PETRONAS and China National Petroleum Corporation (CNPC) signed a Memorandum of Understanding (MoU) at the CNPC International Cooperation Forum, a key event at the 7th China International Import Expo (CIIE). Coinciding with the 50th anniversary of Malaysia-China diplomatic relations, this collaboration not only serves as a testament to the enduring friendship between the two nations but also represents a significant milestone as both sides join forces to propel the energy industry towards high-quality, sustainable development.
Tan Sri Tengku Muhammad Taufik, President and Group CEO of PETRONAS, and Dai Houliang, Chairman of CNPC, jointly attended and witnessed the signing ceremony. The MoU was signed by Hazli Sham Kassim, Vice President of Development of Upstream PETRONAS and He Wenyuan, General Manager of China National Oil and Gas Exploration and Development Co., Ltd (CNODC).
The MoU for strategic partnership will strengthen collaboration, among others, in the upstream exploration and production of oil and gas internationally, as well as the liquefied natural gas (LNG) value chain. The MoU will also focus on innovative ventures in cutting-edge fields such as specialty chemicals, renewable energy, green hydrogen technology, and carbon capture utilisation and storage (CCS). Additionally, the two parties aim to establish an open communication platform to facilitate the exchange of knowledge, insights, and best practices, driving energy transition and taking more substantial steps towards sustainable energy development in the region.
Over the years, PETRONAS has provided China with a stable energy supply, including liquefied natural gas, petrochemical products, crude oil, petroleum products, and lubricants. By strengthening its cooperation with Chinese energy companies, PETRONAS has supported the transformation and upgrading of China's energy sector, contributing to the nation's economic prosperity and development.
President and Group CEO of PETRONAS delivered a keynote address at the CNPC International Cooperation Forum, on the sidelines of CIIE. The CIIE aims to promote economic globalisation that is open, inclusive, balanced, and beneficial for all—principles that align closely with PETRONAS' global strategy.
Source: PETRONAS
