Govt won't hike RON95 price amid Iran-Israel hostilities: PM
Prime Minister Anwar Ibrahim assured that the government will not raise the price of RON95 petrol, even if there is a sharp increase in global crude oil prices due to geopolitical tensions involving Iran and Israel.
He said that although the price increase benefits Petronas, the government aims to avoid burdening the people with higher fuel costs.
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Malaysia Sun
6 hours ago
- Malaysia Sun
International trade must be transparent, predictable
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The Star
7 hours ago
- The Star
PETRONAS should adapt to new energy transition demands amid economic and geopolitical uncertainties
Petroliam Nasional Bhd (PETRONAS) president and group chief executive officer (CEO) Tan Sri Tengku Muhammad Taufik Tengku Aziz speaking at Energy Asia 2025 KUALA LUMPUR: Petroliam Nasional Bhd (PETRONAS) must face new demands in the energy transition era to remain relevant amid current economic uncertainties and geopolitical tensions. Its president and group chief executive officer, Tan Sri Tengku Muhammad Taufik Tengku Aziz, said that in the short term, hydrocarbon production must be cleaner and lower in carbon intensity to reduce greenhouse gas emissions, in addition to addressing methane leaks according to standards. "Firstly, gold certification for oil and gas methane partnership (OGMP) 2.0 is a must. Secondly, we will avoid flaring or routine venting of gas, and so far, more than 20 of our assets have tackled this by practising zero routine flaring. "In the medium to long term, offerings such as carbon capture and storage (CCS) and specialty chemicals should be accelerated as soon as possible, and I believe this requires the right platform, and investments need to be made,' he told Bernama TV in an exclusive interview during the Energy Asia 2025 conference here yesterday. Tengku Muhammad Taufik highlighted that the national oil and gas company must undergo a transformation, where it is no longer optional but a necessity to prepare for a low-carbon energy system. "In the past, we were production-oriented; we produced, and people would buy. Now, we need to understand more; we will only produce what people are willing to buy. "Willing to buy in terms of capability and needs, so if it is just to supply energy in the form of liquefied natural gas (LNG) to traditional markets like Japan, perhaps now it is not enough,' he said. Tengku Muhammad Taufik said PETRONAS is focusing on high-value assets and implementing strategic portfolio optimisation, including increasing or reducing holdings to optimise capital allocation, improve returns, and strengthen focus to support sustainable growth. "Like any other energy player in the sector, optimising the portfolio is a mandatory activity and will always be practised. "If this implementation requires us to sell assets with possibly higher carbon emissions and replace them with new assets that can extend the production life from the upstream sector, we will do that,' he said. For the downstream sector, Tengku Muhammad Taufik said that if the divestment of assets causes margins to be affected, PETRONAS will replace them with assets that have more stable margins and are less exposed to uncertainties. "This is where entities like Gentari come in, profits might be less, but it is less exposed to uncertainties,' he said. Gentari is a clean energy solutions company, wholly owned by PETRONAS. - Bernama
Malay Mail
7 hours ago
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Chairman Xu Guanju Speaks at the 2025 Energy Asia Conference in Kuala Lumpur
KUALA LUMPUR, MALAYSIA - Media OutReach Newswire - 19 June 2025 - On 16 June 2025, Chairman Xu Guanju of Transfar Group was invited to speak at the 2025 Energy Asia by PETRONAS, the Energy Asia Conference was held at the Kuala Lumpur Convention Centre from 16 to 18 June. Focusing on the theme 'Delivering Asia's Energy Transition', the conference brought together policymakers, industry leaders, and energy professionals from over 60 countries, calling for bold solutions and collaboration to accelerate Asia's progress towards a net-zero conference was officiated by the Honourable Dato' Seri Anwar Ibrahim, Prime Minister of Xu Guanju delivered his speech at the forum session titled 'China's Pathway in Delivering Asia and the World's Energy Transition'. He emphasized that the basis of social progress and economic prosperity is founded upon the effective use of energy. The tides of energy and technological revolution present not only challenges, but valuable opportunities. Asia's diverse resources offer unique advantages for development. Transforming precious resources into high-value products that serve the advancement of society and human welfare not only presents a more sustainable path for development, but is also a pivotal direction for transforming one of humanity's scarcest resources: is a leading private enterprise in China, specialising in the production of downstream chemicals in the petroleum industry. Founded in 1986 following China's Reform and Opening-up, the company will celebrate 40 years of commitment to the production and development of functional chemicals and new materials. Using fossil fuels such as petroleum, silicon, and phosphorus, it produces hundreds of product lines, with nearly 20,000 products. Many are used in relatively smaller volumes, ranging from just tens to hundreds of tons every year, but they are an indispensable part of many supply chains. Transfar strives relentlessly for excellence, designing each product to have functional value and unique plays a crucial role across a wide range of industrial and supply chains. From serving light industries such as textiles, paper, plastics, and building materials, the company has expanded to support emerging sectors including photovoltaics, solar energy, new energy vehicles, high-speed rail and semiconductors. By leveraging technological innovation, Transfar has achieved exponential growth while becoming a key driver for the transition to new Xu affirmed that Chinese companies are unwaveringly dedicated to achieving their dual-carbon goals, honing their core competitive advantage in products, technology, and management through their development journey, with the ultimate goal of contributing to the development of Asia and the world. He shared three key perspectives from Transfar's practices:In the past, China grew rapidly through energy, market size, and cost advantages. Today, in addition to a large-scale market, China boasts a sizeable number of innovative enterprises, Transfar being one of them. Transfar prioritizes technological innovation, continuously tackling new technologies in functional chemicals and new materials to enhance energy and product value, and moving up the supply chain. Recent breakthroughs such as rare earth rubber, electronic chemicals, and organic silicon materials, some of which are fully independent and original innovations, have greatly enhanced the added value of the energy and chemical and low-carbon emissions are a global consensus, a national strategy, and a corporate responsibility. This is especially so in the energy and chemical industries, where a focus on energy structure, low-carbon technology, and industrial innovation, is crucial. Transfar has established integrated solar and storage systems, waste heat power generation, and closed-loop energy systems in creating zero-carbon factories and industrial parks, equipped with full-chain product carbon footprint tracking. Transfar has also pioneered green technologies such as low-temperature bleaching and chlorosilicon recycling, empowering industry-wide carbon emission reduction. At the same time, exploring biomanufacturing transformations has led to significant breakthroughs in new applications such as bio-based additives, biopesticides, and enzyme future is not a zero sum game. Sustainable development requires an open mind and cooperation, including regional strategic coordination and strong alliances between upstream and downstream enterprises. Transfar's products and services reach more than 100 countries and regions, and we have comprehensively reshaped our global innovation model, working closely with strategic partners, combining China's refined product technology capabilities with our partners to build global competitiveness. Transfar is actively promoting strategic cooperation with PETRONAS in areas such as rubber materials, organic silicon materials, developing the chemicals and materials industries with the common pursuit of zero-carbon goals and Xu Guanju also participated in the Energy Asia Global Leadership Executive Forum, gathering global CEOs and executives from the oil and gas, energy and related sectors for closed-door discussions on building a more resilient and sustainable energy #TransfarGroup The issuer is solely responsible for the content of this announcement.
