Progress Energy Inc changes name to Petronas Energy Canada

first_imgCALGARY, A.B. – Progress Energy has announced they have changed the company name to Petronas Energy Canada as of November 22.Petronas, a Malaysian based company, entered Canada as part of a joint venture with Progress Energy in 2010, and Progress Energy became a subsidiary of Petronas in 2012.Mark Fitzgerald, President and CEO of Petronas Energy Canada, says the name change reflects the commitment the parent company has to Canada. “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. As part of such a progressive global entity for the past six years, we are extremely proud to be PETRONAS in name as well.”According to the company, with one of the largest natural gas resources in North Montney, northeast B.C., Petronas Canada says they are 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.last_img