Petronas, short for Petroliam Nasional Berhad is a Malaysian oil and gas company, founded in 1974. It is a fully-integrated oil and gas multinational corporation fully owned by Malaysian Government. PETRONAS has grown to be an integrated international oil and gas company with business interests in 35 countries.
Problems faced by Petronas
- Petronas not conducting itself in business affairs. The public have a right to know their business matters.
- Petronas employees claim that they are patriotic, but when it comes to money, they are likely to throw out the patriotism. Petronas lost many staff to Middle Eastern oil companies because of higher paychecks.
- Government as the stakeholder of PETRONAS, its strategies and actions that usually favor the governments, sometimes to the detriment of the local community or environment. Eg. Human Rights Violations and Environmental/Ecological Destruction.
- Expected slowdown in crude oil production demand due to gloomy economic weather and shutdown in oil production (oil depletion).
Sources :
http://sakmongkol.blogspot.com/2009/07/petronas-issue-again.html
http://mylivingwall.com/en/commentary-news-menu-70/6908-sustainability-analysis-on-petronas
http://www.theedgemalaysia.com/highlights/209932-petronas-warns-of-challenging-years-ahead.html
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