Audit Practice
Question 1
1.0 Nature of the Shell Refining Company
Our group has selected Shell Refining Co. Bhd (F.O.M) as our assignment topic’s company. It’s a Malaysian based company located in Port Dickson which produces wide range of petroleum products, mostly consumed within Malaysia. It was incorporated in Malaysia on 19 September 1960 and was listed on KLSE on 29 October 1962. Its parent company is Royal Dutch Shell PLC. The company vision is to be the top performing and most admired refinery in Asia. Their main mission is to continue to deliver shareholder value by developing and distributing oil products and service that satisfy the needs of consumers and constantly strive for operational excellence. The company is devoted to bring excellence in business performance by focusing to meet customer’s expectation and to bring profits for their shareholders as this has been set as their main objective.
The main activity of the company is to refine and manufacture petroleum products. The company's products include gasoline, diesel, liquefied petroleum gas (LPG), propylene, jet fuel, aviation turbine fuel and sulfur. It’s divided into 2 operations which are Upstream and Downstream operations. Their Upstream International operation concentrates on the efficient development and extraction of natural gas and crude oil offshore Sarawak and Sabah. Its operation also converts natural gas to liquid hydrocarbon products and markets the products globally. On the other hand, the downstream activity is mainly focus on manufacturing, trading, supply, distribution, and marketing with selling gasoline, aviation fuel, diesel, fuel oil, liquefied petroleum gas (LPG), bitumen, lubricants and others. Their Projects & Technology department provides some business which includes technical services, technology capability and major project delivery in both activities.
Shell Refining Co.’s main competitor in Malaysia is PETRONAS and Petron Corporation. The main way Shell stands out from his
1.0 Nature of the Shell Refining Company
Our group has selected Shell Refining Co. Bhd (F.O.M) as our assignment topic’s company. It’s a Malaysian based company located in Port Dickson which produces wide range of petroleum products, mostly consumed within Malaysia. It was incorporated in Malaysia on 19 September 1960 and was listed on KLSE on 29 October 1962. Its parent company is Royal Dutch Shell PLC. The company vision is to be the top performing and most admired refinery in Asia. Their main mission is to continue to deliver shareholder value by developing and distributing oil products and service that satisfy the needs of consumers and constantly strive for operational excellence. The company is devoted to bring excellence in business performance by focusing to meet customer’s expectation and to bring profits for their shareholders as this has been set as their main objective.
The main activity of the company is to refine and manufacture petroleum products. The company's products include gasoline, diesel, liquefied petroleum gas (LPG), propylene, jet fuel, aviation turbine fuel and sulfur. It’s divided into 2 operations which are Upstream and Downstream operations. Their Upstream International operation concentrates on the efficient development and extraction of natural gas and crude oil offshore Sarawak and Sabah. Its operation also converts natural gas to liquid hydrocarbon products and markets the products globally. On the other hand, the downstream activity is mainly focus on manufacturing, trading, supply, distribution, and marketing with selling gasoline, aviation fuel, diesel, fuel oil, liquefied petroleum gas (LPG), bitumen, lubricants and others. Their Projects & Technology department provides some business which includes technical services, technology capability and major project delivery in both activities.
Shell Refining Co.’s main competitor in Malaysia is PETRONAS and Petron Corporation. The main way Shell stands out from his