August 7, 2019
Dateline 2019-06-25, Forbes:
It was in 2003 that Malaysian Prime Minister Mahathir Bin Mohamad addressed the eighth edition of the Asia Oil & Gas Conference. Now 16 years later, he was back in front of the oil and gas luminaries at the 20th Asia Oil & Gas Conference (AOGC) that took place in Kuala Lumpur from June 23rd to 25th. “Last time I was here it was at a period when the world witnessed geopolitical uncertainties in the Middle East and the impact of the outbreak of SARS in Asia,” he told the assembled delegates. “Brent crude oil price then was at an average of $28 per barrel.”
The effects of the war for oil
Since the time that Mahathir last opened the conference, the oil price has been on a rollercoaster ride reaching heights of $145 in 2008 and $125 four years later. But it has not all been peaks, with the price slumping to $32 per barrel within six months of its all-time high in 2008, with further troughs experienced in 2014 and 2016.
July 19, 2019
Dateline 2019-06-21, NST:
Oil and gas majors are transitioning into new energy portfolios and partnerships as pressure mounts for business growth and environmental sustainability.
In an interview with The New Straits Times, Petroliam Nasional Bhd (Petronas) vice president of refining and trading Mohd Yusri Mohamed Yusof said that the global energy landscape is going through structural changes – and trends are emerging with new business and partnership models, as risks, and returns are being weighed out.
“It is a transition – from what was categorically upstream, and downstream businesses monetising hydrocarbons, to now, the inclusion of other energy supply sources in the mix,” said Yusri who is also the chairman of the Asia Oil and Gas Conference (AOGC) 2019 organising committee.
July 5, 2013
Dateline 2013-06-09, Platts:
Malaysia has set itself a key strategic objective of becoming a regional energy hub, Prime Minister Najib Razak said Monday.
Speaking at the opening ceremony of the 17th Asia Oil and Gas Conference in Kuala Lumpur, Najib said the energy sector plays a pivotal role in the Malaysian economy with oil and gas contributing to more than 40% of the country’s national income.
Najib said that Malaysia has halted a decline in its domestic production with 24 new discoveries made in 2012 alone. Malaysia produced 1.69 million b/d of oil equivalent in the first quarter of 2013, up 3% from 1.64 million boe/d in Q1 2012.