KUALA LUMPUR, Nov 21 -- Malaysia’s national oil company PETRONAS is accelerating efforts to strengthen its business footprint in India by providing more innovative, tailor-made solutions that add value to the country’s energy aspirations.
With more than 20 years of strategic partnerships covering six business segments in India, PETRONAS continues to support the country’s aspiration to grow sustainably by pushing the boundaries of its expertise and technological advancements, it said in a statement.
Over the years, India has grown in leaps and bounds, driven by rapid urbanisation and the rising middle class. By 2030, India will be home to seven megacities and see higher demands for energy, power and consumer goods.
“PETRONAS is on track to build an effective business ecosystem in India to better serve our customers and stakeholders in this important market,” PETRONAS Energy (India) Pvt Ltd chairman Rizan Ismail was quoted as saying in a statement in conjunction with PETRONAS’ annual official visit to meet customers and partners in Mumbai, India’s financial capital, recently.
In the past two decades, PETRONAS has made significant headways in enhancing its portfolio in India across the value chain, covering crude oil trading, liquified petroleum gas (LPG), petrochemical, lubricants, liquified natural gas (LNG), and more recently, renewables.
Following the setup of a New Energy Business Unit, PETRONAS made its maiden foray into the renewable energy business in April 2019, with the acquisition of Amplus Energy Solutions Pte Ltd (Amplus) – a leading distributed energy solutions provider and developer that serves major customers across India, with a cumulative capacity of 600MW in operation and under development.
“The acquisition is in alignment with our aspiration to provide clean energy options that enrich people’s lives. Ultimately, we want to be known in India as a trusted partner and the leading provider of clean, cost-effective and sustainable solutions,” said Rizan.
Recently, Amplus achieved another milestone when it launched a new 75MW open access solar plant in Mirzapur in northern India's state of Uttar Pradesh.
This plant will offer low carbon energy solutions to industrial and commercial customers in Uttar Pradesh and it also happens to be the state’s first Open Access plant, he said.
Meanwhile, PETRONAS’ lubricant business in India saw continued progress with the commencement of commercial operations for the company’s lubricant blending plant in Patalganga, Maharashtra.
With a production capacity of 97,000 million tonnes per annum (mtpa), it enables PETRONAS to achieve its distribution network expansion to 35,000 outlets from the current 12,000 outlets across the country by 2021.
In addition, PETRONAS’ LNG business in the country is expected to expand further as it explores potential opportunities throughout the gas value chain.
This reflects PETRONAS’ commitment to support India’s aspiration of having natural gas achieve 15 per cent of the country’s total energy mix by 2030, by co-creating the gas market.
Currently, PETRONAS is actively tapping into India’s innovation ecosystem by forging strategic collaborations with major India-based companies. These include working with TATA Consultancy Services to optimise the downstream integrated supply chain, as well as Accenture Ventures in Bengaluru and GEP in Mumbai to develop a centralised system for PETRONAS digital procurement.
On the sidelines of the official visit, PETRONAS group president and chief executive officer Tan Sri Wan Zulkiflee Wan Ariffin officiated the opening of the offices of PCM (Chemical) India Pvt Ltd, PETRONAS (Energy) India Pvt Ltd and PETRONAS Lubricants (India) Pvt Ltd in New Delhi.
PETRONAS, through its Universiti Teknologi PETRONAS (UTP), also signed MoUs with local institutions such as Amity University; BMS College of Engineering; Central Institute of Technology (CIT) Kokrajhar; and Vellore Institute of Technology (VIT) for collaboration in the areas of academic expertise exchange, research projects cooperation and students exchange.
This marks the company’s commitment to expanding collaboration with its Indian counterparts in the energy space and beyond.
“Moving forward, we will ramp up efforts to innovate and customise our product offerings by leveraging the business synergy shared with our partners in India, as well as our integrated experience and expertise in providing innovative solutions,” said Rizan.
KUALA LUMPUR, March 28 -- Bank Pembangunan Malaysia Bhd (BPMB) will provide all relevant support to its customers facing difficulties including granting a moratorium on repayments/payments of loans/financings for a period of six months.
KUALA LUMPUR, March 27 – Tenaga Nasional Berhad (TNB) has pledged RM150 million to support the government’s announcement of a tiered electricity rebate to assist affected Malaysians following the extension of the Movement Control Order (MCO) period until April 14.
KUALA LUMPUR, March 26 -- Energy and Natural Resources Minister Datuk Dr Shamsul Anuar Nasarah has expressed confidence on the preparedness of Tenaga Nasional Bhd (TNB) in revving up its capacity to meet electricity supply demand in the Peninsula during the Movement Control Order (MCO).
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