PM Anwar: Oil industry steady despite Strait of Hormuz concerns amid Middle East tensions
KUALA LUMPUR, June 16 — The Israel-Iran conflict will not necessarily hurt the oil industry or price mechanisms of the commodity, said Prime Minister Datuk Seri Anwar Ibrahim.
He made the statement after holding discussions with the Secretary-General of the Organisation of the Petroleum Exporting Countries (OPEC), Haitham Al Ghais, and major oil industry players on the sidelines of the Energy Asia 2025 conference today.
'Of course, they are monitoring the situation closely, but it does not necessarily hurt the industry or price mechanisms (of the commodity). We hope the conflict can be resolved much earlier,' he said.
When asked about the impact of the conflict on the energy industry, Anwar stated that there are concerns about the potential closure of the Strait of Hormuz, a vital route for the export of oil and liquefied natural gas, as well as a key trade route for the Middle East region.
At the same time, Anwar also announced major investments by Total, Italy-based ENI, and Saudi Aramco, which he said reflected confidence in Petronas' capabilities.
'Several key agreements related to investments in Malaysia will be signed at the Energy Asia 2025 Conference, which will be held over three days,' he added.
Also taking place at Energy Asia is a closed-door session involving global chief executive officers and top-level leaders from key sectors such as oil and gas, energy, technology, finance, and professional services.
This aims to chart a collective path to stimulate investment, enhance coordination, and accelerate the adoption of technology to drive Asia's energy transition.
The Energy Asia 2025 Conference, themed 'Delivering Asia's Energy,' and being held from June 16–18, serves as a timely platform for Malaysia and the region to assess progress toward energy transition goals and reinforce national commitments toward achieving net-zero carbon emissions.
The event is also seen as highly relevant amid the intersection of economic diversification and sustainable development, as countries shift from oil to renewable energy (RE) and adopt new technologies such as hydrogen and carbon capture.
Earlier, Anwar delivered the keynote address and officiated the event, which will feature 180 prominent speakers from around the world and attract more than 4,000 delegates, including policymakers, energy professionals, and industry leaders.
Among the main agenda items of the conference are a plenary session titled 'Energy Present, Energy Future: Pathways for Asia's Just Transition,' followed by a leadership dialogue —'Energy at the Crossroads: Policies, Technologies and Investments.' — Bernama
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
The Sun
41 minutes ago
- The Sun
Petronas, TotalEnergies ink deals to expand upstream partnerships
KUALA LUMPUR: Petroliam Nasional Bhd (Petronas) and TotalEnergies SE have signed a strategic cooperation agreement (SCA) and two farm-out agreements (FOAs) to expand their upstream collaboration in Malaysia. The two companies are also advancing their international partnership under the Bobara Production Sharing Contract (PSC) in Indonesia. In a statement today, it said the SCA outlined the potential opportunities both internationally and domestically in strategic areas that cover exploration and production, gas and liquefied natural gas (LNG), carbon footprint reduction and cooperation. 'For Malaysia, Petronas, through its unit, Petronas Carigali Sdn Bhd, and TotalEnergies EP Malaysia will jointly explore several offshore exploration blocks across the country's most prospective hydrocarbon basins. 'Meanwhile, in Indonesia, the group's unit, Petronas Energy Bobara Sdn Bhd and TotalEnergies have successfully finalised the terms of an FOA for the Bobara PSC to unlock a new hydrocarbon resource in Bobara, a frontier ultra-deepwater block located in the Eastern Indonesia region,' it said. The signing ceremony was attended by senior leadership from both organisations, including Petronas president and group chief executive officer (CEO) Tan Sri Tengku Muhammad Taufik Tengku Aziz and its executive vice president and upstream CEO Mohd Jukris Abdul Wahab. TotalEnergies was represented by its chairman and CEO Patrick Pouyanné, and its exploration and production president Nicolas Terraz. Tengku Muhammad Taufik said the signing ceremony marked another significant step forward in the parties' shared commitment to responsible growth and long-term value creation. 'Together, we will pursue and develop advantaged barrels across Malaysia's and Indonesia's frontier exploration blocks. 'Our focus is on maximising high commercial potential while delivering sustainable value for all stakeholders,' he said. Meanwhile, Pouyanné said the strategic collaboration with Petronas, which extends well beyond Malaysia through their multiple joint ventures worldwide, enables the parties to access a large and diverse portfolio in the country, spanning from exploration to production.
