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2023 A Decent Year For Petronas But Outlook Less Certain

Sean Lim Ooi Leong, Head of Regional Oil & Gas, RHB Investment Bank

18-Mar-24 07:30

2023 A Decent Year For Petronas But Outlook Less Certain

Petronas, Malaysia's state-owned oil and gas reported a 20.6% Y-o-Y decline in revenue to 80.7 billion ringgit in 2023, from a record high of 101.6 billion ringgit in 2022. Reasons cited for this decline was the 20% drop in average oil prices and a shift in the energy industry towards cleaner solutions. Sean Lim Ooi Leong, Head of Regional Oil & Gas at RHB Investment Bank helps us unpack the results and what implications this has on the wider O&G sector in Malaysia.

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Produced by: Wong Shou Ning, Tun Hizami Hashim

Presented by: Wong Shou Ning, Keith Kam, Shazana Mokhtar

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Categories:  technologymarketsenvironment

Tags:  average oil pricespetronas2023oil revenueaffordable and clean energy

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