KUALA LUMPUR, May 30 — Petroliam Nasional Bhd (Petronas) has entered into a strategic collaboration with China Petrochemical Corporation (Sinopec) to explore opportunities to drive growth and innovation across the energy value chain.

In a statement, Petronas said that the collaboration signifies the companies’ commitment in ensuring a resilient and affordable energy supply to foster economic growth and development in the Asia Pacific region, while accelerating the transition to a low-carbon economy.

"The collaboration will focus on sustainable growth in the areas of commodity and specialty chemicals, crude oil and liquefied natural gas trading, lubricants, and digital solutions.

"It will also focus on driving decarbonisation efforts for various industries such as transportation, shipping, manufacturing, aviation and power, thus enabling both parties to reduce their carbon footprint while remaining competitive,” said the national oil company. — Bernama