Latest news with #PetroliamNasionalBhd


New Straits Times
14-07-2025
- Business
- New Straits Times
Petronas, Baker Hughes partner on Asia energy growth, transition
KUALA LUMPUR: Petroliam Nasional Bhd (Petronas) and Nasdaq-listed energy technology firm Baker Hughes have signed a memorandum of understanding to jointly explore business opportunities aimed at advancing Asia's energy expansion and transition goals. Under the agreement, both companies will work together to enhance liquefied natural gas services and cross-border talent development, strengthening local operational capabilities across the region. They will also explore digital and artificial intelligence-driven energy solutions, promote sustainable technologies in carbon capture, utilisation and storage, and together expand the use of biofuels and lubricants in the turbomachinery supply chain. Petronas senior vice president of projects, technology and health, safety, security and environment Mohd Yusri Mohamed Yusof said the expanded partnership would enable both companies to accelerate decarbonisation and innovation in energy delivery. "Our extended strategic partnership with Baker Hughes is poised to drive excellence in project delivery, decarbonisation, supply chain resilience, and technology adoption. "It signifies what is possible when two industry leaders unite to foster innovation ecosystems and shape the future of energy. Furthermore, the setting up of an enhanced aeroderivative facility here is a positive development towards the region's cleaner energy pursuit," he said in a statement today. Baker Hughes chairman and chief executive officer Lorenzo Simonelli said this collaboration is an important step to grow alongside customers in Asia-Pacific and also a localisation effort in developing reliable, secure and lower-carbon energy. As a first step, the firm plans to expand its gas technology services facility in Malaysia to include a full aeroderivative gas turbine module repair service, covering disassembly, assembly, grinding, and testing capabilities, which will support over 600 installed gas turbines in the region. Baker Hughes currently operates two turbomachinery facilities in Port Klang and a Kuala Lumpur-based iCenter that provides diagnostics for turbomachinery equipment. The company is assessing the best location for its new expanded gas turbine services footprint in Malaysia.


New Straits Times
12-07-2025
- Business
- New Straits Times
Kenyir green energy projects poised to attract global investment
KUALA BERANG: The newly launched Hybrid Hydro Floating Solar (HHFS) and Green Hydrogen Hub projects in Terengganu have the potential to attract regional and international investors, Prime Minister Datuk Seri Anwar Ibrahim said. He said the new alternative energy initiative, a clean and green collaboration between Petroliam Nasional Bhd (Petronas) and Tenaga Nasional Bhd (TNB), is aligned with both Malaysia's energy policy and international aspirations for green energy. "Kenyir is now becoming a focal point of interest for international investors. This is not just a boost for Terengganu, but Kenyir itself will become a major attraction. The project has also been implemented efficiently and swiftly," he said at the launch ceremony of the ventures at the Sultan Mahmud Power Station in Kenyir today. Also present were Deputy Energy Transition and Water Transformation Minister Akmal Nasrullah Mohd Nasir; Terengganu Menteri Besar Datuk Seri Dr Ahmad Samsuri Mokhtar; TNB chairman Tan Sri Abdul Razak Abdul Majid and Petronas chairman Tan Sri Mohd Bakke Salleh. The HHFS and Green Hydrogen Hub aim to position Malaysia as a regional leader in the green hydrogen value chain, while supporting the National Energy Transition Roadmap (NETR) and the Hydrogen Economy and Technology Roadmap (HETR).


The Sun
08-07-2025
- Business
- The Sun
Petronas ships its first cargo from LNG Canada facility
KUALA LUMPUR: Petroliam Nasional Bhd (Petronas) has shipped the first liquefied natural gas (LNG) cargo from its newly operational LNG Canada facility in Kitimat, British Columbia, Canada. The company said the shipment departed for Japan on Monday aboard the 174,000-cubic-metre Puteri Sejinjang LNG vessel, marking a significant milestone for Petronas' investment in Canada. 'This milestone reinforces Petronas' position as a reliable LNG supplier, with LNG Canada serving as a strategic addition to its growing global network of supply nodes. 'The innovations enable the facility to operate with a greenhouse gas (GHG) intensity that is approximately 35% lower than the existing best-performing LNG plants around the world, and 60% below the global average, underscoring its steadfast pledge to supplying lower carbon, responsibly sourced LNG,' it said in a statement. Petronas executive vice president and CEO of gas and maritime business, Datuk Adif Zulkifli, said the first cargo 'sail away' is the culmination of years of perseverance to realise our vision for Canadian LNG exports to the Asia Pacific region. 'We are privileged to commemorate this moment with LNG Canada, our other joint venture partners, the Haisla Nation, Kitimat community, and Canadians at large. Petronas is honoured to be a part of this first-of-its-kind project in Canada,' he added. LNG Canada features energy-efficient gas turbines, advanced methane-leak detection and mitigation systems, and power sourced from the BC Hydro grid, predominantly powered by hydroelectric and renewable energy. Petronas said with a 25% equity holding in the project, through its wholly owned entity North Montney LNG Limited Partnership, LNG Canada is a critical component of Petronas' global LNG strategy to diversify its supply portfolio and increase market flexibility. – Bernama


