Petronas expects breakeven in 6-10 years
Petronas (Retail) Thailand Co. Ltd, a subsidiary of Malaysia’s state-owned oil and gas company, Petroliam Nasional Berhad (Petronas), has extended the break-even period for its US$100-million investment in Thailand from six to 10 years. “After a year and a half of our presence in Thailand, we are undergoing a business restructuring to look into new businesses to compensate for the low marketing fee from the retail oil business. It could be completed in the next few months,” said Mohd Aidnil Bin Abdul Razak, managing director. In 2005, Petronas bought out the retail business of Q8 from Kuwait Petroleum International. Petronas posted a net loss of 650 million baht (US$17.29 million) last year and expects further losses
