An unexpected change of government in Malaysia has introduced political risk to what had been one of southeast Asia’s most stable energy sectors. The Pakatan Harapan (PH) coalition was voted in last month, overturning 61 years of rule by the Umno party. New prime minister Mahathir Mohamad has moved quickly to deliver on election pledges, including a review of the dominant role played by state-owned oil and gas firm Petronas. A campaign promise to allow the states of Sabah and Sarawak in Malaysian Borneo to set up their own energy firms has already sparked a lawsuit by Petronas, which is seeking to defend its position.
展开▼
