Petronas collaborates with regulators to stabilize local energy stocks while ramping up efforts to boost crude oil production.

Petronas collaborates with regulators to stabilize local energy stocks while ramping up efforts to boost crude oil production.

KUALA LUMPUR, April 2 — Petroliam Nasional Bhd (Petronas) is coordinating with regulators to safeguard local energy stocks while intensifying its drive to boost crude oil output.

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Local

KUALA LUMPUR, April 2 — Petroliam Nasional Bhd (Petronas) is coordinating with regulators to safeguard local energy stocks while intensifying its drive to boost crude oil output.

Mohd Nazlee Rasol, vice president of upstream development, emphasized that as Malaysia's national oil firm, Petronas is prioritizing supply stability through continuous efforts to identify rapid production increases.

Speaking at the Offshore Technology Conference Asia (OTC Asia) during a session titled “Accelerating Development for Energy Security: Fast-Tracking Field Strategies in a Volatile World,” Mohd Nazlee noted that the company is exploring new technologies and initiatives with service providers like Weatherford to enhance oil and gas yields. He further revealed that a dedicated task force has been established to evaluate production-boosting measures, which will help maintain a steady supply to the company's refineries.

“Regarding gas, particularly in Sarawak where we have significant reserves, we are monitoring how geopolitical shifts in West Asia might impact our portfolios. We are collaborating closely with the authorities to strengthen supply security and ensure Malaysia remains unaffected by external volatility,” he added. — Bernama

Petroliam Nasional Bhd (Petronas) is coordinating with regulators to safeguard local energy supplies while intensifying its push to increase crude oil output. — Picture by Choo Choy May

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