PETRONAS Case Study

Petroliam Nasional Berhad short form as PETRONAS is a type of oil and gas’s company in Malaysia that was set up on 17 August 1974. According to the Fortune, PETRONAS is one of the corporations in Global 500 's largest corporations in the world and ranked as the 69th largest company in the world in 2014.
PETRONAS started operating, there an only 15 people and only two phone lines in their company. At that time, PETRONAS does not have regular office so they operate on the premises of the Prime Minister’s Department. In the year 1976, PETRONAS had signed their Production Sharing Contract (PSC). Therefore, PETRONAS transformed their concession system governing the oil exploration and exploitation more to the equitable PSC system. Afterward, PETRONAS

In year 1991, PETRONAS first successful international venture into Vietnam, it means that the marked the beginning of their globalization journey. PETRONAS Twin Towers had a groundbreaking ceremony took place in 1992. The towers have the foundations at 120 meters was designed by Argentine American architect Cesar Pelli. PETRONAS have received delivery of their first commissioned LNG carrier in 1994 in France. PETRONAS Dagangan Berhad and PETRONAS Gas Berhad were the PETRONAS’ wholly-owned subsidiaries added to the Kuala Lumpur Stock Exchange (KLSE) in 1994 and 1995 respectively. PETRONAS was partnered with the Red Bull Sauber PETRONAS F1 Racing Team first foray into the F1 arena in 1995. It is an opportunity to gain valuable brand exposure and propelled advances in their fuel and lubricant R&D. PETRONAS first discovery Ruby oil field in 1998 in Vietnam. It is an achievement that brings PETRONAS to become a major oil and gas industry player. In the years 1998, PETRONAS innovated the first Malaysian natural gas that was powered prototype taxi, the Enviro 2000. Fourth Prime Minister of Malaysia, YAB Tun Dr. Mahathir Mohamad, was opened the PETRONAS Twin Towers on 1 August

In December 2013, PETRONAS have signed their 100th active Production Sharing Contract (PSC). There were the most number of active PSCs since the PSC system was introduced. PETRONAS Set up Vestigo in 2013 is in order to adapt a changing operating landscape. It is a small and marginal field specialist to ensure their tap into the full potential of Malaysian basins. The MERCEDES AMG PETRONAS F1 team wins a series of podium in the 2014. This race is not only celebrating the achievement by their technology team while helping them to produce better fuel. In order to improve their racing fuel, PETRONAS applied to fuel that can give customers better fuel efficiency, cleaner engines and cost