PETRONAS , short for National Petroleum Berhad (National Petroleum, Limited), is a Malaysian oil and gas company established on August 17, 1974. It is fully owned by the Malaysian Government, the company is held with all oil and gas resources in Malaysia and is entrusted with the responsibility of developing and adding value to these resources. Petronas is among the world's largest Fortune Global 500 companies. Fortune has placed Petronas as the 75th largest company in the world by 2013. Fortune has also placed Petronas as the 12th most profitable company in the world and most profitable in Asia.
Since its founding, Petronas has evolved into an international oil and gas company integrated with business interests in 35 countries. At the end of March 2005, the Petronas Group comprised 103 wholly owned subsidiaries, 19 partially owned clothing and 57 associated companies. Together, these companies create the Petronas Group, which is engaged in various oil and gas-based activities. The Financial Times has identified PETRONAS as one of the "seven new sisters": the most influential national and state-owned oil and gas company of countries outside the OECD.
The group is involved in a broad spectrum of petroleum activities, including upstream exploration and oil and gas production to downstream oil refineries; marketing and distribution of petroleum products; trading; processing and liquefaction of gas; gas transmission pipeline network operation; marketing of liquefied natural gas; manufacturing and marketing of petrochemicals; delivery; Automotive Engineering; and property investment.
PETRONAS provides a substantial source of income for the Malaysian government, with half of the government budget dependent on PETRONAS dividends, especially in 2011 the actual balance of the government has a 5 per cent Gross Domestic Product deficit.
The company is headquartered in the Petronas Towers which officially opened on the 42nd National Day of Malaysia, August 31, 1999 - in the 24th year of the corporation.
Video Petronas
History
Prior to the establishment of Malaysia, Royal Dutch Shell first started oil exploration in Miri, Sarawak; after Rajah Charles Brooke signed the First Petroleum Mining in 1909. In 1910, the first oil well was drilled in Miri. This oil well known as Grand Old Lady. In 1929, oil was discovered in Brunei. There were no other drilling activities in Borneo or British Malaya until the 1950s. In 1966, the enactment of the Oil Mining Law gave Exxon and Shell the right to explore the oil region and generate oil royalties and tax payments to the government. In the late 1960s, Esso and Continental Oil were given concessions to explore oil off the coast of the eastern coast of Peninsular Malaysia. In 1974, Malaysia's crude oil production reached about 90,000 barrels per day (14,000 m 3 /d) to 99,000 barrels per day (15,700 m 3 /d).
Setting up state oil and gas companies: 1970s
Several factors converged in the early 1970s to encourage the Malaysian government to establish state oil and gas companies. In 1972, the price of oil per barrel was US $ 1.50, which then rose to US $ 2.28 per barrel. The war in the Middle East and the oil embargo by the Organization of Petroleum Exporting Countries (OPEC) has caused the price of a barrel to rise to US $ 12.00, thus giving Malaysia more incentives to establish its own oil company. Some countries such as the United Arab Emirates, Egypt, and Indonesia have adopted profit-sharing agreements rather than concession systems for the distribution of oil revenues. The Malaysian government also believes that foregin oil companies do not inform the government well about oil exploration activities in their respective concessions (such as new oilfield discoveries), resulting in a loss of revenue for the government. The formulation of Malaysia's New Economic Policy in the early 1970s encouraged Malaysians to control many mordern industries and to open more economic opportunities for the native Malaysian people.
