Petronas on an upward trajectory
The company is balancing its upstream ambitions with government debt obligations, while finalising a key domestic downstream project
The Malaysian government is once again turning to state-owned energy company Petronas to help fill its coffers, almost a year since the Perakan Herapan coalition returned veteran Mahathir Mohamad to the prime minister's office. This year the government is targeting a special dividend of MYR30bn ($7.5bn) to help settle excess tax refunds inherited from the previous administration, as well as a regular MYR24bn dividend. In total, proceeds from oil and gas activities are expected to comprise 30.9pc of government revenue in 2019, and 17.1pc of gross domestic product. The prospect of increasing its royalty payments to Sarawak and Sabah, the country's eastern states, also hangs over Petronas. Duri
Also in this section
20 June 2025
The scale of energy demand growth by 2030 and beyond asks huge questions of gas supply especially in the US
20 June 2025
The Emirati company is ramping up its overseas expansion programme, taking it into new geographic areas that challenge long-held assumptions about Gulf NOCs
19 June 2025
Geopolitical uncertainty casts a pall over expectations around demand, supply, investment and spare capacity
19 June 2025
Shifting demand patterns leaves most populous nation primed to become downstream leader as China and the West retreat
