Search OpenSanctions

Advanced

Petroliam Nasional (Petronas)

Trade risk
Petroliam Nasional (Petronas) is an entity of interest. It has not been found on international sanctions lists.
TypeCompany[sources]
NamePetroliam Nasional (Petronas)[sources]
Incorporation datenot available[sources]
Jurisdictionnot available[sources]
CountryMalaysia[sources]
Registration numbernot available[sources]
SectorEnergy[sources]
Stock ticker symbolKLSE: PCHEM[sources]
Websitewww.petronas.com.my[sources]
Source linkwww.unitedagainstnucleariran.com[sources]
Last changeLast processedFirst seen

Descriptions

"Open sources reported that Petronas sold gasoline to Iran in 2009 and 2010 and stopped in 2010." (U.S. Government Accountability Office, Report: "Firms Reported in Open Sources to Have Sold Iran Refined Petroleum Products between January 1, 2009 and June," September 3, 2010) (http://www.gao.gov/new.items/d10967r.pdf)

Iran UANI Business Registry non-official source,

In 2020, the U.S. state of Mississippi listed Petronas on its state lists of Companies Doing Business with the Iranian Petroleum/Natural Gas, Nuclear and Military Sectors, rendering it ineligible for investment and/or state contracting. (https://www.dfa.ms.gov/media/sd1ccddh/businesses-doing-business-with-iran-12-4.docx)

Iran UANI Business Registry non-official source,

--

Iran UANI Business Registry non-official source,

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. (https://www.sbafla.com/fsb/Portals/FSB/Content/Performance/Quarterly/2019_06_04_Web_Update_PFIA_Prohibited_List.pdf?ver=2019-06-04-162911-617) (https://www.sbafla.com/fsb/Portals/FSB/Content/Performance/Quarterly/2019_07_12_Web_Update_PFIA_Prohibited_List.pdf?ver=2019-07-12-114201-343)

Iran UANI Business Registry non-official source,

"Malaysia's Petronas has stopped supplying gasoline to Iran, a company spokesman said on Thursday, as the threat of U.S. sanctions on oil firms with supply ties to the Islamic Republic looms large." (Reuters, "Petronas Halts Fuel Sales to Iran as Sanctions Loom," 4/15/10)  -- (http://nyti.ms/deqfM3)

Iran UANI Business Registry non-official source,

"Petronas' South African unit Engen said on Wednesday it had halted all imports of crude from Iran after deciding the sanctions placed on the Middle Eastern country were a risk to its security of supply.  'We have been working on diverting our supply since identifying Iran as a risk,' said Engen spokeswoman Tania Landsberg. Engen, the biggest. South African buyer of Iranian crude, is majority-owned by Malaysian national oil company Petronas. While Landsberg would not comment on when Engen stopped imports, a Petronas source told Reuters last month Engen had stopped buying Iranian oil from March." (Reuters, "Petronas S. Africa unit Engen ends Iran crude imports," 4/4/12) (http://uk.reuters.com/article/2012/04/04/petronas-engen-idUKL6E8F408F20120404)

Iran UANI Business Registry non-official source,

As of January 28, 2020, Petronas is included on the District of Columbia Retirement Board’s (“DCRB”) Iran Divestment Scrutinized Companies List. (https://dcrb.dc.gov/sites/default/files/dc/sites/dcrb/publication/attachments/Iran Divestment Scrutinized Companies List January 2020_0.pdf)

Iran UANI Business Registry non-official source,

On March 13, 2019, the Mississippi Department of Finance & Administration identified Petronas as a company “engaged in investment activities in Iran, providing funds, goods or services valued at $20,000,000 or more in the energy sector of Iran. (https://www.dfa.ms.gov/media/8124/businesses-doing-business-with-iran.pdf)

