Petronas Sets Up Team For Renewable Energy Push

Malaysian state-owned oil and gas firm Petroliam Nasional Berhad, or Petronas, has set up a new business within the group to make a push into renewable energy, the head of the new venture said Nov. 27.

Petronas has expressed interest over the last year to diversify into renewables amid low oil prices. In March, CEO Wan Zulkiflee Wan Ariffin said Petronas will explore new business areas including new energy and that the company will assess opportunities in solar power.

During an industry forum, Jay Mariyappan said the New Energy team is in the early stages of looking at options in the renewable energy space.