Petroliam Nasional Berhad

What Petroliam Nasional Berhad does

Petroliam Nasional Berhad (PETRONAS) is Malaysia's fully integrated national oil and gas company, incorporated on 17 August 1974 and wholly owned by the Malaysian government through the Ministry of Finance Incorporated. Headquartered at Tower 1 of the PETRONAS Twin Towers in Kuala Lumpur, the group operates across the entire energy value chain — upstream exploration and production (via PETRONAS Carigali and a presence in over 50 countries), gas processing and transmission (PETRONAS Gas Berhad), LNG liquefaction and trading (PETRONAS LNG Ltd, PETRONAS Energy & Gas Trading), refining and petrochemicals (Pengerang Integrated Complex, PETRONAS Chemicals Group Berhad), lubricants (PETRONAS Lubricants International), maritime bunkering (PETRONAS Marine), and a nationwide retail fuel network of over 1,000 stations operated by PETRONAS Dagaan Berhad under the myMesra brand. Supporting operations include Malaysian Petroleum Management (MPM), which stewards upstream licensing and governance of Malaysia's petroleum resources on behalf of the state.

The company monetizes its portfolio through seven primary revenue streams: upstream commodity sales, LNG sales and trading under long-term contracts and spot cargoes, downstream refining and petrochemical commodity sales, retail fuel transactions at its nationwide network, regulated gas processing and transmission tariffs, lubricants sales, and an emerging carbon management and new energy segment covering CCS, hydrogen, bio-based value chains, and sustainable aviation fuel. End-consumer fuel pricing is regulated by the Malaysian government (RON95 subsidized at approximately RM1.99 per litre; diesel market-priced), while LNG and upstream commodity prices are contractually indexed to oil and gas market benchmarks. FY2025 revenue was RM 266.1 billion (down from RM 320.0 billion in FY2024), with EBITDA of RM 103.0 billion and Profit After Tax of RM 45.4 billion — declines attributed to global energy market headwinds including the Iran conflict. Customer concentration spans the Malaysian government (resource stewardship and fuel subsidies), international utilities and NOCs under long-term LNG contracts (QatarEnergy, CNOOC, JERA, Pembina), industrial and manufacturing customers, and retail fuel consumers across Malaysia.

Strategic positioning centers on a 'More Energy, Less Emissions' transition pathway: PETRONAS is targeting 45% carbon intensity reduction by 2030 and net-zero by 2050, while simultaneously expanding LNG supply security through 20-year agreements with QatarEnergy (2 Mtpa), CNOOC (1 Mtpa), and JERA (extending into the 2040s), constructing a 650,000-tonne sustainable aviation fuel facility targeting 1 million metric tonnes of SAF production by 2028, pursuing carbon capture and storage collaborations with JBIC and Japanese counterparts, and executing ecosystem plays including the Searah joint venture with Eni and the consolidation of full PRefChem ownership from Saudi Aramco.

Name

Petroliam Nasional Berhad

Legal name

Petroliam Nasional Berhad (PETRONAS)

Website

https://petronas.com

Company type

Private

Founded year

1974

Operating status

Operating

Headcount range

5,001–10,000 employees

Short description

PETRONAS is Malaysia's fully integrated, state-owned national oil and gas company operating across upstream E&P, LNG, refining, petrochemicals, gas processing, lubricants, and a 1,000+ station retail fuel network in over 50 countries, serving governments, utilities, industrial customers, and Malaysian consumers.