Iran UANI Business Registry non-official source,

As of May 28, 2020, the Florida State Board of Administration (“SBA”) continues to list Petronas on its list of “Scrutinized companies with Activities in the Iran Petroleum Energy Sector. (https://www.sbafla.com/fsb/Portals/FSB/Content/GlobalGovernanceMandates/QuarterlyReports/2020/Global_Governance_Mandates_and_Florida Statutes_2020_05_28.pdf?ver=2020-05-28-122524-540)

Iran UANI Business Registry non-official source,

In 2018 the U.S. states of Colorado, Ohio listed Petronas on its Iran list for making an investment on or after August 5, 1996, or in any combination in any 12-month period of $20 million or more, in Iran's energy sector.  (https://www.copera.org/sites/default/files/documents/iranreport1-19-18.pdf/) (https://www.op-f.org/Files/Scrutinized%20Companies%20Iran%20Sudan.pdf)

Iran UANI Business Registry non-official source,

"Petronas has an 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 Phase 11 of the South Pars gas field 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 “Divested and Restricted” status in 2020." (https://www.calstrs.com/sites/main/files/file-attachments/calstrs-investment-reports-2020.pdf?1609284307)

Iran UANI Business Registry non-official source,

"Malaysian state oil firm Petronas will halt all imports of Iranian crude from April, two months before a U.S. embargo takes effect, joining a growing list of buyers bowing to Western pressure to isolate Iran.  China, India, Japan and South Korea are the four biggest buyers of Iranian crude in Asia and all are cutting imports. Iran sells most of its 2.6 million barrels per day (bpd) of exports in the region.  Petronas PETR.UL sources said on Friday the company was already looking at other suppliers.  "We are complying and aim to cut all our imports from Iran by April," said a senior Petronas official with direct knowledge of the issue. "We are looking at alternative sources."  A Petronas spokesman was unavailable for comment.  Petronas imports some 50,000-60,000 bpd of Iranian crude, the sources said, making it a mid-sized Asian buyer compared with top Iranian oil importers such as China's Zhuhai Zhenrong and Unipec which buy more than 200,000 bpd each."  (Reuters, "Malaysia to halt Iran oil imports- sources," 3/23/12) (http://www.reuters.com/article/2012/03/23/us-malaysia-iran-crude-idUSBRE82M0CK20120323)

Iran UANI Business Registry non-official source,

"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). (https://en.isna.ir/news/96120602886/Malaysia-s-Petronas-willing-to-invest-in-Iran-s-upstream-sector)

Iran UANI Business Registry non-official source,

As of December 31, 2019, the Alaska Retirement Management Board lists Petronas as a company doing material business with Iran.   (https://treasury.dor.alaska.gov/Portals/3/docs/resolutions/ARMB Iran Divestment List 12-31-19.pdf)

Iran UANI Business Registry non-official source,

On September 19, 2007, Petronas was added to the Florida State Board of Administration List of Prohibited Investments (Scrutinized Companies) due to its involvement in Iran. As of March 9, 2021, Petronas remains on the SBA list of prohibited investments.  (https://www.sbafla.com/fsb/Portals/FSB/Content/Performance/Quarterly/2021_03_09_Web_Update_PFIA_Prohibited_List.pdf?ver=2021-03-09-134849-587)

Iran UANI Business Registry non-official source,

"Malaysia's state oil company Petronas submitted its development proposals for Azadegan Oilfield, the country's largest oilfield located in the southern oil-rich province of Khuzestan. According to the National Iranian Oil Company's news portal, a technical committee from Petronas presented its master development plan to the officials of Iran's Petroleum Engineering and Development Company. Petronas signed a non-disclosure agreement with PEDEC last December to study Azadegan Oilfield, which is divided into the north and south sections and holds an estimated 33 billion barrels of in-place oil." (November 1, 2017). (https://financialtribune.com/articles/energy/75374/petronas-proposal-for-azadegan-project)

