Question

Conclusion about petronas Malaysian company? Almost 450 words

Answer 1

Petronas stands for Petroliam Nasional Berhad. The Petroliam Nasional Berhad was established 17 August 1974 as the national oil company for Malaysia as a wholly owned enterprise by the government. It has a very large business base that is spread around more than 31 countaries. It is one of the largest oil and gas producing e enterprise in the world. It manges the entire oil and gas resources in Malaysia. The journey of Petronas has started from just being the manager or the regulator into a fully integrated producer of oil and gas producer.

Some major points :-

PETRONAS or Petroliam Nasional Berhad is an oil and gas company in Malaysia founded by Tengku Razaleigh Hamesha on 17 August 1974.

Its vision is to become number one in the world for oil and gas choice.

Its a fully owned government enterprise headquartered at PETRONAS Twin Tower, Kuala Lumpur.

It has fully owned 103 subsidiaries, 19 partly owned outfits and 57 associated companies :-Petronas Dagangan Berhad

Petronas Gas Berhad

Misc BerhadKP

Petronas Chemical

Malaysian Marine and Heavy Engineering. Petronas Carigali Sdn Bhd. Petronas Research Sdn Bhd

It us working with the primary strategies of integration , globalisation and also adding value to the product.

Together, these companies make the Petronas Group, which is involved in various oil and gas based activities. The above mentioned companies forms Petronas group which is primarily engaged in variety of petroleum and gas activities. Apart from exploration and production of oil and gas as well as its refining the group also involves itself in the marketing and distribution of the petroleum and gas. The various other task performed by group includes

trading

Liquefaction

Gas transmission

gasprocessing

liquefaction

pipeline network operations

Property investment

petrochemical manufacturing and marketing

automotive engineering etc.

The Petronas group over the years has emerged as a multinational oil and gas producer from a domestic oil and gas company. Certainly in its journey it had achieved various milestones.

There are various features that helps us to say that Petronas works as an oligopoly .

The various characteristics of Petronas under oligopoly are as follows

Type of the product is standardized or differentiated.Control over price is limited by mutual interdependence, or it is considerable with collusion.Conditions of entry has significant obstacles.Non-price competition is typically a great deal with product differentiation.As already said the major stake in the group is with the government.

Petroliam Nasional Berhad (PETRONAS) is 100% owned by Government of Malaysia via Minister of Finance (Inc.). Over the years Petronas has done various task to improve its performance and growth with its its c vision of of becoming number one in oil and gas choice. In its growth process it has certainly achieved operational efficiencies. It has also incorporated the various inputs in different forms from the countaries in which it operates.