KUALA LUMPUR, March 1 (Bernama) — The year 2020 proved to be an extraordinary year which saw the confluence of the coronavirus pandemic, OPEC+ alliance’s failure to conclude timely production accord and continuing energy market imbalances that severely impacted global energy demand and oil prices. Despite facing these challenges and the acceleration of the energy transition, PETRONAS on 26 February 2021 announced a commendable performance for its financial year ended 31 December 2020.
The Group delivered strong operational performance during the year through the implementation of risk mitigation efforts as immediate responses to unfavorable market conditions, as well as deliberate steps to strengthen its resiliency. Together with this, PETRONAS remains focused on operational efficiencies, commercial excellence and fiscal discipline across its value chain.