Latest news with #PETRONAS
Barnama
17 hours ago
- Business
- Barnama
PETRONAS And Microsoft Expand Collaboration To Support Malaysia's AI Ecosystem
KUALA LUMPUR, 31 July (Bernama) -- PETRONAS and Microsoft signed a Memorandum of Understanding (MoU), further extending their strategic collaboration in multiple areas across innovation and sustainability to support the development of an Artificial Intelligence (AI)-enabled economy and ecosystem in Malaysia, while advancing efforts toward energy transition in Asia. At the signing ceremony held on the sidelines of Energy Asia 2025, PETRONAS was represented by its Senior Vice President of Projects, Technology & Health, Safety, Security & Environment (PT&HSSE), Ir Ts Mohd Yusri Mohamed Yusof and Vice President of Group Technology & Commercialisation, Izwan Ismail. Microsoft Malaysia was represented by its Managing Director, Laurence Si.
The Star
a day ago
- Business
- The Star
Scheduled load shedding to impact Sabah, Labuan from Aug 1-7
KOTA KINABALU: A load shedding operation will be carried out in Sabah and Labuan from Aug 1 to Aug 7 due to scheduled maintenance at the Sabah Oil and Gas Terminal (SOGT) in Kimanis, Papar. These works carried out by PETRONAS will impact over 600,000 domestic users in Sabah and Labuan, said Sabah Electricity Chief Executive Officer Datuk Mohd Yaakob Jaafar at a press conference here on Wednesday (July 30). He said maintenance works on offshore and onshore platforms would result in the gas supplies to the two Independent Power Producers (IPP) in Kimanis being disconnected. These two IPPs are the Kimanis Power plant (255MW) and SPRE power plant (100MW), he said. Yaakob said they did not foresee any power disruptions in the initial phase of discussions with PETRONAS and the Energy Commission of Sabah (ECoS) earlier this year. However, based on information received on Tuesday (July 29), it was found that the power plants were unable to operate using alternative fuel, and this resulted in the need to load the shed, he said. He said a total of 195MW of power will be lost in the Sabah grid system for this seven-day period, which explains the load shedding from Aug 1 to Aug 7. Yaakob said that if possible, he hoped PETRONAS could postpone the maintenance works at SOGT until the generation capacity stabilises, so that there would be no power supply disruptions. 'This measure is needed to ensure stability in Sabah's electricity system. If maintenance works were put on hold, then the people of Sabah will have some relief,' he said. He said the load shedding process would be inconvenient to users in Sabah and Labuan, especially during peak hours between 10am and 10pm, where each area would have no supply for an hour or two, on a rotation basis. Yaakob said Sabah Electricity would work closely with all stakeholders, especially the IPPs and ECoS, to monitor the situation while taking proactive measures to reduce power disruptions. He urged the public to get more information on the load shedding schedule, which includes time, date and area affected via the Sabah Electricity Facebook page and the Sabah Electricity application.
Sky News
3 days ago
- Business
- Sky News
Energy Asia: Government, industry urge swift energy transition
Energy Asia 2025 concluded with a resounding call for urgent, inclusive and actionable delivery of the energy transition. Held in Kuala Lumpur from 16 to 18 June, the conference drew more than 4,000 delegates from 60 countries and 38 industries to discuss how the region can balance rising energy demand with decarbonisation targets under the theme 'Delivering Asia's Energy Transition'. With over 180 speakers and more than 150 sessions, Energy Asia marked a step change in how the region approaches the energy transition - not as a future ambition, but as an immediate priority requiring delivery at scale. The second edition of Energy Asia was officially launched by the Prime Minister of Malaysia, Dato' Seri Anwar Ibrahim, and hosted by PETRONAS in partnership with CERAWeek by S&P Global. From the opening keynote to the final sessions, discussions were centred around the knotty conundrum of meeting growing energy demand while advancing the Asian energy ecosystem through decarbonisation, economic development, and social equity. Call for greater collaboration and investments Asia's energy transition is uniquely complex. Nations must expand access for growing populations while cutting emissions, making planning and investment more challenging. Collaboration is key to effectively address the energy transition, not just across conventional energy players, but also industry leaders in cleantech and renewables, power and utilities, finances and logistics, as well as policymakers and authorities. The Malaysian Prime Minister underscored that while most Southeast Asian nations have committed to net-zero targets, clean energy investment remains disproportionately low - just 2% of global spending in 2023, despite the region consuming half the world's energy. Tengku Muhammad Taufik, PETRONAS chief executive officer and Energy Asia Chairman, stressed the need for regionally specific solutions amid growing disruptions. He also called for a balance to be struck between sustainability and energy security, noting over 350 million Asians still lack reliable electricity. "The objective of Energy Asia 2025 is to address the realities of the energy transition within the context of this region," Mr Muhammad Taufik said in an interview after the conference. "The perspectives aired over the past three days have successfully highlighted the existing and emerging challenges faced and underscored the imperative to build a resilient energy system." He added that Asia stood firm in its "pragmatic and