Petronas

Whether the country gains depends on factors such as what it exports and imports and its subsidy exposure

The approval comes as Asian gas buyers seek greater supply certainty due to Middle East-driven disruptions

It warns of uncertain energy landscape

The government could spend up to RM40 billion (US$9.83 billion) on fuel subsidies this year

The agreement will begin in 2028

The new company will start from an initial production base of over 300,000 barrels of oil equivalent per day

The deal underscores how the Iran war is reshaping energy partnerships across Asia

The South-east Asia country is widely considered as a global leader in halal processing due to its established certification standards

State-owned oil giant says fuel supply across its nationwide station network had been secured till end-June