HRC hopes for more push towards O&G digitalisation from Budget 2021
KUCHING: For Budget 2021, Hengyuan Refining Company Bhd ( HRC) hopes to see more initiatives towards accelerating the digitalisation of the oil and gas (O&G) industry.
HRC manages and operates a refinery in Port Dickson, Negeri Sembilan with licensed production capacity of 156,000barrels per day ( bpd).
The refinery is involved in the refining and manufacturing of petroleum products and provides employment for more than 500 people who are predominantly Malaysians.
“We hope to see more initiatives towards accelerating the digitalisation of the oil and gas industry, for instance incentives and capital tax allowances for new machinery upgrades,” chief executive officer Erkki Ranta said.
“This would enhance the efficiency and competitiveness of the oil and gas industry, towards being a sustainable and resilient player on the global scale.”
HRC also hoped for more subsidies and funds channeled towards the education and upskilling of the oil and gas workforce.
“Apart technical from enhancing know-how, other important focus areas include health, safety, and the environment, all of which are important to forming a reliable talent pool of highly competent skilled labour that can drive the industry forward.”
HRC, formerly known as Shell Refining Company ( Federation of Malaya) Berhad, was incorporated in Malaysia in 1960.
The company was listed on the Main Board of the then Kuala Lumpur Stock Exchange (now known as the Main Market of Bursa Securities) in 1962.