Petronas CEO on energy security, energy transition, renewables

Geopolitical upheaval has thrust energy security back into focus, the group CEO of Malaysian oil and gas giant Petronas said.

Energy markets have been volatile since Russia invaded Ukraine in late February. The U.S. banned Russian energy imports while the EU proposed curbing purchases of Russian oil. Russia has cut off gas supplies to some European countries.

“With so much gas being removed from the system, not being available to Europe, so [many] barrels now making its way through different routes — the challenge of ensuring energy security has now taken its position again, front and center,” Petronas’ Tengku Muhammad Taufik told CNBC’s Steve Sedgwick.

At the start of the year, many…