Petronas Q3 profit up on unit IPOs

KUALA LUMPUR: Petroliam Nasional Bhd (Petronas) posted a RM10.1bil jump in net profit for its third quarter to RM23.7bil owing largely to proceeds from the listing of two subsidiaries on Bursa Malaysia but indicated high annual dividends to the Government will need to be cut in the future.

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Oil reserves found off Sarawak’s coast to boost Govt coffers

By SHARIDAN M. ALI
sharidan@thestar.com.my

PETALING JAYA: Petroliam Nasional Bhd (Petronas)’s persistency in exploring for the precious commodity within Malaysia has struck gold with major oil and gas reserves discovered off the coast of Sarawak.
Some 100 million barrels of oil and 2.8 trillion standard cubic feet (tscf) of natural gas were discovered from two exploration blocks there.

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Petronas Chemicals raises 4.1 billion dollars in IPO

Petronas Chemicals raises 4.1 billion dollars in IPO

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Petronas to list Petronas Chemicals Group, total assets RM26.89b

KUALA LUMPUR: Petroliam Nasional Bhd (Petronas) has released the draft prospectus for Petronas Chemicals Group Bhd, formerly Kuantan Terminal Sdn Bhd, which has total assets of RM26.98 billion as at March 31, 2010.

The draft showed Petronas Chemicals posted net profit of RM2.59 billion on the back of RM12.20 billion in revenue for the financial year ended March 21, 2010.

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Tengku Razaleigh Hamzah - Petronas Chairman - Part 1

Summary
- The Interview was conducted in Bahasa Malaysia
- Tengku Razaleigh explained the difficulties and obstacles in the early stages of Petronas and the needs to amend Akta Kemajuan Petroleum 1974.
- Tengku Razaleigh stressed on why the country's wealth and resources belongs to the rakyat.

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Tengku Razaleigh Hamzah - Petronas Chairman - Part 2

Summary
- The Interview was conducted in Bahasa Malaysia
- He explained the structure of oil royalty between federal and states government.
- He gave example on how and what past tin companies had been doing to the country's reserves.
- He again stressed, for the benefit of the country and rakyat, that Petronas must control and manage oil and gas resources properly.
- He had hoped that, with proper training, our own citizen should be given a role to take part and perform in the oil & gas and other related industry as well, not just a spectator.


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Petronas move to list 2 big units welcomed

Analysts say this is good good news for investors, considering that big new listings have been slow in coming to Bursa Malaysia
National oil firm Petroliam Nasional Bhd (Petronas) will list two "sizeable" subsidiaries with good track records on the local stock exchange this year, Prime Minister Datuk Seri Najib Razak said.

Analysts said this was good news for investors, considering that big new listings had been slow in coming to Bursa Malaysia, with sizeable companies like Astro All Asia Networks plc aiming to go private.

Last year, there were just 12 new listings on Bursa Malaysia.

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Petronas Staff Bid Hassan Farewell With Fond Memories

By Siti Hawa Othman

KUALA LUMPUR, Feb 9 (Bernama) -- Petronas is one brand that makes Malaysians proud. And for over a decade, one man has been the face of Petronas, the man we bid farewell on Tuesday.

The mood was mixed with a tinge of sadness as he walked to the foyer of the Petronas Twin Towers, shaking hands with the staff and well-wishers.

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Petronas profit falls on lower sales, oil price

PETROLIAM Nasional Bhd, Malaysia’s state oil company, said first-half profit dropped 48 per cent because the global economic slowdown sapped energy demand and reduced fuel prices.

Net income fell to RM20.29 billion (US$6 billion) in the six months ended Sept 30 from RM38.65 billion a year earlier, Petronas, as the company is known, said in a statement on its Web site. Sales declined 38 per cent to RM98.18 billion.

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Petronas sells stakes in Irish gas fields to Providence

PETALING JAYA: Providence Resources plc is exercising options to acquire 40% stakes in the Kinsale Head Area gas fields plus the adjoining Seven Heads field from Petronas International Corp Ltd, the overseas investment arm of Petroliam Nasional Bhd (Petronas).

Kinsale Head comprises the Kinsale Head, South West Kinsale and Ballycotton gas fields and also gas storage facility in the Celtic Sea.

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