
She said the management of Petronas’s O&G production, including in Sabah, was based on technical and commercial aspects as well as long-term planning.
She added that it was not solely determined by short-term changes in the global price of oil.
“Therefore, although the global O&G industry faces a drastic decline in prices, Petronas does not plan to reduce its O&G production in Sabah.
“This takes into account the long-term need to ensure the security and sustainability of the nation’s energy supply, industry stability, and to generate revenue for the country and oil-producing states,” she said in a written parliamentary reply.
However, Azalina said the federal government and Petronas always monitored oil price developments closely, including the impact on the national O&G industry.
She was replying to Jeffrey Kitingan (GRS-Keningau), who asked if the government and Petronas plan to reduce O&G production in Sabah to conserve resources following a decline in global oil prices.