Offshore Oil & Gas Future Development

PETRONAS and PETROVIETNAM have reached an agreement for the transfer of PETROVIETNAM’s 43 per cent stake in Phu My Plastics and Chemicals (PMPC) to PETRONAS International Corporation Ltd (PICL), a wholly owned international investment subsidiary of PETRONAS.Concurrently, PETRONAS has also commenced the necessary process to transfer its entire 50 per cent interest in PMPC to PICL. Once this is finalised, PICL will own 93 per cent interest in PMPC, while the remaining seven per cent stake is owned by Vung Tau Shipyard Company.

The parties are now in the final stage of formalising the necessary documents for submission to the Vietnamese authorities for approval. (more…)

PETRONAS today launched its 2007 Merdeka Campaign to commemorate and celebrate the Golden Anniversary of Malaysia’s independence.With the theme of “One Legacy, One Destiny”, this major integrated campaign aims at not only celebrating Malaysia’s 50 years of nationhood, but also at nurturing and enhancing the spirit of patriotism and the love for the country among all Malaysians. It is a continuation of what has become a PETRONAS’ Merdeka “tradition” over the years.

The campaign, launched by PETRONAS’ President & Chief Executive Officer Tan Sri Dato Sri Mohd Hassan Marican, will also augment and complement efforts by the authorities and other bodies in making the nation’s golden jubilee a memorable and meaningful occasion. (more…)