Oil Companies in Malaysia

Oil companies in Malaysia are engaged in the exploration, development, production and marketing of crude oil and natural gas. The oil and gas industry in Malaysia is regulated by the Ministry of Energy, Science, Technology, Environment and Climate Change (MESTECC).

The petroleum industry began in Sarawak in 1910 with the discovery of oil at the First Oil Well in Miri. This was followed by the discovery of oil in Selangor in 1911, and in Peninsular Malaysia in 1929. Production of crude oil began in 1934 from the Sungei Tua oil field in Selangor.

The Malaysian oil and gas industry is currently dominated by three state-owned companies – Petronas, Shell and ExxonMobil – and two privately-owned companies – Scomi and Hibiscus Petroleum.

Petronas is the largest oil and gas company in Malaysia, with a market capitalisation of US$88 billion as of 2017. It is also the largest oil and gas company in Southeast Asia and the only Malaysian company to be listed in the Fortune 500.

Shell is the second-largest oil and gas company in Malaysia, with a market capitalisation of US$73 billion as of 2017. ExxonMobil is the third-