploration activities for Block 52 will involve the drilling of a well during Q3, while acquiring new 3D seismic data to evaluate the block's potential.

Pertamina and Petronas ink crude swap agreement
Feb. 19, 2020

Pertamina and Petronas ink crude swap agreement

Indonesian state-run, PT Pertamina inked a framework agreement with Malaysia's Petronas to sell and buy crude this year. The deal, which was announced through a statement yesterday, will see Petronas and Pertamina swapping crude produced in the Malaysian fields of Kikeh, Kimanis and Kidurong with crude from Indonesian fields of Jabung and Ketapang. The agreement follows up from Petronas and Pertamina's plan last year to exchange crude.

Petronas awards Malaysian offshore block to EnQuest
Dec. 6, 2019

Petronas awards Malaysian offshore block to EnQuest

Production & Development major, EnQuest has secured a production sharing contract (PSC) from Petronas for the Block PM409, offshore Malaysia. Enquest landed the contract through its wholly-owned subsidiary EnQuest Petroleum Production Malaysia (EnQuest) in partnership with Petronas Carigali (PCSB). While EnQuest will have an operating interest in the block with 85% stakes, while PCSB has the remaining 15% interest.

Petronas sets up $350mn venture capital arm
Oct. 5, 2019

Petronas sets up $350mn venture capital arm

Petronas has set up a $350 million venture capital arm. The state firm's newly-launched Petronas Corporate Venture Capital is for industrial and energy investments. "The fund will act as a minority stakeholder in early to growth-stage companies", said the company. Petronas is Malaysia's largest employer and contributor to government revenue. The company has also informed that it is looking for investment opportunities in North America, Europe and Asia Pacific.

Petronas starts naphtha cracking unit at RAPID
June 20, 2019

Petronas starts naphtha cracking unit at RAPID

Sources have informed that Malaysian state-run Petronas and Saudi Aramco have commenced operations at the new 1.2-million-tons-per-year naphtha cracker. The naphtha cracker is integral to the $2.7 billion joint-venture oil refinery and petrochemical project, Refinery, and Petrochemical Integrated Development (RAPID) is located in Pengerang in the state of Johor, Malaysia.

Petronas announces its Q1 2019 Profit
June 3, 2019

Petronas announces its Q1 2019 Profit

Petronas, the leading Malaysian oil and gas company, has announced its results for the first quarter (Q1) of 2019. The company reports a profit after tax (PAT) of about $3.4bn which represents a 9% increase on Q1 2018. Petronas ascribes this rise to higher volumes of sales for petroleum products along with the weakening effect of Malaysian Ringgit against the US dollar.

Petronas buys 50% exploration rights in Petrobras’ fields
April 26, 2019
Source: Reuters

Petronas buys 50% exploration rights in Petrobras’ fields

Malaysian state-owned Petronas has entered into a $1.29 billion deal to buy 50% of Petrobas’ exploration and production rights in Tartaruga Verde field and the Espadarte field. In a statement, the Brazilian state-run firm said that the deal amount will be paid in two installments. The deal is in line with Petrobras’ divestment strategy, under which it has already sold off $11.3 billion worth of assets.

Fire put out at Petronas Refinery
April 12, 2019
Source: Reuters

Fire put out at Petronas Refinery

Fire safety authorities, today, put out a fire at a Malaysian oil refinery owned by state-run oil major, Petronas. An explosion occurred early morning at the Refinery and Petrochemical Integrated Development (RAPID). A testing procedure was ongoing at the project for planned commercial operations later this year. RAPID is a 50-50 joint-venture between Petronas and Saudi Aramco.

Petronas registers 22% hike in net profit
March 9, 2019
Source: NST

Petronas registers 22% hike in net profit

Malaysian state-run Petronas yesterday released earnings report for the 2018 financial year. The oil major registered 22% hike in profits, to RM55.3 billion in the financial year ended Dec 31, 2018 (FY18) from RM45.5 billion in 2017. President and group chief executive officer of Petronas said that the strong financial performance of the company in 2018 came from its current initiative to enhance operational efficiency and commercial excellence.

Please Login to Save News for Later