The Southeast Asia oil and gas market has been hit by the same headwinds buffeting the industry at large: weak commodity prices, a slowdown in activity offshore and in the yards, and ongoing disruption related to Covid-19.
National oil companies in the region also face challenges specific to the countries they represent and have, to varying degrees, responded by putting the brakes on development.
Malaysia is no exception, but it has maintained a higher level of activity than many of its oil and gas-producing neighbours.
Now some are wondering if new regulations and a refocusing of priorities by international operators will threaten a rebound.
In this Upstream’s special report, Amanda Battersby and Russell Searancke take a closer look at Malaysia’s offshore energy industry and its state oil giant Petronas.
New chief executive for state oil company, Tengku Muhammad Taufik Tengku Aziz, takes over amid market turmoil and regional challenges
Petronas expands renewables but bets on natural gas as a 'transition fuel'
Move comes as Petronas posts first loss in more than four years
Optimism for Malaysia's oilfield services sector as delayed projects set to get back on track
Rules intended to benefit Malaysian nationals could unintentionally damage its business-friendly reputation, says economics group
Minimum-facility wellhead platform to be replicated after successful pilot at Tembikai field
Push for upstream investments clouded by international operator exodus