Viability and Challenges of Energy Transition Policies on the Oil and Gas Industry in Malaysia

Mohd Haris Abdul Rani, Muhammad Afiq Adam Mohamad Zamzuri, Mohammad Khalis Sirajasharifudeen Mohd Noor Sirajajudeen and Fitra Syafeeqa Syaheezam
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Muhammad Afiq Adam Mohamad Zamzuri: Faculty of Law, Universiti Teknologi MARA Malaysia
Mohammad Khalis Sirajasharifudeen Mohd Noor Sirajajudeen: Faculty of Law, Universiti Teknologi MARA Malaysia
Fitra Syafeeqa Syaheezam: Faculty of Law, Universiti Teknologi MARA Malaysia

International Journal of Research and Innovation in Social Science, 2024, vol. 8, issue 12, 3727-3737

Abstract: Energy transition involves a significant shift from one energy source or supply to another, aiming to decrease fossil fuel consumption and mitigate climate change. Malaysia’s transition policies, such as the National Energy Transition Roadmap and the National Energy Policy, target ambitious renewable energy goals, including achieving net-zero emissions by 2050. However, the oil and gas sector, a cornerstone of Malaysia’s economy, faces significant challenges during this transition. This paper critically examines these challenges and presents actionable recommendations to leverage the expertise and resources of Malaysia’s oil and gas industry to support energy transition efforts. Recommendations include introducing financial incentives, promoting stakeholders’ collaboration, fostering research and development and ensuring a socially inclusive transition. This study contributes to understanding the viability of energy transition policies in Malaysia and provides insight for policymakers and industry stakeholders.

Date: 2024
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