
PETRONAS: Energy demand to rise in Asia-Pacific region amid AI-led industrial shift
Petroliam Nasional Bhd (PETRONAS) president and group chief executive officer (CEO) Tan Sri Tengku Muhammad Taufik Tengku Aziz speaking at Energy Asia 2025
KUALA LUMPUR: Energy demand in ASEAN and the Asia-Pacific region is expected to rise in the coming years, driven by the adoption of artificial intelligence (AI) under the Fifth Industrial Revolution, said Petroliam Nasional Bhd (PETRONAS).
The growth in energy demand will also be fuelled by the perpetual hunger for growth, rightful justifiable pursuit of economic development, rapid urbanisation, growing middle income and the demographic within ASEAN and the Asia Pacific, PETRONAS president/group chief executive officer Tan Sri Tengku Muhammad Taufik Tengku Aziz said during the closing ceremony of Energy Asia 2025 conference here today.
Tengku Muhammad Taufik said strong collaborations and purpose-driven partnerships are essential to navigating the evolving energy landscape.
He added that both AI and energy are equally important to improve the energy ecosystem.
"Looking at the energy ecosystem, it is indeed a more difficult prospect but probably even more facilitated because of AI. But, we believe AI will greatly and exponentially change energy systems once they are up and running," he added.
Meanwhile, a total of 14 memoranda of understanding (MoUs) were signed during the three-day conference, which also featured seven roundtables and 11 launches, and welcomed 13,765 visitors.
The Energy Asia 2025 conference, themed Delivering Asia's Energy Transition, attracted over 4,092 delegates. The biennial event will return as Energy Asia 2027, scheduled for June 2 to 7, 2027. - Bernama
Hashtags

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles

Barnama
an hour ago
- Barnama
President Prabowo Invites Russian Firms to Enter Indonesian Market
ST. PETERSBURG, June 20 (Bernama-Sputnik/RIA Novosti) -- Indonesia is open for business and welcomes Russian companies to invest in the Indonesian market, President Prabowo Subianto said on Friday, Sputnik/RIA Novosti reported. "We are open for business. We invite all groups from everywhere, especially Russian entities ... We know Russian corporations, and we would like to see Russia participate more in our economy," Prabowo Subianto said at a plenary session of the the 2025 St. Petersburg International Economic Forum (SPIEF). The Russian city of St. Petersburg is hosting the 28th edition of SPIEF from June 18-21 under the theme of "Shared Values: The Foundation of Growth in a Multipolar World". Rossiya Segodnya international media group, RIA Novosti's parent company, is the forum's information partner.


The Sun
2 hours ago
- The Sun
Malaysian timber exports may gain edge in US market, says FRIM forest products director
KUALA LUMPUR: Malaysia's timber exports may gain a competitive edge in the US market due to higher tariffs imposed on regional rivals such as Vietnam and Indonesia. Vietnam, once a leading furniture exporter in the region, now faces tariffs as high as 46% compared with Malaysia's import levy of 24%, Forest Research Institute Malaysia (FRIM) director of forest products division Wan Tarmeze Wan Ariffin said. 'US President Donald Trump imposed higher tariffs on Vietnam probably because they're afraid China might use Vietnam as a manufacturing hub' to bypass American trade restrictions,' he told Bernama. The United States is the largest buyer of Malaysian furniture, accounting for over half of furniture exports. However, the tariffs announced on April 2 have been paused for 90 days till early July to allow America's trading partners to negotiate for lower tariffs. 'If they don't impose high tariffs on Vietnam, China could exploit that route. So, on paper, the advantage actually lies with us (Malaysia),' he said. In 2022, Malaysia exported timber and timber products worth RM7.73 billion to the US. This was an increase from RM3.76 billion in 2018. Malaysia's timber exports worldwide include furniture, logs, veneer, plywood and medium-density fibreboard. Asked on the challenges faced by the timber industry, Wan Tarmeze said Malaysia's furniture sector primarily relies on processed wood rather than solid timber, with wood-based materials accounting for up to 85% of inputs in the making of the furniture. Wan Tarmeze said the ongoing Iran-Israel military conflict is not expected to have a direct impact on Malaysia's timber exports. Nevertheless, post-conflict reconstruction could open up new market opportunities and raise demand for Malaysian timber. 'Wars often lead to widespread destruction, but once the situation stabilises, there's usually a surge in demand for rebuilding – including homes and infrastructure,' he said. When asked how Malaysia can position itself as a high-value timber exporter rather than a volume-based player, he said the shift ultimately depends on the industry players themselves. 'This has been a long-standing conversation as Malaysia is still heavily reliant on the original equipment manufacturer (OEM) model, manufacturing timber products for others without having its own strong, internationally recognised brands. 'Take IKEA for example, which is a Swedish brand while Italy has its own well-known brand names, but Malaysia has yet to produce a brand that stands out globally,' Wan Tarmeze said. OEM refers to manufacturing products for other brands, whereas original brand manufacturers (OBM) involves developing and marketing products under one's own brand name. Wan Tarmeze said that despite the government's repeated calls for the industry to move from being OEM to OBM, the shift has yet to happen. 'The issue is not about identity but branding, and without branding we can't build value. 'The truth is Malaysia tends to shy away from copying, but we should be more open to learning from others, even 'stealing' ideas in the sense of adapting best practices and making them our own,' he said.

Barnama
2 hours ago
- Barnama
TASS Elected Oana Chair For Next Three Years
ST. PETERSBURG, June 20 (Bernama-TASS) -- Russian state news agency TASS has been unanimously elected as chair of the Organisation of Asia-Pacific News Agencies (OANA) until 2028. The decision was made during the plenary meeting of the 19th OANA General Assembly held in St. Petersburg, TASS news agency reported. TASS Director General Andrey Kondrashov was also elected president of OANA for the duration of the chairmanship, while TASS First Deputy Director General Mikhail Gusman will serve as the organisation's secretary-general.