Ownership category

akta.pro rank

Product category

Integrated Oil and Gas

NAICS

Petrochemical Manufacturing (325110), Petroleum Refineries (32411), Petroleum and Coal Products Manufacturing (324), Petroleum Bulk Stations and Terminals (424710)

SIC

Petroleum Refining (2911), Crude Petroleum & Natural Gas (1311), Wholesale-Petroleum Bulk Stations & Terminals (5171), Pipe Lines (No Natural Gas) (4610)

akta.pro primary industry

Polyesters & PET Chain (PTA, MEG, PET) (IMAEADAG)

akta.pro secondary industries

Chemical & Petrochemical Plant Construction (IMAFADAA), Liquid Bulk Chemical & Petrochemical Terminals (Base Chemicals, Solvents) (TLAHABAI), Chemical & Petrochemical Tanker Transport (TLADALAB), Commercial & Fleet Fueling (Cardlock, On-Site Tanks, Bulk Delivery) (EUALAIAD)

Keywords

• Integrated oil and gas
• Lng supply services
• Petroleum exploration production
• Petrochemical manufacturing
• Fuel retail operations

Headquarters

HQ city

Kuala Lumpur

HQ country

Malaysia

HQ region

Asia

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Operations, Supply Chain, Infrastructure, Personnel, Technology or R&D, Marketing or Sales

Revenue model

1. Upstream Exploration & Production: Revenue from the exploration, development, and production of crude oil and natural gas across PETRONAS's global portfolio, including domestic operations through PETRONAS Carigali and international assets in over 50 countries.
2. LNG Sales & Trading: Revenue from liquefied natural gas production and trading through PETRONAS LNG Ltd, including long-term supply contracts (e.g., 20-year deal with QatarEnergy for up to 2 Mtpa, 1 Mtpa deal with CNOOC, and contracts extending with JERA into the 2040s) and spot/cargo sales from Malaysia and LNG Canada operations.
3. Downstream Refining & Petrochemicals: Revenue from refinery operations (Pengerang Integrated Complex) and petrochemical production through PETRONAS Chemicals Group Berhad (PCG), producing basic, intermediate, and specialty chemicals for global industries.
4. Retail Fuel Sales: Revenue from fuel retail through PETRONAS Dagaan Berhad operating over 1,000 service stations nationwide, supplemented by non-fuel income from convenience stores, car washes, and automotive services.
5. Gas Processing & Transmission: Revenue from natural gas processing, transmission, and regasification through PETRONAS Gas Berhad (PGB), operating Malaysia's gas network and the RGT Satellite LNG regasification terminal.
6. Lubricants: Revenue from production and sale of lubricants and specialty chemicals through PETRONAS Lubricants International (PLI), marketed under brands including Sprinta, Urania, and Iona.
7. Carbon Management & New Energy: Emerging revenue from carbon capture and storage (CCS) initiatives, hydrogen, bio-based value chains, and green mobility solutions as part of PETRONAS's energy transition strategy.

Go-to-market motion1 record

Distribution channels5 records

Marketing channels6 records

Core offering

PETRONAS is Malaysia's fully integrated national oil and gas company operating across the full energy value chain: upstream exploration and production of crude oil and natural gas, midstream gas processing and LNG liquefaction, and downstream refining, petrochemicals, lubricants, marine bunker fuels, and a nationwide retail fuel station network. It also manages Malaysia's petroleum resources through Malaysian Petroleum Management and is developing carbon capture and storage, hydrogen, and sustainable aviation fuel capabilities as part of its energy transition strategy.

Product overview

PETRONAS is a fully integrated energy company with operations spanning upstream exploration and production, gas and liquefied natural gas (LNG), refining, chemicals, marketing and trading, and retail. The portfolio includes: upstream operations (Exploration, Development & Production via PETRONAS Carigali); downstream operations including refining (Pengerang Integrated Complex), chemicals (PETRONAS Chemicals Group), and marketing/trading/retail (PETRONAS Dagaan Berhad, PETRONAS Marine); gas business including LNG (PETRONAS LNG), gas processing/transmission (PETRONAS Gas Berhad), and power (PETRONAS Energy & Gas Trading). Supporting infrastructure includes Malaysian Petroleum Management (MPM) for upstream governance, PETRONAS Lubricants International for lubricants, and various digital platforms including the PETRONAS Licensing Management System (PLMS) for vendor licensing and GEP SMART for procurement. The group also operates sustainability-focused initiatives including Carbon Management (CCS), and technology platforms including Innovation Gateway @ PETRONAS, PETRONAS Ventures, and PETRONAS Pipeline of the Future (POTF).

