Incorporated as the national gas company of Malaysia on the 17th of August 1974, Petronas is an oil and gas company that is wholly owned by the government of Malaysia. It has been given the right to use all of the oil and gas resources within Malaysia along with the responsibility of development of said resources.
The Petronas Group in a wide array of activities involving petroleum such oil processing, refining and liquefaction. It has a become a substantial source of income for the Malaysian Government, providing about 45% of the government's budget. Its headquarters is in the Petronas Twin Towers in Kuala Lumpur.