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Continued Value Creation

PETRONAS aims to drive long-term business value creation through responsible investments.

Exploring Green Hydrogen Production in Asia

In November 2020, PETRONAS signed a Memorandum of Understanding with Sarawak Energy Berhad (SEB) for joint techno-commercial study of green hydrogen production and its value chain. This collaboration is expected to provide insights into the potentials of a hydrogen supply chain in Asia. Among the key areas in this partnership is a techno-commercial evaluation of a large-scale hydrogen production facility through the electrolysis process by utilising renewable energy supplied by SEB.

Making Sustainable Solutions Go Further

Our fuels, lubricants and functional fluids are developed to deliver superior performance in tough conditions. Engineered and tested in the world of motorsports, they produce proven results. These include high-octane petrol, sulphur-free diesel, and multi-purpose fuel additives; a new upgrade of our best-selling range of automotive engine oils and a range of sustainable biofuels with lower consumption, emissions and carbon footprint. There is also our first line of battery electric vehicle fluids, marking our entry into future markets. PETRONAS Fluid Technology Solutions™ offering is made possible by partners and experts who share the same vision as PETRONAS. Together we are committed to deliver cutting-edge fuels, engine oils, and functional fluids for a low-carbon future for the ultimate end-users

Better Everyday Products with Specialty Chemicals

With a total of USD27 billion invested in Pengerang Integrated Complex (PIC), we drive scalable innovation through specialty chemicals that will continue to generate value for PETRONAS. As one of the largest integrated refinery and petrochemical developments in this region, PIC has a refining capacity of 300 kbpd of crude. PIC will also diversify our feedstock reliability from gas-based to naphtha, and expand our petrochemical portfolio with a nameplate capacity of 3.3 mtpa, producing various products including specialty chemicals. These chemicals are vital for the production of quality everyday products that add value to people’s lives. We are also working towards making PIC the future site of Southeast Asia’s first chemical recycling project, which will convert mixed plastics waste into virgin quality polymer.

Producing Cleaner Energy to Lower Our Global Carbon Footprint

Building upon our experience as a fully-integrated global LNG player, we exemplified our commitment to sustainability with the world’s first floating LNG solution in 2016, the PFLNG SATU, a mobile facility capable of processing LNG while offshore. Its ability to reach stranded gas fields up to 200 metres underwater removes the need for pipelines, enabling us to produce cleaner energy while protecting the environment. In 2020, we continue to define the future of LNG with the introduction of the PFLNG DUA, the world’s first deep-water FLNG capable of extracting gas reserves up to 1,500 metres underwater. Delivered through innovation with an emphasis on reducing carbon emissions, our FLNG solutions enable us to power the world with an uninterrupted supply of cleaner energy produced in a sustainable manner.

A Brighter Future for All

With the acquisition of Amplus Energy Solutions Pte Ltd (M+) in April 2019, we established ourselves as an international renewables energy player, complementing our presence as a key global energy player. With M+, PETRONAS will be generating over 600 MWp of renewable energy annually to power over 150 commercial and industrial customers in 200 locations across India, Middle East and Southeast Asia. This reinforces our commitment towards creating a sustainable ecosystem, to combat greenhouse gas emissions and build a greener future for generations to come.

Future Facilities Reimagined

By using advanced materials, we optimise and strengthen operations integrity. Under our Facilities of the Future (FoF) programme, we automate hazardous and repetitive tasks to make offshore work safer and more efficient, safeguarding the well-being of our employees. The use of automation and robots also means reducing the operating cost of our offshore facilities, creating a more sustainable way of working for PETRONAS and our partners.

Accelerating Technology Innovations

We are committed to the development and scalability of future technology and the ecosystems that bring them to life. PETRONAS Ventures (formerly known as PETRONAS Corporate Venture Capital) was established in 2019, driving technology innovation to maintain PETRONAS’ competitive edge in this ever disruptive and challenging business environment. Our investment verticals focus on Industry 4.0, advance materials and specialty chemicals as well as future of energy.

We mark our foray into venture capital through investments in Braintree Technologies Sdn Bhd and SOLS Energy Sdn Bhd. Both companies are graduates of PETRONAS FutureTech Accelerator 2019, which aims to contribute to Malaysia’s economic future and growing domestic ecosystem.

Investment in Braintree Technologies supports robotics and artificial intelligence software development that would provide total agricultural solutions, converting non-revenue generating land into high-value crop farms via automated farming. Investment in SOLS Energy reaffirms our commitment to renewable energy as a solutions partner. It helps to expand the innovative business model that provides sustainable energy for residential and small-to-medium enterprise (SME) sectors.

PETRONAS Ventures will continue to support PETRONAS’ business growth and sustainability agenda through strategic investment, partnerships and collaborations, closely in line with our Sustainability Agenda, in our commitment to UN SDGs and our Statement of Purpose as a Solutions Partner.

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