Petronas, short for Petroliam Nasional Berhad[1], 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. ~
Since its incorporation Petronas has grown to be an integrated international oil and gas company with business interests in 31 countries. As of the end of March 2005, the Petronas Group comprised 103 wholly owned subsidiaries, 19 partly-owned outfits and 57 associated companies. Together, these companies make the Petronas Group, which is involved in various oil and gas based activities. On 11 March 2007, the Financial Times identified Petronas as one of the "new seven sisters": the most influential and mainly state-owned national oil and gas companies from countries outside the OECD.
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The Group is engaged in a wide spectrum of petroleum activities, including upstream exploration and production of oil and gas to downstream oil refining; marketing and distribution of petroleum products; trading; gas processing and liquefaction; gas transmission pipeline network operations; marketing of liquefied natural gas; petrochemical manufacturing and marketing; shipping; automotive engineering; and property investment.
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Petronas built the Petronas Twin Towers (opened 1998), the tallest twin towers and once the world's tallest buildings, as its headquarters.
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