Kuala lumpur: Any decisions on and review of upstream assets will be left entirely to Petroliam Nasional Bhd (Petronas) without political interference, said Prime Minister Datuk Seri Anwar Ibrahim. He emphasized the importance of maintaining a long-term perspective given the uncertainties in the global oil and gas market, highlighting Petronas’s status as a globally recognized corporate entity.

According to BERNAMA News Agency, Anwar pointed out that Petronas should consider its asset portfolio, noting that the company holds assets in various countries, including Brazil, where it manages seven upstream, three development, and four exploration blocks. Similarly, he mentioned Petronas’s strategic operations in Canada, attributed to its substantial natural gas reserves, which amount to approximately 50 trillion cubic feet. These reserves have already begun to be exported in collaboration with several other major companies.

During the Minister’s Question Time in the Dewan Rakyat, Anwar responded to a query from Datuk Muhammad Bakhtiar Wan Chik (PH-Balik Pulau) regarding the rationale behind the rationalization of Petronas’s asset portfolio and its strategy to address global market uncertainties, especially in relation to asset sales in Canada and Brazil. Anwar reiterated the importance of continuous review of upstream assets like those in Brazil and stressed that Petronas should rely on its commercial judgment and investment strategies, free from political influence, with the company only required to report to the government.