Malaysian energy company Petronas has no plans to leave Canada, the CEO of its Canadian subsidiary said on Tuesday, adding the company is committed to decades of LNG exports off the country’s West Coast.
“The rumor that Petronas is exiting Canada is absolutely not true,” said Petronas Canada CEO Mark Fitzgerald, on the sidelines of an energy conference in Calgary.
Bloomberg reported last week that Petronas was considering a sale of its Canadian company, formerly known as Progress Energy Resources Corporation. Malaysian media have also reported Petronas as saying it needed to “right-size” its workforce to ensure the company’s survival in the coming decades.