PRIME MINISTER Datuk Seri Anwar Ibrahim has said that despite ongoing geopolitical tensions in the Middle East, particularly between Israel and Iran, the global oil industry remains stable and unaffected in terms of pricing mechanisms.
Speaking on the sidelines of the Energy Asia 2025 conference on Monday, Anwar said he had engaged in discussions with OPEC Secretary-General Haitham Al Ghais and key global energy players, who are closely monitoring the situation.
"Of course, they are watching the situation carefully, but it does not necessarily mean it will have a negative impact on the industry or pricing mechanisms. We hope the conflict can be resolved sooner rather than later," Bernama quoted him saying.
He acknowledged that concerns persist over a potential closure of the Strait of Hormuz — a vital maritime route for the export of crude oil and liquefied natural gas from the Middle East — which could have wider economic implications.
"This is a matter of economic impact," Anwar noted.
Despite the geopolitical uncertainty, Anwar announced significant new investments from major international energy players, including TotalEnergies, Italy-based Eni, and Saudi Aramco, signalling continued confidence in Malaysia’s energy sector and in Petronas.
"Several key investment agreements in Malaysia will be signed during the three-day Energy Asia 2025 conference," he said.
Behind closed doors, top executives and high-level leaders from sectors such as energy, technology, finance, and professional services convened for strategic discussions focused on accelerating energy transition in Asia. The aim of these meetings, Anwar said, was to foster collaboration, drive investment, and enhance the adoption of new technologies in the region.
Running from 16 to 18 June, Energy Asia 2025 is themed “Delivering Asia’s Energy”, and serves as a vital platform for Malaysia and the wider region to assess progress toward energy transition goals and reaffirm commitments to achieving net-zero carbon emissions.
The conference comes at a critical juncture as economies seek to diversify and pursue sustainable development pathways, including a shift from fossil fuels to renewable energy sources and the adoption of emerging technologies such as hydrogen and carbon capture.
Earlier, Anwar delivered the keynote address and officially launched the conference, which features 180 leading speakers from around the world and has drawn more than 4,000 participants, including policymakers, energy professionals, and industry leaders.
Key events include a plenary session titled *“Energy Present, Energy Future: Pathways for Asia’s Just Transition”, followed by a leadership dialogue on “Energy at the Crossroads: Policies, Technologies and Investments”. - June 16, 2025