Differentiator

Problem solved

Functional benefit

Brands

• PRefChem: Pengerang Refining and Petrochemical Company - integrated refinery and petrochemical operations at Pengerang Integrated Complex
• myMesra
• Primax
• Dynamic Diesel
• Sprinta
• Urania
• Iona
• BUDI95
• Searah

Products and services

• Liquefied Natural Gas (LNG) Production, trading, and sale of LNG to international utilities, national oil companies, and energy traders under long-term supply contracts and spot cargo sales from Malaysia and LNG Canada operations.
• Crude Oil and Natural Gas (Upstream) Exploration, development, and production of crude oil and natural gas across PETRONAS's global portfolio including domestic operations through PETRONAS Carigali and international assets in over 50 countries.
• Petrochemicals Integrated chemicals produced by PETRONAS Chemicals Group Berhad (PCG) including basic, intermediate, and specialty chemicals sold to global industries.
• Refined Petroleum Products Refinery output from the Pengerang Integrated Complex (PIC), a world-scale integrated refinery and petrochemical complex anchoring Johor's downstream hub.
• Automotive and Industrial Lubricants Global lubricants business offering automotive and industrial lubricants under brands including Sprinta, Urania, and Iona, produced and marketed by PETRONAS Lubricants International (PLI).
• Marine Bunker Fuels and Lubricants Quality bunker fuels, lubricants, and technical services supplied at strategic ports worldwide through PETRONAS Marine.
• Retail Fuel Services Retail fuel and non-fuel services through PETRONAS Dagaan Berhad's network of over 1,000 service stations nationwide, including petrol and diesel sales under the Primax and Dynamic Diesel brands, myMesra convenience stores, car washes, and automotive services.
• Gas Processing and Transmission Natural gas processing, transmission, and regasification services operated by PETRONAS Gas Berhad (PGB), including the RGT Satellite LNG regasification terminal and delivery to power utilities, industrial users, and city gas suppliers in Malaysia.
• Carbon Capture and Storage (CCS) CCS and physical decarbonisation services offered by PETRONAS Carbon Management to industrial emitters seeking to reduce carbon footprints as part of PETRONAS's energy transition strategy.
• Sustainable Aviation Fuel (SAF) Sustainable aviation fuel produced as part of Malaysia's SAF programme, with PETRONAS constructing a facility targeting 1 million metric tonnes of SAF production by 2028.
• Petroleum Resource Management and Upstream Licensing Upstream licensing, governance, and resource stewardship for Malaysia's petroleum resources through Malaysian Petroleum Management (MPM), providing access to domestic acreages via Production Sharing Contracts with Petroleum Arrangement Contractors (PACs).

Quantifiable outcome

• Revenue of RM 266.1 billion in FY2025 with PAT of RM 45.4 billion
• +2 more outcomes

Named customers6 records

Segments5 records

Ideal customer profiles5 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Twelve partnerships are on record, tiered core, major and minor.