Iran UANI Business Registry non-official source,

"Refiners in South Africa include Shell, BP, Total, Chevron, petrochemicals group Sasol , and Engen, majority-owned by Malaysian state oil group Petronas." (Reuters, "S.Africa keen to replace Iranian crude with Nigerian," 5/24/2012) (http://www.reuters.com/article/2012/05/23/safrica-oil-iran-idUSL5E8GNEBT20120523)

Iran UANI Business Registry non-official source,

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). (http://www.shana.ir/en/newsagency/271466/Petronas-Al-Bukhary-to-Return-to-Iranian-Oil-Gas-Market)

Iran UANI Business Registry non-official source,

In 2017 the U.S. states of Alaska, California, Florida, Mississippi, Texas listed Petronas on its list of companies doing material business with Iran rendering PEtronas ineligible for investment and/or state contracting.  As of October 4, 2008, CalSTRS' portfolio was free of Petronas who is subject to the most severe restrictions under the law due to its ties or possible ties to Iran. (http://treasury.dor.alaska.gov/Portals/3/docs/ARMB%20Iran%20Divestment%20List%2012-31-17.pdf /) (https://www.calpers.ca.gov/docs/forms-publications/iran-sudan-divestment-2017.pdf) (https://www.sbafla.com/fsb/Portals/FSB/Content/GlobalGovernanceMandates/QuarterlyReports/2017/Global_Governance_Mandates_and_Florida%20Statutes_2017_12_13.pdf?ver=2017-12-13-145507-737/) (http://www.dfa.ms.gov/media/4100/companies-posted.pdf)

Iran UANI Business Registry non-official source,

On January 13, 2020, the South Dakota Investment Council submitted a report to the Executive Board of the Legislative Research Council regarding compliance with SDCL 4-5-48 to 4-5-60, Iran Divestiture. Included in this report is an Iran Scrutinized Companies list of all prohibited investments for which the internal managers and direct external managers are instructed not to purchase any company on the list. Petronas is included on this list (https://sdlegislature.gov/docs/referencematerials/requiredreports/RR901152020.pdf)

Iran UANI Business Registry non-official source,

<!--td {border: 1px solid #ccc;}br {mso-data-placement:same-cell;}--> On January 18, 2019, the District of Columbia Retirement Board included Petronas on its Iran Divestment Scrutinized Companies List. (https://dcrb.dc.gov/sites/default/files/dc/sites/dcrb/publication/attachments/Iran%20Divestment%20Scrutinized%20Companies%20List-%20January%2018%202019.pdf)

Iran UANI Business Registry non-official source,

"Malaysia's state-owned Petronas is studying possible development of the giant onshore Azadegan oil field in Iran, Petronas CEO Wan Zulkiflee Wan Ariffin told S&P Global Platts Wednesday. Petronas is among 34 prequalified foreign companies for Iranian oil and gas upstream projects. It also has signed a memorandum of understanding on development of the Azadegan oil field." (October 18, 2017). (https://www.platts.com/commodity/natural-gas) (https://www.platts.com/latest-news/oil/tokyo/malaysias-petronas-studying-irans-azadegan-oil-26823388)

Iran UANI Business Registry non-official source,

In 2009, the California State Teachers’ Retirement System (“CalSTRS”), designated COSL as “Divested and Restricted” for having 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 the South Pars Phase 11 and is in the cost recovery phase of Phases 2 and 3. According to CalSTRS, while the company’s apparent withdrawal from Iran is promising, CalSTRS maintained the “Divested and Restricted” designation in 2019. (https://www.calstrs.com/sites/main/files/file-attachments/calstrs-investment-reports-2019.pdf?1577750493)