collaborative approach in shaping a just and equitable energy future for more than half of the global population." "Beyond the thought leadership that was front and centre at the conference, Energy Asia 2025 also witnessed the formation of numerous new initiatives and partnerships, that are positioned to deliver real outcomes for the region," Mr Muhammad Taufik said. Speakers also emphasised the evolving role of energy demand driven by artificial intelligence and digital infrastructure. The conference featured speakers including OPEC Secretary General Haitham Al Ghais, Saudi Aramco CEO Amin Nasser, and TotalEnergies Chairman Patrick Pouyanné. Delivering Asia's energy transition Energy Asia went beyond conversations. The conference marked the signing of 14 memoranda of understanding and several major partnership announcements between some of the world's largest energy companies. PETRONAS, Malaysia's state oil company, announced a strategic cooperation agreement with French energy giant TotalEnergies to expand upstream operations in Malaysia. The Malaysian company also signed a framework agreement with Italy's Eni to explore regional upstream joint ventures, and reached a liquefied natural gas supply deal with Commonwealth LNG to diversify exports to the United States. Other significant announcements included PETRONAS's agreement with Japan's JERA to collaborate across the gas value chain, supporting Japan's energy security objectives. PETRONAS also announced plans for an Energy Transition Academy to train workers for low-carbon industries. Focus on Carbon Capture Technology Several initiatives launched at the conference target carbon capture and storage technology. PETRONAS announced the formation of Jules Nautica, a joint venture with shipping companies MISC Berhad and Mitsui O.S.K. Lines to operate vessels that transport liquefied carbon dioxide for storage projects. The company also launched what it calls the Blue Carbon Collective, a research partnership with Mercedes-AMG PETRONAS Formula 1 Team and universities in Brazil and Malaysia to study mangrove-based carbon capture methods. EAGLe Forum Produces Sturdy Framework A landmark feature of this year's conference was the inaugural Energy Asia Global Leadership Executive Forum (EAGLe), a closed-door gathering of over 30 global CEOs and C-suite leaders from energy, finance, technology, and professional services. This high-level dialogue produced alignment on four critical areas of action: building resilient energy systems - sharing best practices for energy system resilience; improving project financing; reducing emissions whilst delivering social benefits; and accelerating technology deployment. The forum, held under Chatham House rule, marked the first time such a gathering has taken place in Asia focused specifically on energy transition challenges. Energy Park: Where innovation and collaboration converge The accompanying Energy Park exhibition attracted nearly 14,000 visitors over three days, showcasing emerging technologies from carbon capture systems to renewable energy platforms. Conference organisers said the 52 corporate sponsors and high attendance demonstrated strong industry support for collaborative approaches to energy transition. Asia accounts for more than half of global energy consumption and a similar proportion of carbon emissions. The region's approach to energy transition will significantly influence whether global climate targets can be met, according to energy analysts.
The Star
3 days ago
- Business
- The Star
110 S'wak students get PETRONAS sponsorship for tertiary studies
KUCHING: Some 110 Sarawakian students have received sponsorships totalling RM28mil from PETRONAS for their tertiary studies. The outstanding 2024 SPM school leavers from diverse backgrounds will pursue degrees in engineering, economics, law and other industry-related courses at local and overseas universities under the PETRONAS Powering Knowledge education sponsorship. State Women, Childhood and Community Wellbeing Development Minister Datuk Seri Fatimah Abdullah welcomed the national oil corporation's continuous commitment to developing Sarawakian talent. "By investing in the education and development of Sarawakian youth, PETRONAS is helping us lay the foundation for a future that is resilient, competitive and inclusive," she said at the sponsorship presentation ceremony here on Tuesday (July 29). Fatimah, who was representing Sarawak Premier Tan Sri Abang Johari Openg, said this aligned with the state government's post-Covid-19 development strategy, which aimed to position Sarawak as a high-income developed state by 2030. "At the heart of this vision is our focus on building talent and expanding opportunities across all levels of education, from early childhood to tertiary, from academic pathways to technical and vocational training. "We are determined to ensure that every Sarawakian has the opportunity to thrive and move forward," she said. Fatimah also said the education sponsorship was a platform to shape future professionals and leaders who would contribute to Sarawak's and Malaysia's progress. "What we hope to see in return is not only graduates with academic excellence, but individuals who come back with a sense of responsibility and purpose," she added. PETRONAS senior general manager (human capital expertise) Akmal Niza Ahmad said the Powering Knowledge initiative supported a wide range of programmes to empower Malaysians from all walks of life. "This is part of our commitment, reinforcing how we continue to invest in future talent for the organisation, the industry and the nation," she said. Since its inception in 1975, the PETRONAS education sponsorship has benefitted over 40,000 Malaysian students.
