Crisis Management

Petroliam National Bhd (PETRONAS)

Address:

Tower 1, PETRONAS Twin Towers

Kuala Lumpur City Centre

50088 Kuala Lumpur

Malaysia

Telephone: (603) 20265000

Fax: (603) 20265050

http://www.petronas.com.my

Statistics: State-Owned Company

Incorporated: 1974

Employees: 25,733

Sales: RM 67.1 billion ($17.6 billion) (2002)

NAIC: 211111 Crude Petroleum and Natural Gas Extraction; 324110 Petroleum Refineries

Company Perspectives:

PETRONAS’s goal is to contribute to the well-being of the people and the nation where it operates. To fulfill this role, all of its business activities must be viable and profitable. PETRONAS’s contributions--designed to assist in enhancing the quality of life of the people and help in the development of the nation--include the provision of quality petroleum and related products and services at a fair price; promoting and creating business and job opportunities in the petroleum industry; enlarging the country's industrial base; and ensuring a safe and clean environment.

Key Dates:

1974: The Malaysian government creates PETRONAS.

1983: PETRONAS enters the refining and distribution market.

1985: The first stage of the Peninsular Gas Utilization Project is completed.

1990: PETRONAS begins oil exploration outside of Malaysia in Myanmar.

1994: Subsidiary PETRONAS Dagangan Bhd lists on the Kuala Lumpur Stock Exchange.

1997: Company headquarters are moved to the 88-story PETRONAS Twin Towers.

2003: The Malaysia LNG Tiga Plant opens.

1.0 Background of Company and Nature of Business

PETRONAS, short for Petroliam National Berhad, is a Malaysian-owned oil and gas company that was founded on August 17, 1974. Wholly owned by the Government, the corporation is vested with the entire oil and gas resources in Malaysia and is entrusted with the responsibility of developing and adding value to these resources. PETRONAS is ranked among Fortune Global 500's largest corporations in the world. Fortune ranks...