KUALA LUMPUR: Prime Minister Datuk Seri Anwar Ibrahim stated that Petroliam Nasional Bhd (Petronas) will independently handle all decisions and reviews of upstream assets without political intervention.
He emphasised Petronas’s reputation as a globally recognised corporate entity, requiring long-term strategic planning amid volatile oil and gas market conditions.
“Petronas must evaluate its asset portfolio, including operations in countries like Brazil, where it holds seven upstream, three development, and four exploration blocks,“ he said.
Anwar highlighted Canada as another strategic market due to its vast natural gas reserves, estimated at 50 trillion cubic feet, now being exported alongside major industry players.
He addressed these points during the Minister’s Question Time in the Dewan Rakyat, responding to queries from Datuk Muhammad Bakhtiar Wan Chik (PH-Balik Pulau).
The question centred on Petronas’s asset rationalisation strategy and its approach to global market uncertainties, including asset sales in Canada and Brazil.
Anwar stressed the need for continuous reviews of upstream assets, particularly in high-potential regions like Brazil.
“The government trusts Petronas to make commercial and investment decisions based on expertise, free from political influence,“ he added.
Petronas reports to the government but operates with full autonomy in managing its assets. - Bernama
