Company report
| |
24 Pages

PETRONAS corporate report


PETRONAS corporate report

Report summary

Prior to last year's oil price crash, PETRONAS was seeking to re-establish long-term growth through an aggressive investment strategy. The company's focus was on new, technically challenging, themes including Floating LNG (FLNG), North American gas exports, deepwater development and a more focused approach to exploration. This strategy is set to remain largely unchanged as the company's strong balance sheet provides protection from lower near-term cash-flow. 

What's included?

This report includes 2 file(s)

  • PETRONAS corporate report PDF - 461.50 KB 24 Pages, 9 Tables, 22 Figures
  • Petronas Corporate Report.xls XLS - 3.76 MB

Description

The upstream oil and gas industry conducts activities against a backdrop of growing energy and environmental challenges. Political instabilities, international conflicts and government and environmental regulation have all impacted the production process.

This has forced companies to re-examine their corporate strategy, moving away from high-risk exploratory drilling to lower-risk exploration in mature basins as they search for increased returns.

This Upstream Oil and Gas Company report offers thought-provoking insight into corporate financial health, investment strategy and operational outlook supported by our proprietary asset data and energy research experts.

Widely used by both the energy and financial sectors, our report gives you a unique perspective on key strategic and financial challenges, as well as opportunities facing this oil and gas company.

Wood Mackenzie provides an independent evaluation and expert opinion on the operational performance, strategy and future of the world's top oil and gas companies. Our unique, objective analysis helps you understand, validate, compare and challenge market and corporate views so you can assess strategic opportunities.

  • Executive summary
    • SWOT Analysis
  • Strategy
    • Differentiated approach focused on long-term organic growth
    • Strategic positioning as oil prices collapsed
    • Strategic response to low oil prices
    • Financial outlook
    • Outlook for key performance metrics
    • Future strategic priorities
  • Portfolio summary
    • Malaysia: focus on mature assets, gas commercialisation and deepwater
    • Pace of mature asset exploitation has slowed due to low oil price
    • Surplus gas in the medium-term; subsidy burden should gradually ease
    • International portfolio: seeking to reduce high-risk exposure
      • Economic, technical and political risk characterise several international growth areas
      • Likely to seek new international areas of operation?
      • Latin America
      • China/Iran
      • East Africa
  • LNG
    • A core strategic focus with long-term growth options
    • Malaysia remains core, with a number of new developments underway
      • Expansion at Bintulu set for start-up in 2017
      • FLNG could be the next technology play
        • PETRONAS FLNG 1
        • PETRONAS FLNG 2
        • PETRONAS FLNG 2 economics
        • Large-scale international projects provide visibility on growth, but challenges remain
          • GLNG set for start-up in second half of 2015
          • Pacific NorthWest LNG progressing despite challenges to development
            • Conditional FID taken in June 2015
            • Long-term view is being taken on LNG supply
  • Economic assumptions
    • Economic assumptions

In this report there are 31 tables or charts, including:

  • Executive summary
    • Executive summary: Table 1
  • Strategy
    • Benchmarking: upstream NPV by region
    • Benchmarking: upstream NPV by resource theme
    • Benchmark: Upstream development spend (unit of production basis)
    • Strategy: Image 4
    • Evolution of Brent cash flow breakeven
    • Projected upstream cash flow by country
    • Wood Mackenzie forecast total production
    • PETRONAS: production by resource theme
    • NPV before and after
    • Upstream development costs
  • Portfolio summary
    • WM base case upstream NPV,10 by country
    • WM NPV,10: top assets by value
    • PETRONAS: domestic production upsides
    • Peninsular Malaysia gas supply/demand
    • International portfolio production outlook
    • Change in international portfolio value over 5 years
    • PETRONAS' Iraqi licences
  • LNG
    • LNG: Image 1
    • LNG: Image 2
    • PETRONAS FLNG 1 economics
    • LNG: Table 2
    • PNW LNG vs USGC LNG - pre-2014 tax changes
    • Comparison showing tax changes and 15% lower costs
  • Economic assumptions
    • Base price assumptions (nominal terms)
    • Economic assumptions: Image 1
    • Base, high, and low Brent (nominal terms)
    • High price assumptions
    • Low price assumptions
    • Value assumptions
    • Foreign exchange rate assumptions
Requester's name : .............
Department : .............
Authoriser's Name : .............
Authoriser's signature : .............
Date : .............
Cost Centre : .............

Questions about this report?

Frequently Asked Questions

Mailenquiries@woodmac.com
  • Europe: +44 131 243 4699
  • Americas: +1 713 470 1900
  • Asia Pacific: +61 2 8224 8898
contact us

Why Wood Mackenzie?

Wood Mackenzie, a Verisk Analytics business, has been a trusted source of commercial intelligence for the world's natural resources sector for more than 40 years, empowering clients to make better strategic decisions with objective analysis and advice.

We work across every sector of oil, gas, power, renewables, chemicals, metals and mining, covering more than 150 countries. Our proprietary data and models are at the core of everything we do, ensuring our independent asset and company valuations are thoroughly robust and that we offer an accurate forward-looking view of economic indicators such as market supply, demand and price trends.

Our 500+ analysts are based in the regions they cover, cultivating an unrivalled depth of understanding to help clients accurately identify new opportunities, define their strategy and improve business performance.

At every stage, our teams readily collaborate and share their insight to provide an integrated perspective across entire industries. It is this unique and rigorous analytical approach that ensures we are recognised as the industry standard by the world’s most innovative organisations.