Petronas to balance RE investments and returns

You know, I have a fundamental issue when an NOC established for managing the nation’s hydrocarbon reserves uses its monopoly to enter the RE market

Dateline 2019-07-04, The Malaysian Reserve:

THE oil and gas (O&G) industry is undergoing a paradigm shift whereby consumers are not just asking for reliable and affordable, but sustainable energy as well.

This is the dilemma facing national oil companies (NOCs) like Petroliam Nasional Bhd (Petronas), who are tasked to meet the demands of a fast developing home economy and energy market, while falling in line with the global agenda to reduce carbon emissions and improve on energy mix.

The prospects for energy remain evergreen. Some 70% of the projected global population of over 9.8 billion in 2050 will be domiciled in Asia and Africa, and energy is set to play a key role in fuelling the growth and industrialisation of economies such as China, India and South-East Asia.

According to Petronas president and group CEO Tan Sri Wan Zulkiflee Wan Ariffin (picture), primary energy demand in Asia is expected to grow 2.5% per annum to reach 7.1 billion tonnes of oil equivalent in 2035.

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