• Eni (Establishing Searah)coreStrategic or Co-development Partner · 8 June 2026PETRONAS and Eni established 'Searah', a joint venture entity to strengthen regional energy security and deliver long-term value. The partnership combines PETRONAS's integrated energy capabilities with Eni's international upstream and portfolio diversification strengths, with the new entity potentially encompassing upstream assets across Southeast Asia.
• Regional E&P Operators and University Technology PETRONAS (IOR/EOR Collaboration)majorStrategic or Co-development Partner · 4 June 2026PETRONAS signed an MoU with regional E&P operators including Petronas Carigali, PTTEP Sarawak Oil, PTTEP Sabah Oil, PT Pertamina Malaysia Eksplorasi Produksi, and University Technology Petronas (UTP) through Malaysia Petroleum Management to evaluate opportunities for improved and enhanced oil recovery (IOR/EOR) in offshore acreages. The collaboration brings together research capabilities for fit-for-purpose IOR/EOR studies with potential for pilot implementation. The MoU was exchanged alongside the Offshore Technology Conference Asia 2026.
• JERA (Japan's Largest Power Utility)coreStrategic or Co-development Partner · 30 April 2026PETRONAS and JERA signed a new long-term LNG supply deal extending their partnership into the 2040s, reinforcing the strategic relationship between Malaysia's national oil company and Japan's biggest power generation company. JERA is increasing its involvement in Southeast Asia's LNG market amid rising regional demand and declining domestic gas production.
• ENEOS XploramajorStrategic or Co-development Partner · 30 April 2026PETRONAS and ENEOS Xplora strengthened their strategic partnership to support long-term energy security, building on their existing collaboration in the LNG and downstream sectors. ENEOS is Japan's largest oil and metals company and the partnership covers potential expansion in LNG trading, renewable energy, and low-carbon solutions.
• ADTEC and TMR TechnologiesminorImplementation/ SI/ Consulting Partner · 14 April 2026PETRONAS Carigali, in partnership with ADTEC and TMR Technologies, delivers free technical skills training programmes to local youth in Sarawak communities near the Sabah-Sarawak Gas Pipeline project. The training includes Scaffolding Level 2 certification with a 94% success rate, all graduates securing employment in engineering service companies and the local oil and gas industry. PETRONAS plans to expand the initiative in 2026 with Level 1 and Level 2 scaffolding training and entrepreneurship courses.
• Vitol GroupmajorChannel Partner/ Reseller/ Distributor · 13 April 2026Energy trading giant Vitol Group handles diesel shipments from Malaysia to the Philippines under existing commercial arrangements. Malaysian Prime Minister Anwar clarified that Petronas was not directly supplying fuel to the Philippines, with shipments handled by Vitol under existing commercial arrangements, underscoring how energy trades have become sensitive amid Middle East conflict-driven supply disruptions.
• MISC BerhadcoreStrategic or Co-development Partner · 9 February 2026MISC Berhad received a letter of award from PETRONAS LNG Ltd for 20-year time charter contracts for newbuild liquefied natural gas carriers (LNGCs), with services commencing in 2029 through MISC's wholly owned subsidiaries. MISC simultaneously entered shipbuilding contracts with Hudong-Zhonghua Shipbuilding for construction of three newbuild LNGCs for this project. PETRONAS LNG also signed a 20-year time charter party with MISC for five newbuild LNG carriers.
• QatarEnergycoreStrategic or Co-development Partner · 4 February 2026PETRONAS LNG signed a landmark 20-year LNG sale and purchase agreement with QatarEnergy for up to 2 million tonnes per annum of LNG supply. Signed in Doha during LNG2026 conference, this is the first long-term LNG supply contract between the two companies, designed to reinforce Malaysia's energy supply security by diversifying supply nodes and complementing cargoes from Malaysia and Canada.
• CNOOC (China National Offshore Oil Corp)coreStrategic or Co-development Partner · 25 December 2025PETRONAS signed a long-term deal to supply CNOOC with 1 million tonnes per annum of LNG, with deliveries routed through CNOOC's Singapore trading entity. The agreement is framed as supporting China's 'Dual Carbon' policy goals of peaking emissions before 2030 and achieving carbon neutrality by 2060, while highlighting PETRONAS's expanding LNG supply capabilities including exports from LNG Canada.
• Pembina Pipeline CorporationcoreStrategic or Co-development Partner · 1 December 2025Pembina Pipeline Corporation entered a long-term agreement with PETRONAS for liquefaction capacity at Cedar LNG, where PETRONAS and Ovintiv have jointly marketed 1.5 million tonnes per annum of Cedar LNG capacity through long-term agreements. PETRONAS is remarketing Cedar LNG capacity following changes in the project consortium.
• Saudi Aramco (PRefChem Joint Venture)coreStrategic or Co-development Partner · 1 December 2025PETRONAS and Saudi Aramco jointly operated the Pengerang Refining and Petrochemical Complex (PRefChem) under a 50-50 joint venture. In May 2026, PETRONAS announced it would assume full ownership of PRefChem from Aramco, completing the transfer of all shares held by Aramco Global Trading (AGT) in PRefChem.
• JBIC (Japan Bank for International Settlements / JBIC and PETRONAS CCS Dialogue)majorStrategic or Co-development Partner · 3 October 2025JBIC (Japan Bank for International Cooperation) and PETRONAS co-hosted the Malaysia-Japan CCS Dialogue in Kuala Lumpur (February 2026), gathering over 150 representatives from government bodies and 30+ companies from both countries to discuss cross-border carbon capture and storage collaboration under their renewed MoU. Key topics included policy and regulatory frameworks, CCS value chain development, risk and liability frameworks, and project bankability. The dialogue aligns with Malaysia's goal to reduce 45% carbon intensity by 2030 and achieve net-zero by 2050.