Malay Mail
an hour ago
- Malay Mail
Beyond a loyalty program: Octa broker upgrades its rewards program
gain one of four statuses, each with its own set of privileges accumulate experience points to level up their status enjoy better trading conditions, including lower spreads, as one of the higher status benefits exchange prize lots for gifts, including electronic gadgets, premium accessories, subscriptions, and gift cards participate in challenges by completing the time-limited tasks and receiving special rewards. Disclaimer: This content is for general informational purposes only and does not constitute investment advice, a recommendation, or an offer to engage in any investment activity. It does not take into account your investment objectives, financial situation, or individual needs. Any action you take based on this content is at your sole discretion and risk. Octa and its affiliates accept no liability for any losses or consequences resulting from reliance on this material. Trading involves risks and may not be suitable for all investors. Use your expertise wisely and evaluate all associated risks before making an investment decision. Past performance is not a reliable indicator of future results. Availability of products and services may vary by jurisdiction. Please ensure compliance with your local laws before accessing them. KUALA LUMPUR, MALAYSIA - Media OutReach Newswire - 17 June 2025 - Octa, a globally recognised broker since 2011, will release its new status program for all regions in the third quarter of 2025. The broker built a new flexible framework to reward its clients for loyalty and trading activity, offering a wide range of bonuses, benefits, and gifts while introducing new mechanics and a clear-cut, systematic approach to client loyalty strives to push the industry benchmarks in terms of creating additional value for clients. With that in mind, the broker deploys a new iteration of its old-and-tested rewards program across all regions. By developing a high-incentive status program within its trading ecosystem, Octa aims to double down on providing favourable conditions for its most active and long-standing multifaceted rewards program will be regularly updated to offer the broker's clients new challenges, prizes, and opportunities. It will grant advanced privileges to the most dedicated traders while maintaining appealing incentives for emerging its current, full-fledged form, the program includes the status-based benefits system, the Trade and Win gift collection, and a selection of trading-focused challenges for engaged and passionate clients who look to expand their trading one of four statuses—Bronze, Silver, Gold, or Platinum—to each client, Octa's reward system focuses explicitly on fairness and transparency, with a clear and simple threshold requirement for each status. Statuses are automatically upgraded once the client's trading activity reaches a required trading more lots and gaining more experience points, Octa's clients climb the status ladder, receiving additional benefits with each earned status. The benefits include access to gifts, lifestyle services, or trading bonuses. Trading conditions also become exponentially more advantageous as a client's status grows. At the top of the status ladder, the platinum privilege package includes premium support, priority perks, and monthly all Octa clients, each traded lot automatically becomes a prize lot, which can be used as internal currency and exchanged for various prizes from the extensive Octa Trade and Win collection. The status system plays into this, too, as higher status clients receive a wider array of gift options. With Trade and Win, Octa's clients can derive additional value from their trading and get even more incentives to achieve better trading challenges within Octa's rewards framework cater to goal-driven traders seeking to maximise the competitive aspect of their trading journey. By participating in various time-limited challenges, Octa's clients get a chance to win money prizes, prize lots, exclusive gifts, and advantageous trading conditions. Octa's challenges motivate traders to boost their skills and challenge their expertise in new sum up, the new Octa Rewards program leaves no effort unnoticed by offering traders a wide range of advantages. Through this program, Octa's clients can do the following:___Hashtag: #Octa The issuer is solely responsible for the content of this announcement. Octa Octa is an international CFD broker that has been providing online trading services worldwide since 2011. It offers commission-free access to financial markets and various services used by clients from 180 countries who have opened more than 52 million trading accounts. To help its clients reach their investment goals, Octa offers free educational webinars, articles, and analytical tools. The company is involved in a comprehensive network of charitable and humanitarian initiatives, including improving educational infrastructure and funding short-notice relief projects to support local communities. In Southeast Asia, Octa received the 'Best Trading Platform Malaysia 2024' and the 'Most Reliable Broker Asia 2023' awards from Brands and Business Magazine and International Global Forex Awards, respectively.
