Petronas Gas Berhad

Energy
KLSE: PETGAS
Malaysia

On September 19, 2007, Petronas Gas was added to the Florida State Board of Administration List of Prohibited Investments (Scrutinized Companies) due to its involvement in Iran. As of March 9, 2021, Petronas Gas remains on the SBA list of prohibited investments. 

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In 2020, the U.S. state of Mississippi listed Petronas Gas on its state lists of Companies Doing Business with the Iranian Petroleum/Natural Gas, Nuclear and Military Sectors, rendering it ineligible for investment and/or state contracting.

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On June 1, 2020, the Ohio Police & Fire Pension Fund (“OP&F”) listed Petronas Gas on its scrutinized companies Iran/Sudan list.   On September 24, 2008, OP&F adopted an Iran and Sudan Divestment Policy, which notes, “[t]he purpose of this Policy is to divest and restrict the purchase of stocks and bonds (“direct holdings”) issued by a publicly traded Company… with “scrutinized active business operations” in Iran and Sudan.”  

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As of May 28, 2020, the Florida State Board of Administration (“SBA”) continues to list Petronas Gas on its list of “Scrutinized companies with Activities in the Iran Petroleum Energy Sector.” 

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On January 13, 2020, the South Dakota Investment Council submitted a report to the Executive Board of the Legislative Research Council regarding compliance with SDCL 4-5-48 to 4-5-60, Iran Divestiture. Included in this report is an Iran Scrutinized Companies list of all prohibited investments for which the internal managers and direct external managers are instructed not to purchase any company on the list. Petronas Gas is included on this list.

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As of December 31, 2019, the Alaska Retirement Management Board lists Petronas Gas as a company doing material business with Iran.  

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Petronas Gas is listed on the June 4, 2019 and July 12, 2019 Florida State Board of Administration list of prohibited investments (Scrutinized companies) for Iran related business.

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Petronas Gas Bhd is listed on the June 2019 Alaska Retirement Management Board, Companies Doing Material Business with Iran list.

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On March 13, 2019, the Mississippi Department of Finance & Administration identified Petronas Gas as a company “engaged in investment activities in Iran, providing funds, goods or services valued at $20,000,000 or more in the energy sector of Iran.”  

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Petronas Gas Bhd is listed on the March 2019 Alaska Retirement Management Board, Companies Doing Material Business with Iran list.

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In 2017 the U.S. state of Alaska, Florida, Texas listed Petronas Global  on its list of companies doing material business with Iran rendering Petronas Global ineligible for investment and/or state contracting.

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 In 2018 the U.S. state of Ohio listed Petronas Global Sukuk on its list of entities determined to be engaged in prohibited activities in Iran rendering Petronas Global Sukuk ineligible for investment and/or state contracting.

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Petronas Gas Berhad is the gas wing of the Malaysian national oil company, Petronas. Petronas Gas Berhad is engaged in gas processing, gas transmission, industrial utilities, and engineering management services (Company Website). 

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In 2004, Petronas Gas signed a shareholder agreement with the National Iranian Oil Company to create a liquefied natural gas company, Pars LNG Co (Company Timeline). 

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Petronas Gas has been targeted for divestment by the Florida State Board of Administrators over its involvement with the Iranian petroleum industry.