Tan Sri Wan Zulkiflee Wan Ariffin
KUALA LUMPUR, July 10 (BERNAMA) -- Petroliam Nasional Bhd (Petronas) has taken steps to explore new growth areas beyond the conventional oil and gas, says president and Group CEO Tan Sri Wan Zulkiflee Wan Ariffin.
Wan Zulkiflee said against the backdrop of demand for more sustainable energy sources, Petronas is considering viable investments in renewable energy namely solar, wind and biomass on a commercial scale.
“To cater to the growing energy demand, the company has embarked on numerous energy investments anchored to its three-pronged strategy to develop an energy mix that effectively balances the Energy Trilemma of security, affordability and sustainability of energy supply," he said at the World Economic Forum’s roundtable discussion on Malaysia’s energy landscape today.
These new ventures would support the Ministry of Energy, Science, Technology, Environment and Climate Change’s (MESTECC) initiatives to reduce carbon emissions intensity of GDP by 45 per cent by 2030 and achieve a low-carbon economy status by 2050.
He said the ambitious carbon neutrality goal can only materialise with extensive changes in Malaysia's energy sector guided by strong and forward-looking energy policies.
Hence, government support and intervention in developing and implementing regulations for the ecosystem that take into consideration all key influencing factors are pivotal for businesses not only to survive but thrive as the energy landscape continues its monumental shift.
He added that oil and gas will remain as the group’s core businesses, especially in the primary energy mix.
The company has allocated RM30 billion for its upstream activities in 2019 with half slated for domestic investments to ensure there will be no disruptions to energy supply.
IPOH, May 28 -- The Ministry of Energy and Natural Resources (KeTSA) via the Energy Commission (EC) will open a competitive bidding process for Large Scale Solar (LSS) programme by Malaysia Electricity Industry to Attract Renewable Energy Investment (LSS@MenTARI) starting May 31, 2020.
KUALA LUMPUR, May 28 -- Toshiba Electronic Devices & Storage Corporation (Toshiba) has launched a high-voltage intelligent power device (IPD) housed in a small surface mount package.
MOSCOW, May 27 -- The world’s investment in the energy sector is projected to plummet by a record-high 20 percent year-on-year in 2020 as a consequence of the energy crisis and the COVID-19 pandemic outbreak, Sputnik news agency quoted the International Energy Agency (IEA) as saying on Wednesday.
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