PETROLIAM Nasional Bhd (Petronas) is looking to expand its renewable-energy (RE) portfolio, after posting a RM21 billion loss due to weak oil prices and sluggish demand amid the Covid-19 pandemic. Its president and group CEO Tengku Muhammad Taufik Tengku Aziz (picture), who took the helm in July this year, categorised the current state of the oil and gas (O&G) industry as a “great reset”. “The unprecedented and challenging market conditions have significantly impacted the industry and as you have seen, Petronas was not spared,” he said at a media briefing in Kuala Lumpur last Friday.
