Question A2 PETRONAS, short form for Petroliam Nasional Berhad, is a Malaysian oil and gas company, wholly owned by the Government of Malaysia. Headquartered in Kuala Lumpur, Petronas owns the entire oil and gas resource in Malaysia and is responsible for developing and adding value to these resources. In 2013, Fortune ranked PETRONAS as the 75th largest company in the world, the 19th most profitable company in Asia. PETRONAS has business interests in 35 countries and is engaged in a wide spectrum of petroleum activities, including upstream exploration and production of oil and gas as well as downstream oil refining, marketing, and distribution. Revenue derived from PETRONAS provides roughly 45 percent of the Malaysian governments annual budget. PETRONAS was one of the main sponsors of the BMW Sauber Formula One team before sponsoring the Mercedes Grand Prix team. PETRONAS is the main sponsor for the Malaysian Grand Prix and Co-sponsors the Chinese Grand Prix. Among other strategies, PETRONAS is pursuing backward integration by purchasing its own ships to transport its own oil and gas, especially its liquefied natural gas (LNG). PETRONAS id directly procuring new LNG ships to meet its LNG transportation requirements. The strategy will allow PETRONAS to have direct access to LNG shipping capacity at the lowest possible costs. PETRONAS has engaged MISC BHD to provide Project Management and Technical Consultancy Services for the construction of its new LNG ships; MISCs has extensive experience and expertise in the LNG shipping sector and is familiar with PETRONAS business needs. PETRONAS since 1975 has awarded 20,600 Malaysian students scholarship, including a total of 400 deserving students in 2013 to pursue their education under its PETRONAS Education Sponsorship Programme (PESP). Scholarship recipients are chosen during rigorous selection days held across Malaysia, and are offered opportunities to take education at overseas institutions or at the Universiti Teknologi PETRONAS in Perak. The aim of PESP is to develop the skills of a pool of young people who meet PETRONAS business requirements.

Based on above case study /article, answer all of the following questions:

a) Identify 3 (THREE) strategies approach by PETRONAS.

b) Discuss 2(TWO) advantages and benefits according to the above strategies.