Petroliam Nasional Berhad (PETRONAS) and China National Petroleum Corporation (CNPC) signed a Memorandum of Understanding (MoU) to strengthen collaboration, among others, in the upstream exploration and production of oil and gas internationally, as well as the liquefied natural gas (LNG) value chain.

The MoU the parties said will also focus on innovative ventures in cutting-edge fields such as specialty chemicals, renewable energy, green hydrogen technology, and carbon capture utilisation and storage (CCS). Additionally, the two parties aim to establish an open communication platform to facilitate the exchange of knowledge, insights, and best practices, driving energy transition and taking more substantial steps towards sustainable energy development in the region.

Over the years, Petronas said it has provided China with a stable energy supply, including liquefied natural gas, petrochemical products, crude oil, petroleum products, and lubricants. By strengthening its cooperation with Chinese energy companies, the oil and gas giant said it has supported the transformation and upgrading of China's energy sector, contributing to the nation's economic prosperity and development.

President and Group CEO of PETRONAS delivered a keynote address at the CNPC International Cooperation Forum, on the sidelines of CIIE. The CIIE aims to promote economic globalisation that is open, inclusive, balanced, and beneficial for all—principles that align closely with PETRONAS' global strategy.