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According to Sinochem New Network, recently, Malaysia’s **Petroleum Company released a report titled ‘Activity Outlook 2026–2028’. The report states that Petronas will continue to invest to maintain its domestic production capacity of nearly 2 million barrels of oil equivalent per day, while strengthening its position in the liquefied natural gas sector and positioning carbon capture and storage (CCS) as a key driver for future growth. Upstream operations remain the cornerstone of Petronas’ strategy. Over the next three years, the company will maintain production by intensifying exploration in existing and new basins, accelerating the evaluation of recent oil and gas discoveries, and giving priority to developing resilient, low-cost projects. Meanwhile, upstream operations are being redesigned to align with its “net zero by 2050” roadmap. Carbon reduction measures are directly integrated into the project design; CCS hubs are viewed not only as tools for decarbonization but also as long-term business opportunities. Petronas has clearly expressed its ambition to turn Malaysia into a regional CCS hub, which goes hand in hand with its traditional strategies of improving recovery rates and advancing deep-water development; this reflects its dual focus on maintaining oil and gas cash flows and investing in infrastructure for transformation. In terms of natural gas, natural gas and liquefied natural gas (LNG) form the core pillars of Malaysia National Oil Corporation’s medium-term energy transition strategy. Within Malaysia, the focus is on optimizing existing infrastructure to ensure energy security, including the large-scale Melaka LNG complex and floating liquefied natural gas facilities. Looking ahead, the company plans to expand its re-gasification capacity, build a third FLNG facility, and upgrade its pipeline network. At the international level, Petronas is advancing LNG expansion projects in *** and Suriname, and diversifying its supply sources by importing from Australia and, in the longer term, the Middle East.