The Star
22-07-2025
- Business
- The Star
Tariffs, uncertainties weigh on shipping in 1H25
KUALA LUMPUR: Malaysia's shipping industry navigated cautiously in the first half of financial year 2025 (1H25), as industry players assessed market conditions and challenges, operating in a complex environment that demanded a measured and deliberate strategy. Ongoing talks between Petroliam Nasional Bhd (PETRONAS) and Petroleum Sarawak Bhd (Petros), relatively stagnant freight rates, and geopolitical tensions affecting maritime routes dominated the sector. However, it was encouraging to note that ports performed well, recording increased cargo volumes. Malaysia Shipowners' Association (Masa) chairman Mohamed Safwan Othman said while the impact of the United States reciprocal tariff rate, set to take effect on Aug 1, is minimal on industry players, the sector continues to monitor potential medium-term consequences depending on decisions made after the 90-day pause. He added that domestic activity remains slow, with close attention paid to the ongoing negotiations between PETRONAS and Petros, which had dragged on for more than two years. 'Prolonged issues have resulted in lower demand in the oil support vessel market in our domestic waters. 'However, PETRONAS and TNB Fuel Sdn Bhd have awarded long-term vessel provision and contract of affreightment contracts, respectively, this year. 'Malaysian shipowners were the majority recipients of both contracts,' he told Bernama when contacted. Mohamed Safwan said other shipping segments were broadly neutral, with freight rates remaining largely stagnant over the past six months. On geopolitical tensions affecting major maritime routes, Mohamed Safwan said apart from a few global players such as MISC Bhd , most Malaysian shipping operators are focused on the regional market, expanding east to China and west to India. 'In terms of cost, delays in key maritime routes such as the Suez Canal and the Strait of Hormuz have increased the dependence on Asean vessels operating within the region. This has led to an uptick in charter rates,' he said. He noted that South-East Asia remains relatively stable, with routing largely unaffected. However, delays are expected in the transhipment of cargo intended for Malaysian consumption. On the International Maritime Organisation (IMO) decarbonisation targets, Mohamed Safwan said Masa members are well aware of the regulations, but the shift towards decarbonisation requires significant effort and substantial funding. 'Regarding the new targets outlined in the IMO net-zero greenhouse gas emissions Strategy 2050, Masa members are currently evaluating (their) options. 'The global maritime industry continues to debate current solutions at the IMO. 'For us, Malaysian shipowners are focusing on improving efficiency within existing regulations. 'This is also because most Malaysian vessels are ageing, and any re-fleeting must consider new alternatives such as alternative fuel or dual-fuel ships,' he added. On the outlook, he said instabilities arising from geopolitical tensions had prompted industry players to capture increased demand from re-routed cargo movements. 'Key risks remain, particularly the escalating tensions between global powers closer to home, such as the rift between China and the United States, and Taiwan's position, which has heightened regional uncertainty. 'These issues affect freedom of movement and stability in South-East Asia.' Transport Minister Anthony Loke Siew Fook recently expressed hope that ongoing negotiations with the United States government, ahead of the potential imposition of a 25% tariff on Malaysia from Aug 1, would help mitigate the impact on the maritime industry and preserve its competitiveness. He said the maritime sector is currently performing well, buoyed by increased trade volumes at ports operated by MMC Corp Bhd and Westports Holdings Bhd . Maritime analyst Nazery Khalid said the sector, which facilitates the bulk of trade among Asean members and between Asean and other regions, plays a critical role. 'The goal of boosting regional connectivity and trade in South-East Asia to make it a global economic powerhouse cannot be achieved without adequate port infrastructure, efficient logistics, strong intra-and inter-regional connectivity, and robust shipping services,' he added. He also stressed the importance of a facilitative regulatory environment, investment incentives, digital and physical infrastructure, and alignment with international standards across the maritime supply chain. 'Sustainability, climate change, competition, intellectual property, consumer protection and taxation must be addressed to ensure cargo moves seamlessly, efficiently, securely and sustainably, while maintaining cost competitiveness and profitability for ports, shipping lines, logistics providers and other stakeholders,' he said.
