PETRONAS today announced a five-year agreement with major auto-manufacturer Mercedes, marking a new partnership for the company in Formula One. Under the terms of the agreement, PETRONAS will become the title partner to the Mercedes GP team, the reigning Formula One world champions. The team will from 2010 be officially known as the Mercedes GP PETRONAS Formula One Team.

The partnership also allows related business arrangements with Mercedes that will support PETRONAS’ international business expansion efforts, particularly in its global lubricant business….(Click for more info)

Petroliam Nasional Berhad (“PETRONAS”) today confirmed that it is preparing two business entities to be listed on the Bursa Malaysia this year.

This follows the announcement made by Malaysia’s Prime Minister YAB Dato’ Sri Najib Tun Razak during his keynote address at Invest Malaysia 2010 on 30th March that PETRONAS had identified two listings for this year.

The two businesses slotted for listing on the Bursa Malaysia are PETRONAS’ petrochemicals business and its heavy engineering arm, Malaysia Marine and Heavy Engineering Sdn Bhd (“MMHE”), which resides in MISC Berhad as a wholly-owned subsidiary.

“Like our other listed subsidiaries, these two new listings will allow the investing public to participate directly in some of PETRONAS’ businesses – in this case, our petrochemical and heavy engineering businesses,” said Dato’ Shamsul Azhar Abbas, PETRONAS’ President/CEO and Acting Chairman. “We hope that these listings will add further depth to the Bursa Malaysia.”…(Click for more info)

Back in 1979, the German Prime Minister announced that coal was the “fuel of the future,” and the energy industry was all abuzz about the possibilities, including coal-powered cars. Ha! Gasoline doesn’t look so bad now, eh?…(Click for more info)