Scale indicators8 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Saudi Aramco: Saudi Arabia's national oil company and the world's largest integrated NOC. Direct comparable to PETRONAS across upstream, refining, petrochemicals, and global LNG/marketing, and was PRefChem's former JV partner before transferring full ownership to PETRONAS in 2026.
• PTTEP: Thailand's national upstream E&P company and a regional NOC peer. Partnered with PETRONAS under Malaysia Petroleum Management MoUs on IOR/EOR and regional offshore development.
• QatarEnergy: Qatar's national energy company and one of the world's largest LNG producers. Direct LNG counterpart to PETRONAS under the 20-year, 2 Mtpa supply agreement signed in 2026.
• Indian Oil Corporation: India's largest national oil company with integrated upstream, refining, petrochemicals, and a vast domestic retail network. Historically tied to PETRONAS through the Pacific NorthWest LNG transaction.
• Pertamina: Indonesia's state-owned integrated oil, gas, and renewable energy company. Direct regional NOC peer active in upstream, refining, petrochemicals, and retail across Southeast Asia, often co-investing with PETRONAS in regional acreages.
• Petrobras: Brazil's national oil company operating across upstream, refining, gas, and petrochemicals with a similar state-owned, vertically integrated profile to PETRONAS, including a national energy security mandate.
• ADNOC: UAE's integrated national oil company with comparable upstream, refining, petrochemicals, and LNG portfolios. Closely comparable to PETRONAS in mandate, integration, and Asia-focused gas strategy.
• Eni: Italy's integrated major IOC with significant upstream, LNG, and refining exposure. Newly partnered with PETRONAS in the Searah JV (June 2026) for Southeast Asia regional energy security.
• CNOOC: China's national offshore oil and LNG major and a direct 1 Mtpa LNG offtake counterparty with PETRONAS. Comparable in upstream production, LNG trading, and Asia-focused gas strategy.

Broad incumbents

• BP: Global integrated supermajor with overlapping upstream, LNG, refining, petrochemicals, and trading capabilities. Acts as a broad incumbent whose portfolio competes with PETRONAS in Asia-Pacific gas markets and lubricants.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/petronas
• YouTubeyoutube.com/user/PETRONASOfficial
• Facebookfacebook.com/petronas
• LinkedInlinkedin.com/company/petronas
• Instagraminstagram.com/petronas
• TikToktiktok.com/@petronas_official

Revenue estimate

Valuation estimate

Number of profiles

Profiles6 records

Subsidiaries25 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A2 records

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Petroliam Nasional Berhad