Petronas: To float or not to float?
Petronas’s financial success makes it a target for a government desperate for new revenue streams
Despite posting some impressive earnings, Malaysia's state-owned oil company Petronas could be forgiven for taking a few anxious looks over its shoulder. Four months on from the country's shock election result, which turfed out prime minister Najib Razak and returned the veteran former premier Mahathir Mohamad to power, the cash-strapped government needs to secure new revenue streams. Petronas could be primed as a sacrificial lamb, with an initial public offering of 25% of its equity a possibility. The idea emerged within weeks of the Pakatan Harapan government coming to power on a mandate to root out corruption. Ministers were reported to be mooting a float for Petronas, Malaysia's only For
Also in this section
13 May 2025
A fall in Venezuelan output drives overall production lower, as Saudi Arabia starts to slowly bring more crude to the market
12 May 2025
With the gas industry’s staunchest advocates and opponents taking brutal blows, the sector looks like treading a path of insipid indifference
7 May 2025
From China blocking US LNG to Trump demanding that various countries import more of the fuel, the politicisation of LNG is on the rise
