Thursday, July 16, 2009

Good show, Petronas... but be careful!

Salomon Smith Barney has given Petronas an upward rating in its latest survey on oil and gas companies worldwide.

The recent binding agreement between Santos and Petronas, and the Papua New Guinea LNG agreement between Exxon Mobil, Santos and Oil Search as transformative agreements for the sector will 'augur well for the industry players in the Asia-Pacific region', it says (read here...).

However, some analysts said Petronas must also take into account its agreements with other parties, locally and abroad, as not to waste too much money on unnecessary spendings.

Petronas and UMW had recently entered a re-negotiation on a USD170 million Naga 2 deal.

Besides, it will have to pay 71 per cent more than Reliance Industries Ltd to rent a drillship. Petronas and BHP Billton Ltd will pay USD640,000 per day from November 2010 to drill Malaysian deep waters.

Petronas, too, has agreed to study Uzbekistan gas-to-fuel plant project as part of its expansion programme abroad.

Now, taking into account the bigger expenditure its has to fork out, the advise to really choose the right partners and places to invest should be well-considered.

11 comments:

Anonymous said...

This is done without an Oxford, McKinsey, Ethos perompak in the BOD.

I bet with that perompak in it will be downhill.

THe equation to success in corporate malaysia is politicians to be not involve!!!!!!!!

shirley, PJ said...

i agree that petronas should take necessary precaution as to where and when to invest abroad.

the company is our pride. we dont want anything bad to befall it.

anyway, i am glad that salomon smith barney has given a thumb up to petronas

din kicap said...

segala yang dibuat oleh petronas adalah untuk kepentingan malaysia, bang.

saya yakin dengan kepakaran yang ada padanya dan juga pengurusannya.

cuma janganlah kita disogokkan dengan perancangan yang boleh menjejaskan kredibililtinya.

syabas petronas!

Anonymous said...

bujai,
betul ke syed hamid albar nak dilantik ke BOD petronas?

rosak beb!

solo said...

looking at petronas reminds me a lot about tdm, the person responsible in its upbringing.

tengku razaleigh, too has played a vital role in shaping up petronas.

may the company prosper

Anonymous said...

good show must now capsize its objective. foreign investment is good but steps must be taken to uphold its credibility as malaysia's leading oil and gas company.

Local supplier said...

hi bro,

Congrats to Petronas for it's outstanding achievement. But as a local supplier to Petronas, live has been difficult. payment from the like OF MMHE for service rendered and goods supplied take yaers to be paid, boleh bankrupt tunggu payment bro!

ingatkan Petonas have so much funds, then payment to cantractors should be according to contract, but their attitude is like the other GLCs-gomen mentality-typical Malaysian style.

Hope Tan Sri Marican or En Amir Hamzah can look into this matter, kesian local contractors.

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