PETRONAS Dagangan Bhd (PBD) is currently working towards Petronas’ pledge of achieving net zero carbon by 2050, with plans under way to offset its carbon footprint.
Therefore, PDB has diversified its product portfolio in 3Q FY2020 to include the marketing of liquified natural gas (LNG) as a cleaner fuel option via the Petronas Group’s virtual pipeline system (VPS).
“PDB is now the first in Malaysia to supply LNG to off-grid customers in Peninsula Malaysia,” its managing director-cum-CEO Azrul Osman Rani pointed out.
“Additionally, it is also marketing LNG to the marine industry via Petronas’ first LNG Bunkering Vessel (LBV) – MV Avenir Advantage – which allows for ship-to-ship transfer, the first in Southeast Asia to offer such solution.”
In November last year, Petronas announced its Net Zero Carbon Emissions by 2050 Programme (NZSE), aimed at moving towards a holistic approach to sustainability that balances environment, social and governance (ESG) considerations.
“As the world contends with the many challenges brought about by energy transition, Petronas is embracing its role in providing access to affordable, secure and sustainable energy to businesses and society,” its president and group CEO Tengku Muhammad Taufik was reported saying.
“The group is committed to fulfill its purpose in providing cleaner energy and solutions that benefit both the world we live in as well as the customers we serve through reduced emissions.”
Innovation as key to future-proof business
Recently, PBD recorded a pre-tax profit (PBT) of RM386.4 mil for the financial year ending Dec 31, 2020, despite the sharp decline in petroleum product prices at the start of FY2020 and COVID-19-related movement restrictions.
Touching on PBD’s profits, Azrul attributed it to embracing innovation and accelerating plans to future-proof its business.
Among the innovation launched was its best fuel, the Petronas Primax 97 with Pro-Race, engineered to meet the demands of advanced technology engines as well as motorists’ desire for a more powerful, responsive and efficient performance.
The new fuel utilises a formula that is unique to Petronas; enhanced with the world’s first Advanced Dual Friction Modifier, making the fuel 25% more efficient in friction reduction, compared to its previous formulation.
“Our new breakthrough has created much excitement in the market and we have received many positive testimonials from our customers.
“We saw encouraging sales performance since the launch of Primax 97 and PBD is optimistic that the new fuel will contribute to higher volume for our gasoline segment, once the travel restrictions are lifted,” Azrul opined. – Feb 22, 2022.