Iran UANI Business Registry non-official source,

"Engen has turned to top oil exporter Saudi Aramco for additional crude after South Africa's biggest buyer of Iranian crude halted imports from the Islamic Republic, trade sources said on Wednesday. Engen, majority owned by Malaysian national oil company Petronas, will replace about half of the Iranian volumes with Saudi supplies and the remaining will be filled up from the spot market, mainly from West Africa, the sources said. The refiner suspended an annual contract for 50,000 barrels per day of Iranian crude in March, joining a growing list of buyers bowing to Western pressure to cut business dealings with Tehran to isolate the country." (Reuters,"S.Africa Engen buys Saudi crude to replace Iran," 4/18/12) (http://af.reuters.com/article/investingNews/idAFJOE83H00820120418?feedType=RSS&feedName=investingNews&sp=true)

Iran UANI Business Registry non-official source,

UPSTREAM: Interest in South Pars Gas Development project, phases 2 & 3 Partners: TOTAL (Operator) and Gazprom Status: Production (Source: Company Website) (http://petronastwintowers.com.my/internet/corp/centralrep2.nsf/F0D5FD0D9C25FBDD48256AE90025EE04/C40420AD31B3A66748256A95002E1388?OpenDocument)

Iran UANI Business Registry non-official source,

<!--td {border: 1px solid #ccc;}br {mso-data-placement:same-cell;}--> In January 2019 Colorado's PERA included Petronas on its Iran list. (https://www.copera.org/sites/default/files/documents/iranhttps://www.copera.org/sites/default/files/documents/iranreport1-19.pdfreport1-19.pdf)

Iran UANI Business Registry non-official source,

Petronas is listed on the June 2019 Alaska Retirement Management Board, Companies Doing Material Business with Iran list. (http://treasury.dor.alaska.gov/Portals/3/docs/resolutions/ARMB%20Iran%20Divestment%20List%206-30-19.pdf)

Iran UANI Business Registry non-official source,

On June 1, 2020, the Ohio Police & Fire Pension Fund (“OP&F”) listed Petronas on its scrutinized companies Iran/Sudan list.   On September 24, 2008, OP&F adopted an Iran and Sudan Divestment Policy, which notes, “[t]he purpose of this Policy is to divest and restrict the purchase of stocks and bonds (“direct holdings”) issued by a publicly traded Company… with “scrutinized active business operations” in Iran and Sudan.”   (https://www.op-f.org/Files/Scrutinized Companies Iran Sudan.pdf)

Iran UANI Business Registry non-official source,

"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). (https://fuelsandlubes.com/iranol-company-and-petronas-sign-agreement-to-produce-lubricants-in-iran/)

Iran UANI Business Registry non-official source,

"Malaysia will resume imports of oil from Iran when the West-engineered sanctions are removed against the Islamic Republic, according to Ikhlas Abdul Rahman, the Middle East director of Malaysia's Petronas Company. The official said his country is ready to import 50,000-60,000 barrels per day (bpd) of oil from Iran in the post-sanctions time, the Mehr News Agency reported on Tuesday. A new round of cooperation will be started between Petronas and National Iranian Oil Company (NIOC) after lifting of the sanctions, Abdul Rahman noted. Petronas's office in Tehran was active even during the sanctions; the official stated, adding that the activity of this office will rise when the sanctions are removed. 'We are very hopeful to return to the Iranian oil industry', he further highlighted." (Tehran Times, "Malaysia to resume oil imports from Iran once sanctions lifted," 11/4/15) (http://t.uani.com/1Q5o6Ff)

Iran UANI Business Registry non-official source,

In 2013, 2014, 2015, 2016 and 2017 Petronas was listed on the Texas Pension Review Board List of Scrutinized Companies doing business in Iran pursuant to Chapter 807.054, Government Code.   (https://comptroller.texas.gov/purchasing/publications/divestment.php)

Iran UANI Business Registry non-official source,

<!--td {border: 1px solid #ccc;}br {mso-data-placement:same-cell;}--> 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.

