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Weaker Petronas undermines Malaysia’s geoeconomic strength, says Wan Fayshal
Free Malaysia Today
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5/1/2025
Wan Ahmad Fayhsal says the national energy company must be given robust support to drive Malaysia’s influence on the global stage.
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00:00
While the Petroleum Development Act 1974 has provided a solid foundation for generating
00:08
revenue to support national development, emerging geoeconomic challenges, including Donald Trump's
00:15
trade war, necessitate its further strengthening. This is what Machang MP Wan Ahmad Faisal Wan
00:22
Ahmad Kamal said in an exclusive interview with FMT, adding that Petronas, Malaysia's leading
00:28
geoeconomic institution, requires strong backing to sustain its pivotal role as a long-term
00:35
global player.
00:36
For me, Petronas itself is a geoeconomic institution, an important one for Malaysia. Because why?
00:42
It's the only, the sole homegrown MNC that has grown up to be transnational corporation,
00:48
has operations more than 50 countries, and one of our major important source of revenue
00:54
for our country.
00:56
Petronas operates in over 50 countries, with major oil, gas and LNG projects across
01:03
Africa, South America, Canada and the Asia-Pacific. It is the only Malaysian company on the Fortune
01:11
Global 500 list, ranked at number 167.
01:16
Whenever Petronas operates outside the country, they also open the doors for our SMEs to penetrate
01:23
into such markets. Because why? We have a national champion called Petronas that becomes
01:27
our battering ram.
01:28
Wan Faisal said the appreciation for Petronas's geoeconomic value extends beyond Malaysia to
01:35
other ASEAN countries.
01:37
As a former Petronas staff, I know when Indonesia was facing crisis, one of the helping hand was
01:43
Petronas.
01:43
Tun Mahathir, back then Tun Daim and all the cabinet members, they leveraged whatever they could
01:48
from our institutions, especially Petronas, to help purchase some foodstuff for Indonesian,
01:53
our Indonesian neighbour.
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