Petronas: To float or not to float?
Petronas’s financial success makes it a target for a government desperate for new revenue streams
Despite posting some impressive earnings, Malaysia's state-owned oil company Petronas could be forgiven for taking a few anxious looks over its shoulder. Four months on from the country's shock election result, which turfed out prime minister Najib Razak and returned the veteran former premier Mahathir Mohamad to power, the cash-strapped government needs to secure new revenue streams. Petronas could be primed as a sacrificial lamb, with an initial public offering of 25% of its equity a possibility. The idea emerged within weeks of the Pakatan Harapan government coming to power on a mandate to root out corruption. Ministers were reported to be mooting a float for Petronas, Malaysia's only For
Also in this section
12 December 2025
The federal government is working with Alberta to improve the country’s access to Asian markets and reduce dependence on the US, but there are challenges to their plans
12 December 2025
The latest edition of our annual Outlook publication, titled 'The shape of energy to come: Creating unique pathways and managing shifting alliances', is available now
11 December 2025
The removal of the ban on oil and gas exploration and an overhaul of the system sends all the right messages for energy security, affordability and sustainability
10 December 2025
The economic and environmental cost of the seven-year exploration ban will be felt long after its removal