Iran UANI Business Registry non-official source,

Petronas is listed on the December 31, 2018 CalSTRs Portfolio of companies identified as possibly having ties to Iran and from which CalSTRs has divested from and restricted in 2018. (https://www.calstrs.com/sites/main/files/file-attachments/calstrs_investment_reports_2018.pdf)

Iran UANI Business Registry non-official source,

Gazprom, together with Frances Total and Malaysias Petronas, has already invested in phases 2-3 of massive South Pars gas field, a project worth around $2 billion. (Reuters, "Gazprom, Iran agree new large energy projects," 2/19/08) (http://www.reuters.com/article/idUSL1990944220080219)

Iran UANI Business Registry non-official source,

“Iran will offer foreign partners incentives to find and pump more crude and natural gas and will pay some fees in barrels as it seeks to boost income once international sanctions are lifted. New contracts Iran is developing will offer higher fees for riskier exploration and production projects, oil-ministry officials said at a conference in Tehran yesterday. Local and international executives attended a two-day meeting to discuss rules that would govern oil and gas production if Western curbs on Iranian energy exports are removed. The committee revising the Islamic republic’s contract model presented terms called the ‘Iran Petroleum Contract.’ ‘We’ve analyzed all the contracts in the market right now, all available beneficial models, and this is what we’ve come up with,’ Mehdi Hosseini, a government energy adviser who leads the ministry committee, said at the conference. ‘This is a good model, with flexibility.’ Russia’s OAO Gazprom (GAZP), China National Petroleum Corp. and Malaysia’s Petroliam Nasional Bhd., or Petronas, were among a dozen foreign firms the organizers said attended the conference. Western European companies were not present…International companies will act as the sole operator at oil and gas exploration blocks and will be responsible for the risks of those projects. NIOC may be a technical partner in the developments. The ventures will have 15 to 20 years to pump oil after seven to nine years of exploration under the new contracts, Hosseini said. Fees paid to international companies will be linked to the oil price and determined on a sliding scale, with riskier developments paying more, Hosseini said.” (Bloomberg, “Iran Plans Higher Fees for Riskier Oil Fields in New Accords,” 2/24/14) (http://www.unitedagainstnucleariran.com/company/gazprom) (http://www.unitedagainstnucleariran.com/company/cnpc) (http://www.bloomberg.com/news/2014-02-23/iran-plans-higher-pay-for-riskier-oil-fields-with-new-contracts.html)

Iran UANI Business Registry non-official source,

Malaysia’s state-owned energy company Petroliam Nasional Bhd signed an agreement to study two oil fields in Iran, joining international companies from Russia to France that plan to help boost the Persian Gulf nation’s oil and gas production. Petronas signed a memorandum of understanding to assess the South Azadegan and Cheshmeh Khosh oil fields, Gholam-Reza Manouchehri, deputy director of the National Iranian Oil Co., said at a signing ceremony in Tehran on Wednesday. In the past month, Iran has signed up Royal Dutch Shell Plc to Russia’s Gazprom Neft PJSC and Total SA to study its oil and gas potential after sanctions on its economy were eased in January. “We will be happy to work with the NIOC,” Anuar Taib, executive vice president and chief executive officer of upstream for Petronas, said at the ceremony. “We have 40 years of experience in exploration and production so we think we are qualified to do the job.” (Bloomberg News, "Malaysia's Petronas Agrees to Study Two Oil Fields in Iran," 12/21/2016). (https://www.bloomberg.com/news/articles/2016-12-21/malaysia-s-petronas-signs-deal-with-iran-to-study-two-oil-fields)

Iran UANI Business Registry non-official source,

Petronas is listed on the March 2019 Alaska Retirement Management Board, Companies Doing Material Business with Iran list. (http://treasury.dor.alaska.gov/Portals/3/docs/resolutions/ARMB%20Iran%20Divestment%20List%203-31-19.pdf)

Iran UANI Business Registry non-official source,

Relationships

Data sources

Iran UANI Business Registry2,713

List of companies involved in international business with or in Iran, including their withdrawal status from Iranian business ties, maintained by United Against Nuclear Iran (UANI).

United States · UANI · non-official source


For experts: raw data explorer