Petronas Seeks 2023 Energy Pact Upgrade in Vietnam Talks
Petronas moved on a proposed upgrade to its Vietnam energy ties on May 21, 2026, when Tengku Muhammad Taufik met Le Manh Hung at the Ministry of Industry and Trade headquarters in Hanoi. The company said it wants to work with Petrovietnam on a more comprehensive strategic energy partnership agreement.
For Vietnam’s energy planners, that points to a deeper channel for cross-border coordination at a time when Petronas says the regional and global geopolitical landscape remains complex through 2027 and energy costs could stay persistently high and rising. The discussion centered on how the two sides can keep cooperation practical, not just symbolic, in a tighter market.
Hanoi meeting on May 21
Le Manh Hung received Tengku Muhammad Taufik during the Petronas delegation’s working visit to Vietnam. Taufik is president and group chief executive officer of Malaysia’s national oil and gas company, and he used the meeting to press for stronger energy cooperation between Vietnam and Malaysia.
Hung valued the long-standing and effective cooperation between Petronas and the Vietnam National Industry - Energy Group, also known as Petrovietnam, and reaffirmed that Vietnam’s Ministry of Industry and Trade supports and facilitates energy cooperation activities between enterprises. That gives the talks a clear policy backstop at the ministry level, rather than leaving them only to company-to-company contacts.
Petronas, Petrovietnam, and 2023
Petronas pointed back to the Memorandum of Understanding on energy cooperation that it signed with Petrovietnam in 2023. The company said it would coordinate with Petrovietnam to study the possibility of upgrading the current cooperation framework into a more comprehensive strategic energy partnership agreement.
Petronas believes Vietnam and Malaysia should further enhance cooperation in the energy sector to ensure energy security, promote sustainable development, and improve resilience against fluctuations in international energy markets. In practical terms, the move suggests the 2023 framework is being treated as a starting point, not an endpoint.
ASEAN grid and energy supply
Tengku Muhammad Taufik also said ASEAN member states have reached consensus on advancing the ASEAN Power Grid initiative. He said Vietnam has considerable potential in refining and petrochemicals, renewable energy, and offshore wind power, while Malaysia has strong capabilities in oil and gas, LNG, and diesel fuel production.
The Malaysian side said it was ready to strengthen cooperation with Vietnam in information sharing, exchange of management experience, and training and improving the quality of technical human resources in the energy sector. If the two sides move beyond the study phase, those are the areas most likely to shape the first results for companies and workers tied to the bilateral energy link.