Former Sarawak chief minister Tun Abdul Rahman Ya'kub was one of the first to propose the idea of ​​Malaysia establishing an oil company in 1971. This was due to pressure from the Sarawak people who sought to clarify the exact boundaries of the Sarawak waters territorial. In fact, since the establishment of Malaysia in 1963, the problems of the waters of the Sabah and Sarawak region have not been fully addressed, leaving the interpretation wide open. The Sarawak government has stated that territorial waters exceed the three-mile limit set by the Malaysian federal government. However, Abdul Rahman Ya'kub is reminded of the actions of Tun Abdul Razak who placed him as Sarawak's chief minister. Therefore, Rahman decided to keep the conflict as low as possible. Rahman's nephew Abdul Taib Mahmud assumed the role of federal minister and minister of mining after Rahman became Sarawak's chief minister. Taib believes in the distribution of oil royalties between the state and the federal government. During this time, the oil mining activities in Sarawak are still under Shell's exclusive control. Taib Mahmud initially advised to allow independent contractors to market government oil. Taib found a Lebanese merchant to buy Malaysian oil, but the contractor failed to make a payment, resulting in a loss of US $ 4 million. The government hydrocarbon committee was subsequently formed. Taib Mahmud visited Indonesia and discussed with Pertamina (Indonesian state oil and gas company). Taib suggested that Malaysia cancel the concession system and replace it with a profit-sharing agreement. However, there is no law allowing Malaysia to take back the concessions without paying compensation to foreign oil companies. Nevertheless, Taib decided to establish a legal entity named "HIKMA" (Malaysian Hydrocarbon), which will have the total oil rights found in the territorial waters of Sabah and Sarawak. However, Rahman Ya'kub protested against his niece's decision and threatened the federal government to prosecute if Sarawak was left out of this oil deal. Tengku Razaleigh Hamzah (head of the National Berhad Foundation (PERNAS)) visited Rahman at his last private residence. Tengku Razaleigh suggested the formation of a company rather than a legal entity in which the first would distribute the same profits between the federal and state governments. Rahman agrees with the suggestion. Tengku Razaleigh drafted the Petroleum Development Law Together with his colleagues in secret, as ordered by Tun Razak, and will be completed before the 1974 Malaysian elections. Rahman Ya'kub then telephoned Tengku Razaleigh to inquire about the terms offered by the Malaysian federal government. Tengku Razaleigh then told Rahman about the abolition of the concession system. Meanwhile, 5% oil royalties will be given to oil-producing countries respectively. Rahman agrees with the deal.
In 1974, the Oil Development Act was drafted in parliament and approved. PETRONAS was founded on August 17, 1974 and Tengku Razaleigh became its first chairman. Initially, Exxon and Shell refused to hand over their concessions and refused to negotiate with PETRONAS. PETRONAS then gave notice to all foreign oil companies that after April 1, 1975, all foreign oil companies would operate illegally in Malaysian waters if they did not start negotiations with PETRONAS. After several rounds of negotiations, foreign oil companies finally handed over their concessions to PETRONAS. While all other oil-producing countries in Malaysia have signed oil agreements, Tun Mustapha, Sabah's top minister, has stubbornly refused to sign oil agreements, complaining of a small 5% oil royalty. Mustapha asked for 10 to 20% of oil royalties, otherwise he would threaten to withdraw Sabah from Malaysia. Tengku Razaleigh refused to enlarge. The federal government of Malaysia then made another deal with Datuk Harris Salleh (who was disliked by Tun Mustapha) to establish a GREAT party and drive Tun Mustapha out of power. However, Harris is reluctant to become Sabah's chief minister and Donald Stephens is asked to occupy the ministerial post if BERJAYA reigns. BERJAYA successfully toppled Tun Mustapha in 1976 state election of Sabah. One week after the 1976 air crash that killed chief minister Donald Stephens and five other state ministers, Harris signed an oil agreement. With Sabah entering an oil agreement, PETRONAS finally has full control over all oil and gas reserves in Malaysia.
PETRONAS went downstream for the first time in 1976, when it was elected by the Association of Southeast Asian Nations (ASEAN) to begin development on the second joint ASEAN industry project, an urea plant. The subsidiary, Asean Bintulu Fertilizer (ABF), is based in Sarawak and is now exporting ammonia and urea to the world.
Also in 1976, Malaysia became a net exporter of oil, but exports were at such a low level that it made the country ineligible to join OPEC. This situation benefits Malaysia, and PETRONAS, by enabling the company's level of commercial and political flexibility and reinforcing PETRONAS's ultimate goal, Malaysian independence.
