Malaysia

Malaysian firms eye Uganda’s oil fields amid shrinking domestic reserves

Image Credits: UnsplashImage Credits: Unsplash
  • Malaysian firms are exploring oil opportunities in Uganda as domestic reserves decline, with production expected to start by 2025.
  • Malaysia’s oil and gas sector contributes 20% to GDP, but reserves may deplete by 2038, pushing companies like Petronas to seek overseas investments.
  • Challenges include infrastructure gaps and ESG concerns, as Uganda’s oil projects face scrutiny over environmental and social impacts.

[MALAYSIA] Malaysian companies have been invited to compete for unexplored petroleum fields in Uganda, as the Southeast Asian nation’s oil and gas sector faces the challenge of rapidly depleting resources.

Uganda's oil industry has garnered significant attention in recent years due to substantial discoveries in the Albertine Graben region, which is estimated to contain more than 6.5 billion barrels of crude oil. With production set to begin by 2025, the East African country is positioning itself as a prominent player in the global energy market. For Malaysian firms, this represents a strategic opportunity to secure long-term reserves as domestic output continues to decline.

The oil and gas sector plays a vital role in Malaysia's economy, contributing approximately 20 percent of the nation’s 1.9 trillion ringgit (US$432 billion) gross domestic product.

Experts highlight that Petronas, Malaysia’s state-owned energy giant, has been proactively diversifying its portfolio by investing in international projects spanning Africa to South America. Expanding into Uganda fits well with this strategy, allowing Malaysian companies to leverage their expertise in deepwater and onshore exploration while reducing the risks associated with over-reliance on domestic reserves.

However, the government has cautioned that Malaysia's oil reserves could be depleted by 2038, with production from the country’s peninsular oilfields having already dropped to 350,000 barrels per day last year—half of what it was a decade ago.

The decline in output has sparked calls for a greater focus on renewable energy investment, yet hydrocarbons continue to serve as a critical economic driver in the short term. Uganda's untapped oil fields offer a promising alternative, although challenges such as infrastructure limitations and regional geopolitical risks may present obstacles for foreign investors.

Furthermore, environmental concerns related to Uganda’s oil projects, including the controversial East African Crude Oil Pipeline, have attracted criticism from activists. Malaysian firms entering the Ugandan market will likely face the need to navigate strict environmental, social, and governance (ESG) standards to meet global sustainability expectations while pursuing profitable opportunities.


Read More

Mortgages World
Image Credits: Unsplash
MortgagesJuly 7, 2025 at 2:30:00 AM

Why a bank mortgage may serve you better over time

For many Singaporeans, buying a home begins not with browsing property listings, but with an entirely different kind of decision: choosing the loan...

Loans World
Image Credits: Unsplash
LoansJuly 7, 2025 at 2:00:00 AM

When should you use a personal loan in Singapore?

Singaporeans are, by most global comparisons, financially prudent. The national savings rate remains high, household debt levels are generally stable, and mandatory CPF...

Home Living World
Image Credits: Unsplash
Home LivingJuly 7, 2025 at 2:00:00 AM

Why your nonstick pan suddenly isn’t working like it used to

When I got married three years ago, I didn’t want a mountain of kitchen gadgets cluttering our tiny flat. Instead of a traditional...

Leadership World
Image Credits: Unsplash
LeadershipJuly 7, 2025 at 2:00:00 AM

What happens when leaders rely on business storytelling

Startup lore has turned storytelling into a superpower. “Great founders are great storytellers,” they say. VCs nod. Accelerators drill it. Decks lead with...

Health & Wellness World
Image Credits: Unsplash
Health & WellnessJuly 7, 2025 at 2:00:00 AM

Why blood sugar spikes at night—and how to prevent it

You’re not eating terribly. You’re not completely sedentary. Maybe you’re even tracking your macros and pushing through daily workouts. But something still feels...

Economy World
Image Credits: Unsplash
EconomyJuly 6, 2025 at 7:30:00 PM

Trump economic volatility is breaking the global trust flywheel

Six months into Donald Trump’s second term, the US economic engine isn’t just misfiring—it’s rattling the frame of global market trust. The data...

Relationships World
Image Credits: Unsplash
RelationshipsJuly 6, 2025 at 7:30:00 PM

Come back before the door closes for good

Not long ago, I wrote about what a “good death” looks like: affairs settled, loved ones nearby, no harsh words left unsaid. But...

Economy World
Image Credits: Unsplash
EconomyJuly 6, 2025 at 7:00:00 PM

Lady Gaga’s concert gave Singapore’s economy a boost

In the cool hum of a Singapore evening, the National Stadium came alive—not just with sound, but with sequins, silver boots, and face...

Mortgages World
Image Credits: Unsplash
MortgagesJuly 6, 2025 at 7:00:00 PM

Why mortgage structure matters for economic resilience

Mortgage structure isn’t just a personal finance decision—it’s a systemwide signal. When housing credit is tightly regulated, households remain resilient, banks stay solvent,...

Loans World
Image Credits: Unsplash
LoansJuly 6, 2025 at 6:30:00 PM

New student loan repayment plan 2025

If you’ve been using an income-driven plan to manage your student debt, you may want to sit down. The new student loan repayment...

Relationships World
Image Credits: Unsplash
RelationshipsJuly 6, 2025 at 6:30:00 PM

Helping toddlers sleep through the night

The hallway is quiet—until it’s not. You hear the rustle of sheets, the soft click of a door, then the unmistakable pat-pat of...

In Trend World
Image Credits: Unsplash
In TrendJuly 6, 2025 at 1:30:00 PM

What a yellow cap on Coca-Cola really means

There are two types of Coke drinkers. The kind who grab a bottle, twist off the cap, and never think twice about it....

Load More