Prime Minister Datuk Seri Anwar Ibrahim said the conflict between Israel and Iran is not expected to affect the oil industry or the pricing mechanism for the commodity.
Anwar informed that this situation is indeed being closely monitored, but it does not necessarily have a negative impact on the industry or the pricing mechanism.
Commenting on the impact of the conflict, Anwar stressed that there is concern about the closure of the Strait of Hormuz, which is a major route for oil and natural gas exports from the Middle East region.
He said this after discussing with the Secretary-General of the Organization of the Petroleum Exporting Countries (OPEC), Haitham Al Ghais, and key oil industry participants on the sidelines of the Energy Asia 2025 conference held yesterday.
He also announced large-scale investments from Italy-based TotalEnergies and Eni, as well as Saudi Aramco from Saudi Arabia, reflecting confidence in Petronas' capabilities.
Furthermore, he also discussed several major investment deals in Malaysia that will be sealed during the three-day Energy Asia 2025 Conference.
The Energy Asia 2025 Conference from 16 to 18 June themed “Delivering Asia’s Energy” will be an important platform for Malaysia and the region to assess the progress of the energy transition and strengthen the commitment towards net zero carbon.
