Malaysia Oil and Gas Sector Report 2025-2026

Domestically produced natural gas, oil, and coal met 34.5%, 1.14% and 45.9% of Malaysia's energy needs, respectively, in 2024. In other words, fossil fuels accounted for 81.55% of Malaysia's energy input. At the current pace of expansion of renewable energy generation, it is expected that fossil fuels' contribution to the country's energy mix will remain largely unchanged over the upcoming ten-year period (2025-2034).According to a joint report from the Ministry of Natural Resources, Environment, and Climate Change (NRECC) of Malaysia and the International Renewable Energy Agency (IRENA), Malaysia's energy system is currently at an inflexion point in its development. The nation is confronted with the choice of either investing in its diminishing oil and gas resources or taking decisive action to unlock its renewable energy potential. The energy and gas sector in Malaysia is also at risk due to reduced reserves, in addition to the long-term threat of climate change and the short-term threat of price volatility on international markets. Petronas, the national oil and natural gas corporation of Malaysia, oversees all exploration and production operations. Petronas is the primary entity in the upstream sector, where it engages in production-sharing contracts (PSCs) with both domestic and international corporations to investigate and exploit Malaysia's oil and gas resources. ConocoPhillips, Shell, and ExxonMobil are the three largest multinational energy companies in Malaysia. They are top oil producers in the domestic market, according to estimates by Rystad Energy and information provided by the US Energy Information Administration (EIA). Petronas also dominates Malaysia's downstream sector, despite the presence of numerous other regional and international corporations.

This report provides a complete and detailed analysis of the "Energy and utilities" sector for Malaysia. EMIS Insights presents in-depth business intelligence in a standard format across countries and regions, providing a balanced mix between analysis and data.

What this report allows you to do:

• Understand the key elements at play in the "Energy and utilities" sector in Malaysia
• Crystallise the forces both driving and restraining this sector in Malaysia
• Ascertain Malaysia’s position in the global sector
• Build a complete perspective on sector trade, investment and employment
• Understand the competitive landscape and who the major players are
• View M&A activity and major deals
• Gain an understanding of the regulatory environment for the sector in Malaysia.
• Build a clear picture of trends, output and consumption for specific sub-sectors