PETRONAS oversees the oil activities of its foreign partners, did not take a direct role in production until 1978, when the government saw the creation of a subsidiary for oil exploration and production, PETRONAS Carigali. It started working in the oilfields of the Peninsula. PETRONAS maintains its oversight power over all oil and gas businesses, especially on health and safety issues and environmental control.
Combating oil depletion: the late 1980s
Fortunately for Malaysia, exploration is by no means over and has not been able to generate more reserves. The Seligi Field, which began operations in late 1988 and developed by Esso Productions Malaysia, is one of the richest oil fields found so far in Malaysian waters, and further concessions to majors will encourage deeper water exploration around Malaysia, where the reserves the unknown can be found. In the meantime, computerized seismography makes it commercially feasible and justifiable to explore the fields that have been abandoned, or considered unproductive, over the past century. In 1990, PETRONAS invited foreign companies to explore parts of the high seas of Sabah and Sarawak based on a new survey using the latest techniques.
Another way to delay depletion is to develop a source of oil, and a substitute for its natural gas, outside Malaysia. Late in 1989, the governments of Vietnam and Myanmar (Burma) invited PETRONAS Carigali to take part in a joint venture to explore oil in their coastal waters. In 1990, a new unit, PETRONAS Carigali Overseas Sdn Bhd, was created to take 15% interest in the field in Myanmar waters explored by Idemitsu Myanmar Oil Exploration Co. Ltd., a subsidiary of Japanese company Idemitsu Oil Development Co. Ltd., in a production sharing arrangement with Myanma Oil and Gas Enterprise. So began PETRONAS's first oil exploration outside Malaysia. In May 1990, the governments of Malaysia and Thailand settled a long-term dispute over their respective rights to a 7,300 square kilometer area of ​​the Gulf of Thailand by establishing a joint administrative authority for the region and encouraging joint oil exploration projects by PETRONAS, the Thai Petroleum Authority, and US company, Triton Oil. In a separate agreement, in October 1990, the Petroleum Authority of Thailand was arranged with PETRONAS to study the feasibility of natural gas transfers from these jointly managed areas, through Malaysia to Thailand, by extending the pipeline laid for the third phase of the Peninsula Gas Utilization Project.
The project is on track to become a major element in the delay of oil depletion. The contract for pipeline for the second phase of the project was signed in 1989 with two consortiums of Malaysian, Japanese and Brazilian companies. This stage, completed in 1991, included the laying of 730 kilometers of pipelines through to the tip of the Peninsula, from which gas could be sold to Singapore and Thailand; conversion of two power plants - Port Dickson and Pasir Gudang - from oil to gas; and expansion of PETRONAS methyl tert-butyl ether (MTBE), propylene, and polypropylene, which have been produced in a joint venture with Idemitsu Petrochemical Co. from Japan and Neste Oy from Finland. The third and final stage of the project is to build a pipeline along the northwest coastline and northeast of the Peninsula and completed in 1997.
Another new venture in 1990 was ship ownership, as the existing arrangements by PETRONAS with MISC and with the Nigerian state oil company would not be sufficient to transport additional LNG exports which would begin in 1994, under contract with Saibu Gas. PETRONAS did not forget the government's commitment to Malaysian independence, and the two companies' oil refineries in Malacca, completed in 1994, with a capacity of 100,000 barrels per day (16,000 m 3 /d), promoting the same policy. The fact that it was built in a joint venture with Samsung Korea, China Petroleum Corporation of Taiwan, and Caltex of the United States does not abolish the policy, for its subsidiary PETRONAS Screening (Melaka) owns 45% of decisive equity while sharing the enormous cost and acquiring advanced technology for the project. More importantly, the side effect of the refinery's completion is that PETRONAS is able to repair all crude oil produced, rather than partly depending on the purification facility in Singapore.
PETRONAS, with its policies to promote independence, help develop related industries, and diversify the sources and use of oil and gas, plays an important role in the Malaysian economy as a whole. Under current, if not historical, Western standards - highly interventionist, the contribution of the oil tax to federal government revenues ranged from 12% to 16% to 1980, when it showed a marked increase of 23%. , followed by another jump to 32% in 1981. From that time until 1988, the proportion fluctuated between 29% and 36%. PETRONAS is not just another big oil company: it controls an important and fixed economic sector, good or bad, an indispensable state instrument.
