Pertamina’s Balikpapan refinery
Southeast Asian NOCs plot divergent transition strategies
The three most prominent NOCs in Southeast Asia will play to their individual strengths as they seek to decarbonise, with each company looking to capitalise on opportunities in their local markets
Malaysia’s Petronas, Indonesia’s Pertamina and Thailand’s PTT have been tasked by their respective governments to safeguard and monetise their nation’s hydrocarbons resources while ensuring energy security. At the same time, Indonesia, Malaysia and Thailand have all announced net-zero targets. As the largest state-owned enterprise in each country, the NOCs will play an outsize role in how their governments will reduce emissions in the coming decades. And that could result in a conflict between achieving these potentially converse strategic goals. Each company has embarked on lower-carbon pathways and outlined individual decarbonisation ambitions. Petronas targets net-zero emissions by 2050,
Also in this section
24 July 2025
The reaction to proposed sanctions on Russian oil buyers has been muted, suggesting trader fatigue with Trump’s frequent bold and erratic threats
24 July 2025
Trump energy policies and changing consumer trends to upend oil supply and demand
24 July 2025
Despite significant crude projections over the next five years, Latin America’s largest economy could be forced to start importing unless action is taken
23 July 2025
The country’s energy minister explains in an exclusive interview how the country is taking a pragmatic and far-sighted approach to energy security and why he has great confidence in its oil sector
