BUT, what is remarkable is that Petronas have never done any sort of company-wide staff reduction policy although they were rumoured to have done salary reductions in early , which they denied. Even freshies can earn up to RM4k a month! Sadly, the place is also known to have its share of lazier employees, with one of their ex-employees sharing this experience.
Then they go for breakfast come back at do some work until 12 they go out for a 2-hour lunch. Which is probably why Petronas are looking at these staff cuts in the first place. But with oil prices dropping thru the floor, every bit counts…. Here are your billions…. Image from Reddit. Petronas payments to gomen.
Image from orangminyak. So corporate tax is what us poor companies pay the gomen everytime we earn money. If you earn more? So this means for every RM1 they earn, the government gets RM0.
ON TOP of that, they also pay a dividend to the government which varies depending on their profit. Petronas is also the responsible authority for licensing any third party contractors wishing to participate in upstream petroleum activities and licensing goods and service providers operating in the upstream sector, including providers of rigs and drilling services and supply of general goods and services related to upstream operations. This includes people like Esso and Shell, which have to co-develop, or at the very least lease areas from Petronas to look for oil.
Malaysia gives them the rights to the oil, and in return, Petronas pays a crapload of tax, and RM16 billion in rental to the gomen. But despite that…. Interviews with current and former officials and an examination of Petronas and government documents show that strains have been building behind the scenes over how much money the company hands over to the government in the form of fuel subsidies, dividends and taxes. It stores the LNG in two floating storage units and converts them into sales gas.
The sales gas is then injected into the PGU pipeline network to be distributed to customers. The regasification division receives income from the year regasification service agreement.
Since , this division has made RM million in sales a year. Gross profits have dipped marginally from RM It has increased from RM2. This is mainly due to the expansion of the PGU pipeline network and additional sales from its newly established LNG regasification division over the year period.
During the global financial crisis, the company saw its earnings decline from RM 1. This was due to a hike in fuel gas cost. But evidently, Petronas Gas was still able to generate profits and had the financial resources to withstand the financial crisis.
Petronas Gas has a year return on equity ROE average of This means the company has made, on average, RM Petronas Gas has generated RM It has raised another RM1. Out of which Petronas Gas has allocated:. As a result, Petronas Gas has steadily increased its cash reserves from RM The amount of DPS paid out has grown from There are several key highlights that will affect the future performance of Petronas Gas.
They include:. The length of the entire agreement is effective from 1 April to 31 December The remuneration terms, however, are revised prior to the expiry of each term as follows:. Costing RM2. Petronas Gas is setting up an air separation unit plant in Pengerang, Johor.
It formed a joint venture company — Pengerang Gas Solutions — with Linde Malaysia to undertake the development.
Upon completion, the plant is anticipated to have the capacity to generate 1, tons of oxygen per day and 1, tons of nitrogen per day respectively. In conclusion, Petronas Gas has delivered steady growth in revenues, profits, and dividend payouts over the last 10 years. Social Responsibility. External Environments. Management Functions. This company is fully owned by Malaysia Government. The corporation is vested with the entire oil and gas resources in Malaysia and is entrusted with the responsibility of developing and adding value to these resources.
Petronas is ranked among Fortune Global 's largest corporations in the world.
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