Growing globally: the 1990s and beyond
During the mid to late 1990s, international exploration, development and production remained a key component of PETRONAS's strategy along with diversification. The key discovery was made in the Ruby field in Vietnam in 1994. That year, the company also saw its first overseas production from the Dai Hung field in Vietnam and established its first retail station outside Malaysia in Cambodia. In 1995, a subsidiary was established to import, store, and distribute liquefied petroleum gas (LPG). In addition, the company's polyethylene plant in Kerteh started operations. PETRONAS marked an important milestone during this period - two of its subsidiaries, PETRONAS Dagangan Bhd and PETRONAS Gas Bhd, went public on the Kuala Lumpur Stock Exchange. Between 1993 and 1996, he purchased the former sub-Saharan branch of Mobil Oil, renamed Engen Petroleum.
In 1996, PETRONAS entered the aromatic market by way of a joint venture that created Aromatics Malaysia Sdn Bhd. It also formed a contract with China National Offshore Oil Corporation and Chevron Overseas Petroleum Ltd. to start exploration block 02/31 from Liaodong Bay area in China. While the Asian economies as a whole suffered from the economic crisis of 1997 and 1998, Malaysia rapidly recovered due to successful government reforms. From its new headquarters in the PETRONAS Twin Towers, the country's concern continues its development in the oil and gas industry. Immediately Liberty Group India buys 1% stake in Petronas
During 1997, PETRONAS increased its diversification efforts. The company plans to build three petrochemical plants in Kuantan as well as an acetate facility in Kerteh. The first LPG joint venture in China was launched that year and the company acquired a 29.3% stake in Malaysia International Shipping Corporation Berhad (MISC). In 1998, a subsidiary of PETRONAS tankers joined the MISC, increasing PETRONAS's ownership in MISC to 62%. That year, PETRONAS introduced Petronas E01, the country's first commercial prototype machine. The company also signed a total of five new production sharing contracts (PSCs) in 1998 and 1999, and started oil production in the Sirri field in Iran.
PETRONAS enters a new century determined to expand its international efforts. The company forged a deal for two new exploration plots in Pakistan and began building the Chad-Cameroon Integrated Oil Development and Development Project. In 2002, PETRONAS has signed seven new PSCs and secures stakes in eight exploration blocks in eight countries, including Gabon, Cameroon, Niger, Egypt, Yemen, Indonesia and Vietnam. The company also made major advances in petrochemical strategies, opening new gas-based petrochemical facilities at Kerteh and Gebeng.
In 2003, Malaysia is set to seize Algeria as the second largest LNG producer in the world with the completion of Malaysia's LNG Three Plant. Prime Minister Mahathir Mohamad commented on the achievements in the Bernama News Agency article in May 2003, claiming that "the PETRONAS LNG complex now serves as another brilliant example of a vision embodied in national aspirations, transformed into reality by the same belief among Malaysians that" we can do it. "" Indeed, PETRONAS has transformed itself into a global oil company over the past decade, becoming a national symbol for success. However, companies recognize that they must continue their aggressive growth strategies to ensure their survival in the coming years.
PETRONAS's overseas expansion drive continued with the acquisition of Mauritania's assets Woodside Energy Ltd. for $ 418 million in 2007. This effort proved successful when they discovered oil in May 2008
In 2004, the Minister at the Prime Minister's Department, Datuk Mustapa Mohamed, stated that PETRONAS donated RM 25 billion to state treasury accounting for 25% of revenue collected through dividends and other revenues. PETRONAS continuously gives dividends to the Malaysian government from its profits. Since it was founded in 1974, PETRONAS has paid the government RM 403.3 billion, with RM 67.6 billion in 2008. The payments represent 44% of the 2008 federal government revenue. PETRONAS continues to focus on international exploration projects because 40% of revenues in 2008 came from international projects such as Iran, Sudan, Chad and Mauritania. The company's international reserves totaled 6.24 billion barrels of oil equivalent in 2008.
