O&G players should depart from "business as usual" norm - Petronas

He said the "business as usual" norm leaves players little room to pursue and deliver greater technological innovation.

"The industry must continue to tap the full potential of technologies at its disposal to offer solutions to meet the world's growing demand for energy, including more progressive energy usage, reducing emissions, shrinking our carbon footprint and delivering continuous improvements in terms of our operations," he said.

Tengku Muhammad Taufik said this in his keynote address at the opening of the Oil and Gas Asia 2022, the Malaysia Oil and Gas Services Exhibition and Conference as well as the Petrochemicals Sustainability Conference, which are being held concurrently from Sept 13-15, 2022.

"Globally, we have seen companies forming collaborations to accelerate energy uptake and create an array of new revenue streams while sharing resources and investments.

"That is something we must look at as a collective group," said Tengku Muhammad Taufik.

Moving forward, he said Petronas is committed to accelerating its growth and boosting domestic investments as well as nurturing the oil and gas, services and equipment (OGSE) industry to further amplify its contributions to the nation's economy.