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
9 March 2026
Petroleum Economist analysis sees increases in output from Saudi Arabia, Venezuela and Kazakhstan among others before region’s murky descent
9 March 2026
Energy sanctions are becoming an increasingly prominent tool of US foreign policy, with the country’s growth in oil and gas production allowing it to impose pressure on rivals without jeopardising its own energy security or that of its allies, argues Matthew McManus, a visiting fellow at the National Center for Energy Analytics
6 March 2026
The March 2026 issue of Petroleum Economist is out now!
6 March 2026
After Europe’s rapid buildout of floating LNG import capacity, Exmar CEO Carl-Antoine Saverys says future growth in floating gas infrastructure will increasingly be driven by developing markets as lower prices, rising energy demand and the need to replace coal unlock new opportunities for unconventional and tailor-made solutions
