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
25 March 2025
Cote d’Ivoire’s ambitions to become a major regional producer have gained renewed momentum, with established players and new entrants striking upstream deals and committing to long-term investment
24 March 2025
Indian E&P company wants to take domestic production to a new horizon, given the amount of unexplored opportunities
21 March 2025
Two recent developments raise the prospect of a revival in northern Iraqi oil and gas fortunes, but familiar obstacles could thwart momentum
20 March 2025
As cash-strapped Western governments commit to substantially raising defence expenditure, a similar dynamic is playing out in Saudi Arabia’s oil and gas sector, as Saudi Aramco maintains it heavy capex push despite reduced revenues
