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Profitability remains a prerequisite for a credible energy transition—Repsol
Insisting that profitability must be maintained as energy companies transition from fossil fuels to clean fuels has enabled Repsol to ratchet up its climate neutrality ambitions, making the company an industry leader.
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Outlook 2023: Financing oil and gas in the energy transition
The energy transition creates an enormous opportunity for oilfield services because of the critical role oil and gas still needs to play and because of the sector’s ability to act as lead innovator
Adnoc and Petronas sign exploration deal
The Middle Eastern NOC is tapping Malaysian expertise to help it develop an unconventional resource
Outlook 2023: Building the path to a just energy transition
With the right policies, security of supply should not be an opposing force to decarbonisation
Outlook 2023: Balancing the social and environmental impacts of the energy transition
The current supply crunch has brought concerns of a mismanaged energy transition to the fore for both the developing world and Western nations
No investor punishment for TotalEnergies loosening the purse strings
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Letter from South Africa: States and industry eye opportunities
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The Spanish firm has form for leading where other firms swiftly follow
Petronas plans to be carbon neutral by 2050
Petronas Energy transition
Simon Ferrie
6 October 2021
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Petronas backs faster exploration

The Malaysian NOC will continue with oil and gas exploration despite the energy transition, says CEO Tengku Muhammad Taufik

“We will still explore,” Petronas CEO Tengku Muhammad Taufik told the Energy Intelligence Forum 2021. But the needs of the energy transition—including the NOC’s own pledge to be carbon neutral by 2050—means upstream projects will “have to reach maturation faster... and can be monetised early”. As an explorer, Petronas has to be “more efficient, more cost-effective, cleaner and faster,” Taufik says. Despite the strength of the crude market, Petronas is still applying a “$40/bl test” to assess the viability of potential projects, although Taufik says the company is now looking at $55-60/bl “in the near term”. The Petronas CEO also gave a vigorous defence of gas as a transition fuel, emphasisin

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