Info:
Malaysia and its state-owned oil company, Petronas, was discovered to be helping Tehran secretly ship oil to China;
“Malaysia’s ambassador to Tehran announced that the Malaysian Petronas Company is interested in cooperation in Iran’s upstream oil industry Malaysian ambassador to Iran Rustam Bin Yahaya said, the Petronas Company has presented its plans to cooperate with the Iranian side in the upstream oil sector after the lifting of sanctions against the Iranian oil industry and he hoped that discussions will lead to a positive result.” (February 25, 2018);
Petronas has interest in multiple gas fields in Iran that are in the production phase. Additionally, in 2010 the company reportedly ceased supplying refined products to Iran. However, the company stated it is due to Iran’s lack of demand and has not pledged to cease activities in the country. In 2013, Petronas withdrew from South Pars Phase 11 and is in the cost recovery phase of Phases 2 and 3. In 2009, CalSTRS designated Petronas as “Divested and Restricted.” While the company’s apparent withdrawal from Iran is promising, Petronas remains “Divested and Restricted” under Sudan sanctions. CalSTRS has maintained the company’s “Divested and Restricted” designation in 2018.
“Iranol Company and Petroliam Nasional Berhad (Petronas) have signed an agreement to cooperate in manufacturing automotive and industrial lubricants in Iran, Shana news agency reported. Iranol Company is a leading producer and distributor of automotive and industrial lubricants in Iran, while Petronas is Malaysia’s state-owned oil and gas company.” (May 10, 2017);
Malaysian Minister of International Trade and Industry Mustapa Mohamed says Malaysian Petronas and Al Bukhary are to come back to Iran. Mohamed told Iran-Malaysia Trade Session in Iran Chamber of Commerce, Industries, Mines, and Agricutlure that the two Malaysian companies are to talk with National Iranian Oil Company (NIOC) officials on Sunday. He said Malaysia is keen on cooperating with Iran in oil and gas. “The two Malaysian companies, active in oil and gas, want to come back and to this end, talks will be continued to be held with the NIOC.” (SHANA, “Petronas, Al Bukhary to Return to Iranian Oil, Gas Market,” 10/24/2016);
Affiliates/Subsidiaries:
Engen
KLCC Property Holdings
Petronas Gas
Petronas Dagangan
Petronas Chemicals
Bintulu Port
MISC
Petronas Canada
Also Known As:
Petronas
National Petroleum Limited
Petroliam Nasional Berhad
Petroliam Nasional
Country:
Malaysia
Website:
www.petronas.com.my
E-mail:
info@petronas.com.my
Person of interests:
Wan Zulkiflee, President & Chief Eexcutive Officer
Ahmad Nizam Salleh, Chairman
Reason for the color:
» Petronas is listed on the June 4, 2019 and July 12, 2019 Florida State Board of Administration list of prohibited investments (Scrutinized companies) for Iran related business.;
» Petronas is listed on the June 2019 Alaska Retirement Management Board, Companies Doing Material Business with Iran list.;
» On January 18, 2019, the District of Columbia Retirement Board included Petronas on its Iran Divestment Scrutinized Companies List;
» In January 2019 Colorado’s PERA included Petronas on its Iran list;