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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
Performance module name Performance module score Rank (0-100)

Targets

0.0 /100 #38

Material Investment

7.3 /100 #47

Intangible Investment

0.0 /100 #20

Sold products

10.0 /100 #14

Management

23.4 /100 #70

Supplier Engagement

2.5 /100 #49

Client Engagement

10.0 /100 #27

Policy Engagement

20.0 /100 #47

Business Model

15.0 /100 #15

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

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