Petronas allocation
FROM the global energy transition to supply chain disruptions, the Covid-19 pandemic and now new geopolitical risks, national oil company Petroliam Nasional Bhd (Petronas) has had its hands full dealing with these challenges. Now throw in its goal of achieving net-zero emissions by 2050, coupled with its ongoing obligations to pay handsome dividends to the government plus help develop the local oil and gas (O&G) industry, and Petronas has a fine balancing act to manage.
Since it was established in 1974, Petronas has largely lived up to expectations, especially in the 1990s and 2000s, registering impressive growth for both the company and the Malaysian economy.
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