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
