Petroliam Nasional Bhd (PETRONAS)
Petroliam Nasional Bhd (PETRONAS) is a state-owned integrated oil and gas company headquartered in Malaysia. In 2020, it had USD 44.13 billion in revenue and a reported 47,669 employees*. Petronas is promoting natural gas as a low-carbon fuel and lacks short-term emissions reduction targets and a concrete transition plan. Its total scope 1, 2 and 3 emissions in 2019 were estimated to be the equivalent of 88% of Malaysia’s 2019 CO2 emissions.
- Ranking position
- #56 /100
- Total score
- 4.5 /100
- Performance score
- 1.9 /20
- Narrative Score
- ABCDE
- Trend Score
-
- Trend line is up
- Trend line is equal
- Trend line is down
Leading practices
No leading practices were identified for this company.
Risks and opportunities
Trend
Petronas receives a trend score of -. If the company were reassessed in the near future, its score would likely decrease. Petronas’ only near-term targets are to peak scope 1 and 2 emissions at a level which is 3% higher than its current levels and develop 3 GW of renewables by 2024. The company reports no detail around its long-term net-zero target and there is little evidence that it will succeed in decreasing its emissions in the near future.
Petronas does not have a detailed transition plan, emissions reduction targets or commitments to dedicate significant CapEx to low-carbon and mitigation technologies. Given this, it is unlikely that it will achieve a low-carbon transition aligned with its 1.5°C pathway.
Progress towards the Paris Agreement
See results for
More about the company
- Headquarters
- Kuala Lumpur, Malaysia
- Group revenue
- MYR 178,741,000,000 (USD 44.13 billion)
- Ownership structure
- State owned
- Number of employees
- 47,669
- Scope of activity
- Integrated
- Website
- https://www.petronas.com