Progress Energy Changes Name to PETRONAS Energy Canada

CALGARY, Nov. 23, 2018 /CNW/ - Progress Energy Canada Ltd. is pleased to announce it has changed its name to PETRONAS Energy Canada Ltd. (PETRONAS Canada), effective November 22. PETRONAS is Malaysia's fully integrated oil and gas multinational ranked among the largest corporations on FORTUNE Global 500^®. PETRONAS entered Canada as part of a joint venture with Progress Energy in 2010, and Progress Energy became a subsidiary of PETRONAS in 2012.

"The name change is a reflection of our parent company's commitment to Canada and the strength of our business in the company's overall portfolio," says Mark Fitzgerald, President & CEO of PETRONAS Canada. "As part of such a progressive global entity for the past six years, we are extremely proud to be PETRONAS in name as well."

With one of the largest natural gas resources in North Montney, northeast B.C., PETRONAS Canada is well-placed to implement key strategies for business growth and is focused on obtaining access to market hubs across North America as well as participation in LNG and petrochemical projects.

PETRONAS Canada is well-positioned to provide global markets relying on emission-intensive hydrocarbons, such as coal, with clean, responsibly developed Canadian energy as a result of its dominant position in the North Montney. 

"With the energy transition that's underway, there is significant opportunity in front of us for Canada to be a leader in reducing greenhouse gas emissions in countries around the world, while we also reduce emissions here at home," says Fitzgerald. "We want to be at the forefront of that."

About PETRONAS Energy Canada Ltd.

As one of the largest natural gas resource owners in the country, PETRONAS Canada is focused on responsibly producing the cleaner burning fuel for decades to come. It is a company that values its relationships and partnerships with First Nations and all stakeholders, and is committed to being a valued partner in the communities where it operates. For more information, please visit petronascanada.com.

About Petroliam Nasional Berhad (PETRONAS)

Established in 1974, Petroliam Nasional Berhad (PETRONAS) is Malaysia's fully integrated oil and gas multinational, ranked among the largest corporations on FORTUNE Global 500^®. With proven capabilities across the entire petroleum value chain, we steadily drive new solutions and push boundaries in our core Upstream and Downstream business areas by adding value to oil and gas resources in a manner that carefully balances commercial and social considerations. Our operations span the globe and we continue to strengthen our integrated portfolio through collaboration, technological advancements, and operational excellence with the highest standards of safety to meet the world's growing energy demand. For more information, please visit www.petronas.com.

SOURCE PETRONAS Energy Canada Ltd.

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