PETROLIAM Nasional Bhd's network of close to 950 service stations nationwide now control 44 per cent of the total retail market share, company officials said yesterday.
"As at end 2008, there were 750 Petrol kiosk dealers and operators, with 90 per cent of them Bumiputeras," Petronas president and chief executive officer Tan Sri Mohd Hassan Marican said at the second day of the 3rd Islamic Economic Congress in Kuala Lumpur yesterday.
His working paper was presented by Petronas corporate services vice-president Ahmad Nizam Salleh.
Mohd Hassan said although Petronas is relatively a "young" oil company, having just only started its business in 1974, Petronas is now a brand name that is well known globally.
"It is now considered on par with or even better than other international companies, especially when it was ranked among the top 100 of the Global Fortune 500 companies," he said. Petronas was ranked 95 last year, up from 121 the previous year.
During the question-and-answer session, Ahmad Nizam said Bumiputera dealers have benefited from Petronas' debut in retail petrol business, especially when Petronas Dagangan Bhd was set up in 1981.
"They (dealers) should be praised and congratulated as they were not given any preferential treatment when Petronas Dagangan was established.
"They have to compete with dealers from other companies such as Esso and Shell who have been in the business for more than 100 years," he said.
Adapted from BT.
