Malaysia’s Petronas hastens decarbonization push, but oil business still vital


Dateline 2021-09-07, S&P Global:

Malaysia’s Petronas is intensifying efforts to invest in cleaner energy solutions and deploy innovative technologies to trim its greenhouse gas emissions as it steps outside the realm of its traditional activities to meet its sustainability targets, the state-run energy company said in its latest activity outlook report for 2021-23.

However, the integrated oil and gas company with global operations would not neglect its refining and upstream businesses over the next decade as oil markets will likely offer a wide array of sales and export opportunities in the post-pandemic era, middle distillate marketers and trading strategists at the company told S&P Global Platts.

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