CCS Companies (IV): PETRONAS (Malaysia National Oil Company)

In the latest GCCSI report, 'State of Art: CCS Technologies 2024', I came across my home country Malaysia’s national oil company—PETRONAS—and its technology called the 'Membrane Contactor'. The Membrane Contactor is a natural gas decarbonization technology based on polytetrafluoroethylene (PTFE) hollow-fiber membrane contactors, jointly developed by PETRONAS and the Dalian Institute of Chemical Physics. This technology has successfully completed industrial-scale trials at a PETRONAS natural gas processing plant and met contractual requirements. PETRONAS is also actively advancing its CCS development! #About PETRONAS As Malaysia’s national petroleum company, PETRONAS is led by CEO Tengku Muhammad Taufik, who plays a pivotal role in steering the company toward a low-carbon future. According to PETRONAS’s official documents, the Group is committed to achieving net-zero carbon emissions by 2050—a commitment underscored in its 2021 sustainability report. Beyond the PTFE hollow-fiber membrane contactor technology for natural gas decarbonization, PETRONAS also focuses on clean energy solutions through its subsidiary Gentari, targeting 30–40 gigawatts (GW) of renewable energy capacity by 2030. Internationally, PETRONAS signed a Memorandum of Understanding (MoU) with China Petroleum & Chemical Corporation (Sinopec) to jointly promote growth across the entire energy value chain and explore new industry opportunities. Additionally, the company plans to reduce and offset hard-to-abate emissions via CCS projects and nature-based climate solutions. CCS Project The project is named the 'Kasawari CCS Project', located offshore Sarawak, Malaysia—it is Malaysia’s first integrated offshore carbon capture and storage (CCS) project. It involves capturing and processing carbon dioxide (CO₂) from sour gas field development, followed by injecting the CO₂ into depleted gas reservoirs. This initiative forms a key pillar of PETRONAS’s pathway to net-zero emissions by 2050. PETRONAS Carigali—the company’s wholly owned subsidiary—made the Final Investment Decision (FID) for this project in November 2022. Once operational, the Kasawari CCS Project is expected to become one of the world’s largest offshore CCS projects, reducing CO₂ emissions from combustion by 3.3 million tonnes annually. This RM4.5 billion mega CCS project is projected to capture and store up to 3.3 million tonnes of CO₂ per year; upon completion, it will rank among the world’s largest offshore CCS platforms. Kasawari Gas Field Overview An offshore natural gas field located in the South China Sea off Malaysia’s coast, discovered in November 2011. It is estimated to hold approximately 3 trillion cubic feet of recoverable natural gas resources.

Introduction to the Fortune Global 500 (Rankings 251–300)

Company Profile: Continental AG is a German transportation industry manufacturer. Its main products include tires, braking systems, vehicle stability control systems, engine injection systems, tachometers, and other automotive and transportation components. Headquartered in Hanover, Germany, Continental is the world’s fourth-largest tire manufacturer, trailing Bridgestone, Michelin, and Goodyear. (Source: Wikipedia) 273. BHP Company Profile: BHP is the world’s largest diversified mining company and the largest global resources company. In fiscal year 2017–2018, the company reported total revenue of approximately USD 43.638 billion and after-tax profit from continuing operations of USD 6.694 billion, ranking among the fastest-growing companies on the Fortune Global 500. As of December 2018, its market capitalization stood at approximately AUD 107.303 billion. (Source: Wikipedia) 274. Woolworths Group Company Profile: Woolworths Group is an Australian retail company operating primarily in Australia and New Zealand. On December 28, 2016, BP acquired 527 Woolworths service stations and 16 under-construction stations for USD 1.3 billion. (Source: Wikipedia) 275. Progressive Corporation Company Profile: Progressive Corporation is a U.S.-based insurance company and one of America’s largest auto insurers. It provides insurance for motorcycles, boats, recreational vehicles (RVs), and commercial vehicles, and offers home insurance through select partner companies. Progressive has expanded internationally, offering auto insurance in Australia. (Source: Wikipedia) 276. Sanofi Company Profile: Sanofi, headquartered in Paris, France, is the world’s fifth-largest pharmaceutical company, engaged in the research, development, manufacturing, and marketing of pharmaceutical products. Its portfolio spans seven therapeutic areas: cardiovascular disease, thrombosis, oncology, diabetes, central nervous system disorders, internal medicine, and vaccines. (Source: Wikipedia) 277. Petroliam Nasional Berhad (PETRONAS) Company Profile: PETRONAS—short for Petroliam Nasional Berhad or Malaysia National Oil Company—is a Malaysian state-owned oil and gas company established on August 17, 1974. As a fully government-owned enterprise, PETRONAS holds exclusive rights over all petroleum and natural gas resources in Malaysia and bears responsibility for their development and value creation. (Source: Wikipedia) 278. Bristol-Myers Squibb Company Company Profile: Bristol-Myers Squibb is a U.S.-origin multinational pharmaceutical company formed in 1989 through the merger of two major American pharmaceutical firms: Bristol-Myers and Squibb. Bristol-Myers was founded in 1887 in Clinton, Oneida County, New York, by William McLaren Bristol and John Ripley Myers—both graduates of Hamilton College. Squibb was founded in 1858 in Brooklyn by inventor Edward Robinson Squibb. (Source: Wikipedia) 279. Tsingshan Holding Group Co., Ltd. Company Profile: Tsingshan Holding Group operates across manufacturing, sales, warehousing, investment, and import-export trade. Its core products include stainless steel ingots, billets, plates, wire rods, and seamless tubes—widely used in petroleum, chemical, machinery, power generation, automotive, shipbuilding, food, pharmaceutical, and interior decoration industries. The company also produces raw materials, intermediates, and batteries for new-energy applications, primarily serving energy storage systems and electric vehicles.

Petronas Chemicals appoints new CEO/managing director

4 hours ago

Petronas Chemicals Group Bhd. appointed Izwan Ismail as its new managing director and CEO effective Jan. 1, 2027. Ismail succeeds Mazuin Ismail and brings experience leading the group's technology and digital ecosystem transformation.

chemweek

2026-10-05

Petronas Chemicals appoints new CEO/managing director

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