Malaysia Could List Petronas' Exploration Arm

Friday, September 27, 2019

Malaysia is considering listing the exploration and production arm of state energy company Petronas, the world's third-biggest exporter of liquefied natural gas, state news agency Bernama reported on Friday citing Prime Minister Mahathir Mohamad.

Mahathir has previously said that the government was looking to sell or list some state assets to reduce debt. There has been speculation this could include selling a portion of Petronas.

"At the moment, we feel that selling Petronas shares is not going to be good for the government," Mahathir said in a dialogue session in New York, according to Bernama.

The government may consider listing Petronas at a later stage, he said.

"We may sell off the shares of the subsidiaries because that will not affect Petronas that much. One of them is Carigali but there are also a few others," said Mahathir, who is in New York for the United Nations General Assembly.

Petronas Carigali, the exploration arm, has both local and international operations.

A handful of Petronas' units are already listed on the national stock exchange, including the petrochemical arm Petronas Chemicals.

Petronas and the prime minister's office were not immediately available for comments.


(Reporting by A. Ananthalakshmi and Joseph Sipalan, Editing by Shri Navaratnam and Sherry Jacob-Phillips)

Categories: Finance Energy LNG Asia Natural Gas Malaysia

Related Stories

SBM Offshore’s Jaguar FPSO Enters Drydock in Singapore (Video)

EnQuest Picks Up Offshore Oil and Gas Block in Brunei

Seatrium Makes First Turnkey FPSO Delivery to Petrobras

Woodside Finds South Korean Partners to Advance LNG Value Chain

PTTEP Hires Energy Drilling’s Rig for Southeast Asia Offshore Job

Yinson Production Secures $1.17B Refinancing for FPSO Maria Quitéria

Wood JV Gets EPC Job for Shell off Brunei

Fugro Lands Deepwater Gas Field Job in Southeast Asia

China's ENN, Zhenhua Oil Ink LNG Supply Deals with ADNOC

CNOOC Sees 11% Profit Growth in 2024 Driven by Record Oil Production

Current News

Pandion Energy Divests Interests in Three Norwegian Assets to Inpex

China Starts Production at Major Oil Field in Bohai Sea

Dutch Contractor Completes Malaysia’s Largest 'Rig-to-Reef' Decom Project

China Rolls Out 17MW Floating Wind Turbine Prototype

SBM Offshore’s Jaguar FPSO Enters Drydock in Singapore (Video)

EnQuest Picks Up Offshore Oil and Gas Block in Brunei

CNOOC Finds Oil and Gas in South China Sea

Seatrium Makes First Turnkey FPSO Delivery to Petrobras

KBR-SOCAR Joint Venture Secures Work for BP in Azerbaijan

Baker Hughes, Petronas Team Up for Asia-Pacific Energy Resilience

Subscribe for AOG Digital E‑News

AOG Digital E-News is the subsea industry's largest circulation and most authoritative ENews Service, delivered to your Email three times per week

https://accounts.newwavemedia.com