Shell to invest RM9bil more in Malaysia over next few years

 Prime Minister Anwar Ibrahim says the energy giant’s renewed commitment is a vote of confidence in Malaysia’s economic direction.

Shell’s CEO Wael Sawan paid Prime Minister Anwar Ibrahim a courtesy call in Putrajaya today. (X pic)

PETALING JAYA:

 Global energy giant Shell has pledged to invest over RM9 billion in Malaysia over the next two to three years, says Prime Minister Anwar Ibrahim.

He said Shell’s CEO Wael Sawan conveyed the commitment during a courtesy call today.

“This decision stands as a resounding vote of confidence from a world-class investor in our sound economic policies, clarity in our leadership, and promise in our future,” Anwar said in an X posting.

During the courtesy call, Anwar said he shared the Malaysian government’s strategic vision in positioning the country as a stable and sustainable investment destination.

He said Sawan, in turn, expressed Shell’s strong confidence in the country’s direction, adding that Shell’s upcoming investments would help create high-skilled job opportunities for Malaysians.

“Malaysia will continue to chart a course that is prosperous, resilient and worthy of its people’s highest hopes,” Anwar added.

Shell owns about 950 petrol stations in Malaysia, with only Petroliam Nasional Bhd (Petronas) operating a wider network.

It also sells industrial lubricants and produces crude oil and natural gas off Sabah and Sarawak’s shores.

The company is also a joint venture partner in liquefied natural gas projects. - FMT