Crude oil price crisis and lessons to learn from Petronas
Abstract
Any crisis will create risks and/or favourable opportunities for companies to increase the value of their assets and profits. Over the past 15 years, the market has experienced 4 major oil price crises (both rises and falls of price) causing difficulties to oil companies around the world. However, Petroliam Nasional Berhad (PETRONAS) has had reasonable strategies to overcome these crises. Petronas’ changes in operating mechanism and investment orientation, etc., over the past two decades can be considered valuable lessons for national oil and gas companies.
References
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Petronas, “Petronas activity outlook 2018 - 2020”. [Online]. Available: https://www.petronas.com/sites/default/files/2018-12/petronas-activityoutlook-2018-2020.pdf.
Petronas, “Petronas activity outlook 2019 - 2021”. [Online]. Available: https://www.petronas.com/ sites/default/files/Media/PETRONAS%20Activity%20 Outlook%202019-2021.pdf.
Petronas, “Petronas activity outlook 2020 - 2022”. [Online]. Available: https://www.petronas.com/sites/default/files/downloads/PETRONAS-ActivityOutlook-2020-2022.pdf.
Petronas, “Financial operational report (FY2012 - FY2019)”. [Online]. Available: https://www.petronas.com/media/reports?fbclid=IwAR3E7eL3MTi8UZEgw1q44jYkR DkHcryjcJ7sciijAYBRCNEUE7wRty_poQk.
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