New Straits Times
08-07-2025
- Business
- New Straits Times
Khazanah eyes AI deals with French, Italian sovereign funds
KUALA LUMPUR: Khazanah Nasional Bhd has held a series of productive meetings with the French and Italian sovereign wealth funds to explore cross-border collaboration, particularly in the field of artificial intelligence (AI). Managing director Datuk Amirul Feisal Wan Zahir said the discussions focused on how Malaysian, French and Italian companies could work together amid shifting global geopolitical dynamics. "We looked at how we can collaborate (with them) when it comes to technology innovation, and even some of the mid-tier companies that they have and that we have, and see how we can collaborate further. "We realised that we were facing the same issues: how do we look at being globally competitive using artificial intelligence and innovation, and how can we find new markets," he told reporters in Brazil at the conclusion of Prime Minister Datuk Seri Anwar Ibrahim's official visits to Italy, France and Brazil. Khazanah was part of the Malaysian delegation on the official visits, which began on July 1 and were aimed at strengthening bilateral relations and boosting trade and economic cooperation. Other major Malaysian participants included Petroliam Nasional Bhd, Tenaga Nasional Bhd, Malayan Banking Bhd, FGV Holdings Bhd and YTL Power International Bhd. Amirul Feisal said Khazanah has partnered with Cassa Depositi e Prestiti, Italy's national promotional institution, for two years, and with Bpifrance, also known as Banque Publique d'Investissement, for three years. The visits to Rome, Paris and Rio de Janeiro were also part of efforts to reinforce diplomatic and commercial ties with key economic partners. Collectively, bilateral trade with Italy, France and Brazil amounted to RM50.91 billion (US$11.14 billion) last year. Khazanah posted its highest-ever annual return in 2024, achieving a net asset value (NAV) time-weighted rate of return (TWRR) of 24.6 per cent, a sharp increase from 5.7 per cent the year before. Its total portfolio, or realisable asset value (RAV), rose to RM151.3 billion, while operating profit reached RM5.1 billion.


The Star
08-07-2025
- Business
- The Star
Khazanah eyes AI deals with French, Italian sovereign funds
Khazanah managing director Datuk Amirul Feisal Wan Zahir KUALA LUMPUR: Khazanah Nasional Bhd has held a series of productive meetings with the French and Italian sovereign wealth funds to explore cross-border collaboration, particularly in the field of artificial intelligence (AI). Managing director Datuk Amirul Feisal Wan Zahir said the discussions focused on how Malaysian, French and Italian companies could work together amid shifting global geopolitical dynamics. "We looked at how we can collaborate (with them) when it comes to technology innovation, and even some of the mid-tier companies that they have and that we have, and see how we can collaborate further. "We realised that we were facing the same issues: how do we look at being globally competitive using artificial intelligence and innovation, and how can we find new markets,' he told reporters in Brazil at the conclusion of Prime Minister Datuk Seri Anwar Ibrahim's official visits to Italy, France and Brazil. Khazanah was part of the Malaysian delegation on the official visits, which began on July 1 and were aimed at strengthening bilateral relations and boosting trade and economic cooperation. Other major Malaysian participants included Petroliam Nasional Bhd, Tenaga Nasional Bhd , Malayan Banking Bhd , FGV Holdings Bhd and YTL Power International Bhd . Amirul Feisal said Khazanah has partnered with Cassa Depositi e Prestiti, Italy's national promotional institution, for two years, and with Bpifrance, also known as Banque Publique d'Investissement, for three years. The visits to Rome, Paris and Rio de Janeiro were also part of efforts to reinforce diplomatic and commercial ties with key economic partners. Collectively, bilateral trade with Italy, France and Brazil amounted to RM50.91 billion (US$11.14 billion) last year. Khazanah posted its highest-ever annual return in 2024, achieving a net asset value (NAV) time-weighted rate of return (TWRR) of 24.6 per cent, a sharp increase from 5.7 per cent the year before. Its total portfolio, or realisable asset value (RAV), rose to RM151.3 billion, while operating profit reached RM5.1 billion. - Bernama