BERNAMA (Malaysia): Shell Malaysia Invests Rm70 Mln Over Past Four Decades: “Shell Malaysia, the country's largest direct foreign investor, has invested about RM70 billion over the past four decades, according to the "Shell Malaysia Sustainable Development Report 2003." (ShellNews.net) 22 Dec 04
BINTULU, Dec 22 (Bernama) -- Shell Malaysia, the country's largest direct foreign investor, has invested about RM70 billion over the past four decades, according to the "Shell Malaysia Sustainable Development Report 2003."
"It has also an investment commitment of RM12 billion for the five year plan period of 2003 to 2007," the report said.
It said that each year Shell Malaysia contributed over RM10 million to the country's social development and community projects and at the end of last year has employed some 5,000 people of whom 95 percent are local staff.
Except for highly specialised equipment, Shell Malaysia has given priority to buying local products and services, thus supporting local businesses through procurement and services that had contracted out, the report said.
Shell Malaysia is primarily engaged in Exploration and Production (EP), Oil Products (OP) and Gas and Power (GP), and to-date has active participating interest in 19 production Sharing Contracts (PSCs) with PETRONAS, the country's oil corporation, in various offshore blocks in East and Peninsular Malaysia.
In the Gas and Power sector, it is a shareholder in the Malaysian Liquefied Natural Gas (MLNG), besides being a major and operating shareholder of the Shell Middle Distillate Synthesis (SMDS) here.
The SMDS is also the world's first "Gas To Liquid" (GTL) plant and was an official supplier of the green diesel, a recently developed environmental friendly transport fuel to the Athens 2004 Olympics.
The fuel dubbed the "designer fuel" is now sold in Austria, Netherlands, Greece and Germany.
In the Oil Products it is involved in refining, marketing, trading and in distribution and supply.
It operates the largest refinery in the country and is the retail petroleum market leader with over 825 retail stations nationwide.
-- BERNAMA
http://www.bernama.com/bernama/v3/news_lite.php?id=110078