Malaysia PM says Shell to boost its investments in country by $2 billion
KUALA LUMPUR, June 17 (Reuters) - Malaysian Prime Minister Anwar Ibrahim said on Tuesday that Shell (SHEL.L), opens new tab has committed to increasing its investments in Malaysia by 9 billion ringgit ($2.12 billion) over the next two to three years.
The boost in Shell's investments will create high-skilled job opportunities for Malaysians, Anwar said in a Facebook post following a meeting with Shell CEO Wael Sawan. He did not provide further details.
"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.
Shell did not immediately respond to a request for comment.
($1 = 4.2430 ringgit)
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Reuters
an hour ago
- Reuters
Malaysia keeps anti-dumping duties on some Chinese, Japanese iron, steel
KUALA LUMPUR, June 21 (Reuters) - Malaysia said on Saturday it would maintain anti-dumping duties on imports of Chinese and Japanese cold rolled coils of iron and non-alloy steel more than 1,300 mm wide. But the trade ministry said in a statement it would terminate anti-dumping duties on imports from South Korea and Vietnam on Monday. The duties, to be in effect for five years, will exclude imports from all four countries of tin mill black plate and merchandise imported for automotive purposes, and finwall for transformer use. Three Chinese producers face duty rates of 4.82%, 4.76% and 8.74% while other Chinese producers and exporters face 26.38% duties. Japanese exporters will be subjected to a 26.39% duty.
Reuters
2 hours ago
- Reuters
EnQuest to finalise $84 million Vietnam oilfield acquisition soon, CEO says
SINGAPORE, June 21 (Reuters) - UK explorer EnQuest (ENQ.L), opens new tab expects to complete the acquisition of Harbour Energy's (HBR.L), opens new tab business in Vietnam in the next month or two and plans to drill new wells to increase oil production there, CEO Amjad Bseisu said. The $84 million acquisition is part of the North Sea-focused company's expansion outside its home market. EnQuest will acquire just over a 53% equity interest in the Chim Sao and Dua production fields in Vietnam. "We were excited about the asset there as we see development opportunities, and we also see some in-fill opportunities," Bseisu told Reuters earlier this week. "So we'll be looking, once we take over, to investing in the field and trying to increase its productivity." In offshore Peninsular Malaysia, the company is on track to start producing non-associated gas from the Seligi field next year, Bseisu said. Daily gas production will be increased from 14,000-15,000 barrels of oil equivalent to 25,000 boe, he added. The company, along with energy majors, is investing in gas exploration and production in Southeast Asia to meet rising power demand from growing populations and a proliferation of data centres in the region. "Asia is our biggest growth engine now for gas," Bseisu said. In Indonesia, EnQuest is part of a consortium awarded in April the production and sharing for Gaea and Gaea II blocks, which are near the BP-operated (BP.L), opens new tab Tangguh LNG plant. Bseisu said EnQuest's strategy in Indonesia is to try and find gas close to existing plants. He added that domestic gas production is more attractive than liquefied natural gas (LNG) for governments as it creates revenue, jobs and expands the industry.
ITV News
8 hours ago
- ITV News
Nigerian communities win right to sue Shell over oil spills, but face wait until 2027 for trial
Two Nigerian communities, which began legal action in 2015, have won the right to sue Shell for damages over oil pollution and will go to trial in 2027.