Malay Mail
an hour ago
- Malay Mail
Octa broker announces a free coding bootcamp in Malaysia
minimum age of 16 Octa client or has an adult relative who is a client personal laptop to do homework level of English sufficient to follow the study program readiness to follow the bootcamp timeline students are responsible for their own transport to and from campus (located near the 'Cochrane' MRT station). Disclaimer: This content is for general informational purposes only and does not constitute investment advice, a recommendation, or an offer to engage in any investment activity. It does not take into account your investment objectives, financial situation, or individual needs. Any action you take based on this content is at your sole discretion and risk. Octa and its affiliates accept no liability for any losses or consequences resulting from reliance on this material. Trading involves risks and may not be suitable for all investors. Use your expertise wisely and evaluate all associated risks before making an investment decision. Past performance is not a reliable indicator of future results. Availability of products and services may vary by jurisdiction. Please ensure compliance with your local laws before accessing them. KUALA LUMPUR, MALAYSIA - Media OutReach Newswire - 16 June 2025 - This summer, Octa, a trusted global broker since 2011, will partner with a Malaysian charity, Ideas International, to conduct a free coding bootcamp in Kuala Lumpur. The event will take place on campus between June and August 2025. It will offer individuals who have no coding background but are passionate about tech a unique opportunity to kick off their careers in year, the STATUS 200 coding bootcamp became a career springboard for goal-driven Malaysian students, allowing them to start their journeys in coding from scratch. This year, Octa broker and Ideas International team up again to build on last year's success and organise another free bootcamp in Kuala 2025 Octa and Ideas International bootcamp will be conducted between June and August on-site in two stages. Applications for the first stage are already underway and available for aspiring programmers. Applications can be submitted till 26 June. The entryare pretty simple:For those willing to participate but not registered with Octa, the registration is very intuitive and only takes a minute. Potential candidates will be eligible to apply to the coding bootcamp immediately after registering with bootcamp's agenda includes several weeks of learning, featuring in-person sessions with professional educators in basic computer skills, HTML, and CSS at Stage 1 and JS, Node, React, SQL, and MySQL at Stage 2. All stages of the bootcamp will be held exclusively on-site, at the academy's facility in Kuala long-standing charity partner, Ideas International, is a holistic school that empowers students to become contributing citizens who can succeed in an ever-changing world. Among other projects, the school carries out joint initiatives with the United Nations High Commissioner for Refugees (UNHCR) to safeguard the rights and well-being of their joint educational charity projects, Octa and Ideas International aim to unlock human potential in the next generation through technology, human, and life skills.___ The issuer is solely responsible for the content of this announcement. Octa Octa is an international CFD broker that has been providing online trading services worldwide since 2011. It offers commission-free access to financial markets and various services used by clients from 180 countries who have opened more than 52 million trading accounts. To help its clients reach their investment goals, Octa offers free educational webinars, articles, and analytical tools. The company is involved in a comprehensive network of charitable and humanitarian initiatives, including improving educational infrastructure and funding short-notice relief projects to support local communities. In Southeast Asia, Octa received the 'Best Trading Platform Malaysia 2024' and the 'Most Reliable Broker Asia 2023' awards from Brands and Business Magazine and International Global Forex Awards, respectively.
