Asian Oil Intelligence Desk
Corporate Intelligence
Auditor-grade due-diligence profiles of national oil companies, international oil companies, and major private energy operators worldwide — prepared with the rigour of a Big Four institutional review.
PDVSA
Integrated · Venezuela
Petróleos de Venezuela S.A. (PDVSA) is Venezuela's state oil company, holder of the world's largest proved oil reserves predominantly in the Orinoco Belt heavy oil belt. Production recovered to approximately 800–900 kbpd in 2024 following years of decline from peak 3.2 mbpd, supported by Iran and China technical assistance and Chevron licence operations. Financial data is not publicly disclosed in accordance with international standards. Revenue accrues to the Venezuelan state budget with exten...
Pemex
Integrated · Mexico
Petróleos Mexicanos (Pemex) is Mexico's state-owned integrated oil company, controlling upstream production, refining, petrochemicals, and retail via approximately 13,000 service stations. Cantarell decline has been partially offset by Ku-Maloob-Zaap and onshore fields, though total crude output remains below 1.6 mbpd. FY2024 financials showed revenue near $78 billion with persistent net losses driven by high tax burden, refining losses, and debt service exceeding $100 billion in total liabilit...
Pertamina
Integrated · Indonesia
PT Pertamina (Persero) is Indonesia's state energy holding company spanning upstream (Pertamina Hulu), refining (6 refineries, 1 mbpd capacity), petrochemicals, and 5,500+ retail stations. Domestic production approximates 450 kbpd with declining mature fields. FY2024 revenue approximated $55 billion with net income near $2 billion. Refining import dependence remains a strategic challenge with RDMP refinery upgrade programme ongoing. Balikpapan and Cilacap are the largest refineries. Geothermal...
Petrobras
Integrated · Brazil
Petróleo Brasileiro S.A. (Petrobras) is Brazil's state-controlled integrated energy company and the largest producer in Latin America, operating pre-salt deepwater fields in the Santos and Campos basins. The company spans upstream E&P, refining, gas and power, biofuels, and logistics via Transpetro. FY2024 results reflected strong pre-salt production above 2.1 mbpd with revenue of approximately $95 billion and net income near $24 billion, supported by Brent-linked export pricing and domestic fu...
PetroChina
Integrated · China
PetroChina Company Limited is the listed arm of CNPC and Asia's largest oil and gas producer, operating upstream fields in Daqing, Tarim, and Changqing, plus refining capacity exceeding 2 mbpd and 22,000+ retail stations. FY2024 revenue approximated $430 billion with net income near $25 billion. Domestic production exceeds 4.3 mbpd oil equivalent with growing natural gas share from Sichuan and Tarim basins. Refining and chemicals provide integrated margin capture. Strategic priorities include...
Petronas
Integrated · Malaysia
Petroliam Nasional Berhad (Petronas) is Malaysia's state oil company and a major global LNG player, producing approximately 1.7 mbpd oil equivalent from Malaysian offshore fields and operating 12 mtpa LNG export capacity at Bintulu. Downstream includes refining and petrochemicals. FY2024 revenue approximated $75 billion with profit near $15 billion. Kasawari and Rosmari gas projects support LNG feedstock. International E&P spans Brazil, Canada (Progress Energy), and Iraq. Petronas Chemicals is...
Petroperu
Downstream · Peru
Petroperú S.A. is Peru's state-owned oil company, primarily operating the Talara refinery complex following upstream divestment to PetroTal and others. The Talara Modernization Project (TMP) completed in 2023, upgrading capacity to 95 kbpd with improved clean fuels capability. FY2024 revenue approximated $4.5 billion with net losses near $200 million during Talara ramp-up and financing costs on $2.5 billion modernization debt. The government provided guarantees and tariff support for the projec...
PetroVietnam
Integrated · Vietnam
Vietnam Oil and Gas Group (PetroVietnam/PVN) is the state energy holding company spanning upstream (PVEP), refining (Dung Quat, Nghi Son), power generation, and PV Gas LNG infrastructure. Domestic production approximates 200 kbpd with declining mature fields. FY2024 group revenue approximated $25 billion. Dung Quat refinery (148 kbpd) and Nghi Son refinery (200 kbpd) reduce product import dependence. Block B gas and Ca Voi Xanh (Blue Whale) projects support gas-to-power. Long Son petrochemical...
Phillips 66
Downstream · United States
Phillips 66 is a diversified energy manufacturing company with refining (2.0 mbpd capacity), midstream (DCP Midstream, Phillips 66 Partners), chemicals (Chevron Phillips Chemical 50% JV), and marketing segments. Spun off from ConocoPhillips in 2012. FY2024 revenue approximated $130 billion with net income near $3.5 billion. Rodeo Renewed project converted San Francisco refinery to renewable fuels. Midstream NGL processing provides fee-based earnings stability. Portfolio optimisation includes e...
PKN Orlen
Integrated · Poland
PKN Orlen is Central Europe's largest integrated energy company following mergers with Lotos and PGNiG, creating a refiner, petrochemical producer, and gas utility spanning Poland, Czech Republic, Lithuania, and Germany. Refining capacity exceeds 900 kbpd across Płock, Gdańsk, and Czech assets. FY2024 revenue approximated $42 billion with net income near $3 billion. PGNiG integration added upstream gas production from Norway and domestic Polish fields. Orlen Lietuva (Mažeikiai refinery) provide...
PTT
Integrated · Thailand
PTT Public Company Limited is Thailand's national energy conglomerate spanning E&P (PTTEP), refining (Thai Oil, TOP), petrochemicals (PTTGC), and 2,000+ retail stations via OR subsidiary. Domestic gas production from Gulf of Thailand feeds power generation and petrochemicals. FY2024 revenue approximated $85 billion (consolidated) with net income near $3 billion. Myanmar pipeline gas imports supplement declining domestic Gulf of Thailand production. LNG import terminal at Map Ta Phut supports ga...
PTTEP
Upstream · Thailand
PTT Exploration and Production (PTTEP) is the upstream subsidiary of PTT Group, producing approximately 500 kbpd oil equivalent from Thailand, Malaysia, Myanmar, UAE, and Algeria. International portfolio provides 70%+ of production. FY2024 revenue approximated $8 billion with net income near $1.5 billion. Zawtika (Myanmar) and Sirikit (Thailand) are key gas assets. Hassi R'Mel (Algeria) and Abu Dhabi concessions anchor MENA portfolio. E&P growth focus on Southeast Asia gas and Middle East oil....