On October 29, 2012, PETRONAS sources said it would renew its offer for gas producer Progress Energy Resources after Canada blocked its offer earlier in the month. The $ 6-billion bid was approved by Ottawa on December 7, 2012.
On January 17, 2013, PETRONAS issued a statement that the discovery of oil and gas on land has been conducted in the state after drilling a testing well about 20 kilometers away from the town of Miri in northern Sarawak. The well was found to have a net hydrocarbon thickness of 349 meters. It has a flow rate of 440 barrels of crude oil per day and 11.5 million standard cubic feet of gas per day. This finding is the first landfill discovery in Malaysia in 24 years.
On May 2, 2015, PETRONAS completed the acquisition of its oil and gas assets in Azerbaijan from Statoil in Norway for US $ 2.25 billion.
Plagued by excess oil in 2010, PETRONAS reported on Feb. 26, 2015 that it cut its 2015 capital expenditure after reporting a fourth-quarter loss of $ 2 billion, its first loss since it began reporting quarterly results five years ago.
On April 1, 2017, PETRONAS 'PFLNG ONE, the world's first floating liquefied natural gas (LNG) facility, has reached a new milestone by loading its first successful cargo in Kanowit gas field, off Bintulu beach, Sarawak. PFLNG ONE will complement PETRONAS 'global LNG portfolio, making it a leader in FLNG technology and enhancing its reputation as a selected and reliable LNG supplier.
On July 25, 2017, PETRONAS canceled a US $ 36 billion liquefied natural gas (LNG) project, Northwest Pacific LNG, considered ambitious and a priority in the Canadian province of British Columbia. Both the company and the province blamed the poor global LNG market.
Maps Petronas
Company logo
The Petronas logo was created in 1974 by Dato Johan Ariff of Johan Design Associates. He is also responsible for creating Logos from many subsidiaries of Petronas, JV, link and property companies, including Kuala Lumpur City Center (KLCC), MISC, MMHE, Universiti Teknologi PETRONAS (UTP), Kuala Lumpur Convention Center, Putrajaya Holdings, Pangeran Court Medical Center (PCMC), PETLIN, Malaysian Petroleum Club and Mesra Mall, to name a few.
logo concept
Its basic structure is geometric, manifesting alphabetic and metaphorical alphabet shades from a drop of oil and typography 'P', the last seen in a triangle placed in the upper right corner. The triangle is also an important element for defining the direction and dynamic movement. The solid circle placement within the Logo is interpretive if the oil and gas industry wheel while the outline drop simulates the driving system, the energy derived from the oil.
The color of the company chosen for the emerald-green logo, a clear reference to the ocean from which oil and gas are drilled.
The company logo type, named "Alpha PETRONAS", is designed in large capital letters specifically for Petronas and its subsidiaries. Each alphabet is given with a round profile to assume fluidity and viscosity, while emphasizing oil-based operations.
Refreshed logo
In 2013, Petronas introduced a fresh version of its company logo at the 2013 Asia Oil and Gas Conference (AOGC 2013). The new "look and feel" has been incorporated into Petronas's original oil drop logo to reflect the visual expression of Petronas' Group Positioning, energy re-concept (TM). The fresh logo is part of the group exercise to reinforce the visual potential of the Petronas company icon by making it more contemporary while building the existing equity and heritage of Petronas brands.
In essence, the refreshed logo symbolizes the growth and development of the Petronas brand. Petronas was established during the oil and gas crisis in the early 1970s. Over the years the focus has been on building business and operational capabilities and continuing to seek more efficient and better methods of managing and adding value to Malaysia's oil and gas resources and meeting increasing energy needs. This challenging spirit has pushed Petronas from becoming a Malaysian hydrocarbon resource manager to become a fully integrated multinational oil and gas company. This organization is one of the earliest national oil companies (NOCs) to explore globally that has inspired many other NOCs to join the global oil and gas arena, changing the dynamics of the oil and gas industry today. PETRONAS will continue to play an active role in oil and gas by focusing on collective efforts to do things differently by challenging industry norms to achieve long-term sustainable growth. Along the way, Petronas has ensured that people benefit from their activities through business and employment opportunities, education sponsorships and quality products and services.
