Malaysia’s national oil and gas company Petronas will not be swayed from strengthening its core portfolio, despite “prolonged geopolitical tensions, energy supply-demand imbalances and the risk of a global slowdown” that continue to threaten the post-pandemic economic recovery.

Petronas delivered a robust performance for the first half of 2022 amid the continued volatility in the energy market and accelerated energy transition, with the improved year-on-year results mainly attributed to elevated oil and gas prices stemming from the widening supply gap and “dwindling” system capacity.