PETRONAS REVVING UP OPS IN IN­DIA

Na­tional oil gi­ant to in­vest US$150m in next five years

New Straits Times - - Business - ZARINA ZAKARIAH KUALA LUMPUR bt@me­di­aprima.com.my

PETROLIAM Na­sional Bhd (Petronas) is en­hanc­ing its busi­ness strat­egy in In­dia by strength­en­ing and ex­pand­ing its pres­ence in the world’s fastest­grow­ing econ­omy.

Petronas, through its lu­bri­cant arm Petronas Lu­bri­cants In­ter­na­tional, is in­vest­ing US$150 mil­lion (RM643.83 mil­lion) over the next five years.

This in­cludes a US$50 mil­lion lu­bri­cant blend­ing plant with a 110 mil­lion-litre ca­pac­ity in Patal­ganga, which is ex­pected to be com­pleted by March next year.

The na­tional oil com­pany also hopes to fur­ther con­trib­ute to the energy needs of In­dia, which is the world’s fourth-largest liq­ue­fied nat­u­ral gas (LNG) mar­ket.

Pres­i­dent and group chief ex­ec­u­tive of­fi­cer Datuk Wan Zulk­i­flee Wan Arif­fin said Petronas had set its sights on In­dia’s energy sec­tor to lever­age on the coun­try’s LNG, con­sumer prod­ucts and clean energy de­mands to fuel its growth.

“Petronas aims to con­tinue to be part of In­dia’s ex­cit­ing jour­ney and sup­port its sus­tain­able growth am­bi­tions and com­mit­ments through fur­ther col­lab­o­ra­tions with our ex­ist­ing part­ners as well as through new strate­gic-fit op­por­tu­ni­ties,” he said in a state­ment yes­ter­day.

Wan Zulk­i­flee, who is cur­rently on Petronas’ an­nual of­fi­cial visit to meet with In­dia’s in­dus­try lead­ers and part­ners, said high on its pri­or­ity would be the ex­pan­sion of its LNG sup­ply there to help meet the ris­ing de­mands from the power, agri­cul­ture and trans­porta­tion sec­tors.

“Lever­ag­ing on its long his­tory and ster­ling rep­u­ta­tion in the global LNG busi­ness, Petronas has the added ad­van­tage to pro­vide tai­lor-made so­lu­tions across the LNG value chain such as flex­i­bil­ity, en­gi­neer­ing ex­per­tise and ex­pe­ri­ence in op­er­a­tions man­age­ment,” he added.

Petronas is the third largest LNG player glob­ally, with an­nual sup­ply ca­pac­ity of over 30 mil­lion tonnes.

To date, Petronas has de­liv­ered 15 LNG car­goes to In­dia and re­cently de­liv­ered the first cargo pro­duced from its float­ing LNG pro­duc­tion fa­cil­ity, the first such fa­cil­ity in the world, to In­dia.

BLOOMBERG PIC

Petronas has set its sights on In­dia’s energy sec­tor to lever­age on the coun­try’s LNG, con­sumer prod­ucts and clean energy de­mands to fuel its growth.

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