The updated version is the third generation Petronas logo. The original Petronas logo was developed in 1974 when Petronas was first incorporated. The basic structure consists of a feature of oil drops and the symbol "P" which delivers its core business in oil and gas, and the dynamics of the company. At the center of the oil drop is a solid circle representing the complete cycle or value chain of the oil and gas industry. Meanwhile, the emerald green Petronas emerald represents the oceans and land where oil and gas come from. A softer curve of a fresh logo has been added to a drop of oil that represents a continuous stream that symbolizes Petronas' encouragement for challenging advancement and passion in meeting the energy demands and expectations of its stakeholders. Petronas names have been repositioned under oil fall and fonts have been honed to increase visibility and clarify the decline of oil in the logo.
Subsidiaries
PETRONAS has more than 100 subsidiaries and about 40 Joint Venture companies in which PETRONAS owns at least 50% of the shares in the company. Although PETRONAS is considering enrolling more of its subsidiaries, the company has so far registered at least 3 subsidiaries in Bursa Malaysia.
Engage in the distribution and sale of ready-made petroleum products and service station operations for the domestic market. The company has more than 800 gas stations throughout Malaysia in July 2007 and further increased to 870 stations in January 2008
The company has also been working with local food and beverage companies, banks and transport companies to provide better service at their gas stations. Companies include McDonald's, Kentucky Fried Chicken, Dunkin 'Donuts, Transnational Berhad Consortium, Maybank, and CIMB Bank.
PETRONAS Gas Berhad
Engaged in providing gas processing and transmission services to PETRONAS and its customers as a throughput company. Own and operate the Peninsula Pipeline Gas which is 2,550 kilometers long and runs from Kerteh in Terengganu to Johor Bahru in the South and Kangar in North Peninsular Malaysia.
MISC Berhad
Engage in vessels that have ships, ship operations and other logistics as well as maritime transport services and activities. It currently has the largest fleet of LNG vessels
KLCC Properties Berhad
Engaged in the development and management of the Kuala Lumpur City Center project that includes the Petronas Twin Towers, Exxon Mobil Tower and KLCC Park. Other properties under his care include the Dayabumi Complex located near the Merdeka Square.
PETRONAS Chemicals
PETRONAS Chemicals is the newest publicly listed company. The IPO was conducted on November 26, 2010 with investors rising approximately US $ 4.40 billion, effectively becoming one of the largest IPO exercises in Southeast Asia.
This business is the largest producer and seller of petrochemicals in Southeast Asia. Products include olefins, polymers, fertilizers, methanol and other basic chemicals and derivative products.
Marine and Heavy Engineering Malaysia
MMHE registered on 29 October 2010 with MYR 1 billion increase in its IPO practice.
The business builds offshore structures for oil and gas applications, helps repair large vessels and converts ships into storage of Floating and offloading production as well as FSO.
Other major subsidiaries
Some of the key subsidiaries are: -
- PETRONAS Carigali Sdn Bhd - Main Hydrocarbon Exploration Arm
- E & amp; P & amp; M Service Sdn Bhd (EPOMS) - Main Oil & amp; Gas Maintenance Services - FPSO Project Phase 2 Cendor, Bertam, Sepat, Layang, Gumusut-Kakap.
