Renewable energy projects to pick up steam

“In our evaluation, our top ESG scorers of four stars are Yinson, Petronas Gas Bhd, Petronas Chemicals Group Bhd, MISC Bhd and Hibiscus Petroleum Bhd,” AmInvestment Bank said.

PETALING JAYA: Oil and gas (O&G) companies across the globe have been under increasing pressure from governments, regulatory authorities, activist shareholders and the general public to shift towards a decarbonised future.

The sharp plunge in crude oil prices in April last year due to the price war between Saudi Arabia and Russia as well as the subsequent Covid-19-induced demand collapse has accelerated the upstream industry’s transition towards lower-carbon business strategies.