Some posters like
@VitaminD are complaining about FAR'S poor timing estimates (can't deny they need to double their estimates and add some) and insinuate that you can't drill a hole in the ground because of it?
Don't think drilling s hole has been the issue for FAR up to now. More about extracting value for their shareholders afterwards. Seems the major holders are doing something finally about the latter.
If worried about the hole drilling part, maybe folks should have a closer look at their partner who are more than capable.
Petroliam Nasional Berhad (National Petroleum Limited), commonly known as
Petronas, is a
Malaysianoil and
gas company. Established in 1974 and wholly owned by the Government of Malaysia, 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 500's largest corporations in the world. In the 2017
Forbes Global 2000, Petronas Gas was ranked as the 1881st largest public company in the world.
[8]
Since its incorporation, Petronas has grown to be an integrated international oil and gas company with business interests in 35 countries. As of the end of March 2005, the Group comprised 103 wholly owned subsidiaries, 19 partly owned outfits and 57 associated companies. Together, these companies make the company, which is involved in various oil and gas-based activities. The
Financial Times has identified Petronas as one of the "
new seven sisters":
[9] the most influential and mainly state-owned national oil and gas companies from countries outside the
OECD.
The group is engaged in a broad spectrum of petroleum activities, including
upstream exploration and production of oil and gas to
downstream oil refining; marketing and distribution of
petroleum products; trading; gas processing and
liquefaction; gas transmission
pipeline network operations; marketing of
liquefied natural gas;
petrochemical manufacturing and marketing; shipping;
automotive engineering; and property investment.
Petronas provides a substantial source of income for the Malaysian government, with half of the government's budget dependent on the company's dividend, moreover in 2011 actual government balance has 5 percent deficit of gross domestic product.
[10]
The company is headquartered at the
Petronas Towers which was officially opened on Malaysia's 42nd National Day, 1999 – in the corporation's 25th Anniversary year.
Total assets in 2020 was 144 billion usd.
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