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Malay Mail
30-04-2025
- Business
- Malay Mail
‘Still much to achieve': Minister tells oil and gas sector to ramp up clean energy efforts
KUALA LUMPUR, April 30 — Oil and gas services and equipment (OGSE) companies are being urged to explore viable alternatives for operating their businesses or harnessing natural resources, which could help the country diversify its energy sources in line with the energy transition. Deputy Economy Minister Datuk Hanifah Hajar Taib highlighted Sarawak's progress in renewable energy — including the use of rivers for hydropower, the development of hydrogen for electric vehicles, and the exploration of algae for sustainable aviation fuel. She noted that Malaysia has made significant progress on most of the 17 Sustainable Development Goals (SDGs) — as of 2024, the country has achieved a projected 43 per cent of the 248 global SDG indicators, compared to the global average of just 17 per cent. 'Among these, under SDG 7: Affordable and Clean Energy, the country has achieved 99.7 per cent. Furthermore, we have reached a record high in renewable energy usage, at 19.7 per cent. 'This progress notwithstanding, we are conscious that there is still much to achieve in the battle against climate change,' she said in her officiating speech at the OGSE100 Chief Executive Officers (CEOs) Forum 2025 here yesterday, themed 'Driving Sustainable Energy Innovation Globally'. She emphasised that Malaysia must adapt to geographical challenges, particularly by elevating infrastructure, utilities and buildings to higher ground. 'I have come to realise that these extreme weather events are becoming the new normal, and we must now learn to adapt to these conditions to minimise the impact on lives and livelihoods. 'Is Mother Nature able to adapt and still provide our needs? 'This, I believe, is where private sector companies can step in, and in the case of OGSE being part of the energy transition, can identify and offer solutions to combat climate change, not only with profit in mind, but also for the benefit of people and the planet,' she said. Hanifah called the leaders of OGSE in Malaysia to take the lead, elevate their technical know-how, and continue driving innovation by offering cleaner and greener OGSE businesses, and even going beyond Malaysia for the sake of Mother Nature. — Bernama
The Star
29-04-2025
- Business
- The Star
OGSE industry must embrace tech, digitalisation, new energy sources
Malaysia Petroleum Resources Corporation president and chief executive officer Mohd Yazid Ja'afar KUALA LUMPUR: The oil and gas services and equipment (OGSE) industry must embrace tech adoption, digitalisation and new energy sources such as hydrogen, and carbon capture, utilisation and storage (CCUS) despite the challenges posed in the energy transition. Malaysia Petroleum Resources Corporation (MPRC) president and chief executive officer Mohd Yazid Ja'afar said global economic uncertainties, shifting international policy directions, and technological disruptions are reshaping energy markets in real-time. "These include new tariffs from the United States (US), in particular on solar products, including those from Malaysia (at 34 per cent), which are bound to affect global renewable markets. "Geopolitical conflicts continue to impact oil prices and global energy security. The recent gas leak incident at Putra Heights has also called attention to the importance of ensuring energy security in the face of energy transition and to the critical need for diverse and affordable energy sources to keep our energy supply secure,' he said in his welcoming address at the OGSE100 Chief Executive Officers (CEOs) Forum 2025 here today. Moreover, he said the emergence of a regional imbalance in the push for sustainability involving Europe and the US versus the rest of the world may impact the pace of sustainability and environmental, social and governance (ESG) adoption within the industry. The forum "Driving Sustainable Energy Innovation Globally' is organised by MPRC and is in its second annual edition. - Bernama
