AI Summary
Petronas' asset portfolio rationalization is driven by long-term market perspectives and not political interference, according to Prime Minister Anwar Ibrahim. The strategy involves divesting some mature assets, like those in Brazil and Canada, to reinvest in new ventures, particularly in Southeast Asia alongside companies like TotalEnergies and ENI. This also includes strategic partnerships in Suriname, Indonesia, Turkmenistan, Vietnam, and notably, a rare onshore block in Abu Dhabi. The sale of assets in South Sudan was due to ongoing conflict.
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