Malaysia's Anti-graft Agency Says Probing Petronas, International Oil Firm

Mei Mei Chu and Rozanna Latiff;
Friday, May 26, 2023

Malaysia's Anti-Corruption Commission (MACC) on Friday said it is investigating allegations of corruption involving state oil firm Petronas and an international oil and gas company.

Petronas has cooperated fully with the commission in the investigation involving a project worth 399 million ringgit ($89.97 million) in the state of Sarawak, the MACC said in a statement. 

The commission did not identify the project or the international oil firm under investigation. Petronas did not immediately respond to a request for comment. 

The MACC said it had found "several weaknesses in practices, systems and work procedures" in its probe. 

"Accordingly, the Commission has proposed improvements to the standard operating procedures as preventive measures," it said. It urged parties with information on the case to come forward to assist the probe. 

($1 = 4.4350 ringgit) 

(Reuters - Reporting by Mei Mei Chu and Rozanna Latiff; Editing by Kanupriya Kapoor)

Categories: Energy Industry News Activity Asia Regulations

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