Well-spring of hope

PETRONAS or Petroliam Nasional Bhd, the national oil company, turns 25 this month. Although a quarter of a century may be a relatively long time to be in business, it is still an `infant' where the oil industry is concerned. Even so, it has managed to take on the veteran multinational oil and gas giants both at home and abroad. In 1990, Petronas began to venture beyond Malaysian shores looking for the elusive black gold. It began its global quest with the acquisition of a 15 per cent stake in an offshore block in Myanmar. Today, it has operations in at least 20 countries (see table on page 14) bringing in revenues of RM14.3 billion. For the financial year ended March 31, 1999, the group's…