- PETRONAS Foreign Govt Sdn Bhd - Hydrocarbon exploration arm aimed at finding new blocks in international area
- PETRONAS Research Sdn Bhd - Conducting research and development
- MITCO Sdn Bhd - International trade of non-oil assets
- Pupuk Petronas Kedah - Creating urea fertilizer
- PETRONAS Methanol (Labuan) Sdn. Bhd. (PMLSB) - Methanol Factory
Others include Asset PETRONAS Sdn Bhd; PETRONAS Maritime Services Sdn Bhd; PETRONAS Selenia (OEM Oil for FCA); PETRONAS Trading Corp. Pte Ltd; PETRONAS Argentina S.A.; PETRONAS Australia Pty Ltd.; PETRONAS Thailand Co. Ltd.; PETRONAS Energy Philippines Inc.; PETRONAS Cambodia Co. Ltd.; Technical Services PETRONAS Sdn Bhd; Technical Solutions Group PETRONAS Sdn Bhd; PETRONAS South Africa Pty Ltd; PETRONAS India Holdings Company Pte Ltd.; PETRONAS China Co. Ltd.; PETRONAS International Corp. Ltd.; PETRONAS Marketing Thailand Co. Ltd.; Myanmar PETRONAS Trading Co. Ltd.; PETRONAS Marketing (Netherlands) B.V. and Indianoil Petronas
Motorsport
PETRONAS is one of the main sponsors of BMW Sauber Formula One team with Intel, and supplying lubricants and fuel to the team. It also owns 40% of Sauber Petronas Engineering, the company that built the chassis that previously used the Ferrari designed engine used by the Sauber team, until it was purchased by a German motorcycle company, BMW. PETRONAS is also a major sponsor for the Malaysian Grand Prix, and co-sponsor of the Chinese Grand Prix, and the first Korean Grand Prix. PETRONAS is the exclusive premium partner of Sauber Petronas (1995-2005) and BMW Sauber F1 Team (2006-2009). BMW has acquired the controlling stake of former Technique Petrogas Sauber, but left the sport after the 2009 season. On December 21, 2009, PETRONAS was confirmed as a move from BMW Sauber to the newly formed Mercedes Grand Prix team.
In terms of further Formula One engagement, PETRONAS each year brings BMW Sauber's team to different parts of Malaysia for the F1 demo so that the public that can not go to the track itself gets a little experience of what F1 is offering. Other promotional events are held in the race and the racers play an integral role in this so Nick Heidfeld recognizes that there are more fans for BMW Sauber in Malaysia than in most other countries.
As part of its corporate social responsibility program, PETRONAS also brings in underprivileged children to watch the race.
PETRONAS also sponsors the Malaysian Cub Prix race. It also sponsors many events and other sports teams, mostly motor sports. Some of these sponsors include PERT (Petronas EON Rally Team), the now-defunct Foggy Petronas Superbike team (where PETRONAS launched their own superbike FP1), as well as the Petronas Adventure Team, the 4X4 adventure team. Recently Petronas has also been a major sponsor for PETRONAS TOYOTA TEAM TOM'S who participated in the Super GT series, which won the team title in 2008 and the driver title in 2009. The series also competes in Malaysia every season at the Sepang International Circuit between 2005 and 2013. PETRONAS signed a three-year sponsorship agreement with Fiat Yamaha's motoGP team. PETRONAS branding can be seen starting the Qatar race on 10 to 12 April 2009. Petronas also sponsored all Mercedes-AMG DTM cars since the 2011 season (replacing Mobil 1) as it only provides lubricants.
Since 2010, PETRONAS has also been a major sponsor of the Mercedes Grand Prix team. Mercedes AMG Petronas Motorsports won the F1 Constructors' Champion for the 4th consecutive time in 2017 Formula One Season after the team won it earlier in the 2016 Formula One Season, the 2015 Formula One season and the 2014 Formula One season.
Education
PETRONAS provides education sponsorship in the form of convertible loans to Malaysian and international students to continue their studies at local or foreign universities. The PETRONAS unit responsible for dealing with educational issues is called Sponsorship & amp; Talent Sourcing Unit (STS). These sponsors are awarded based on academic results, co-curricular activities, family backgrounds and student personality assessments (conducted throughout the program called EduCamp, which all PETRONAS candidates must undergo). Students absorbed by PETRONAS at the end of their tertiary studies have their conversion loans converted into full scholarships. These students are under a contractual agreement to work in the company for two years for each year they are sponsored. PETRONAS has its own university, Universiti Teknologi PETRONAS (UTP). Built in 1997, the campus is located in Seri Iskandar, Perak.
See also
- The Petronas Gallery
References
External links
- Official website (in English)
Source of the article : Wikipedia
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