Malaysian state-owned energy firm Petroliam Nasional Berhad (PETRONAS) has announced its plans to become a net-zero emitter of greenhouse gases (GHG) by the year 2050.
The company also said it will increase its investments in ‘nature-based’ solutions and cleaner energy.
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
PETRONAS Group CEO and president Tengku Muhammad Taufik said: “As the world contends with the many challenges brought about by energy transition, PETRONAS is embracing its role in providing access to affordable, secure and sustainable energy to businesses and society.
“The group is committed to fulfill its purpose in providing cleaner energy and solutions that benefit both the world we live in as well as the customers we serve through reduced emissions.”
The Malaysian firm also noted that it will strive towards increasing its efforts in reducing the Scope 1 and Scope 2 GHG emissions with respect to direct emissions from the company’s assets.
PETRONAS said in a statement: “Complementing the new aspiration, the group also launched its new brand positioning, ‘Passionate about Progress’, that demonstrates the company’s commitment to continue developing winning, progressive and sustainable solutions.”
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalDataEarlier this year, PETRONAS said it was seeking opportunities to expand its renewable energy portfolio after posting its Q1-2020 loss in nearly five years following a crash in lower oil prices as a result of the Covid-19 pandemic.
PETRONAS is said to be the world’s fourth-largest exporter of liquefied natural gas (LNG).
Last month, PETRONAS subsidiary PC Oman Ventures (PCOVL), alongside other partners, announced the start of production from the second phase of the Ghazeer natural gas field located in Oman.
In September, PETRONAS launched a liquefied natural gas virtual pipeline system via its regasification terminal in Pengerang in the Malaysian state of Johor.
