Below are excerpts of Petroliam Nasional Bhd (Petronas) chairman Tan Sri Mohd Bakke Salleh's letter to stakeholders.

Excerpts of the letter were extracted from the Petronas Integrated Report 2021.

Dear stakeholders,

Two years have passed since the pandemic began, and our world continues to be challenged by volatility and uncertainty on an unprecedented scale in living memory. Even as countries and industries alike strive to recover from the brutal impact of Covid-19, they now face new-found challenges in the wake of the ongoing Russia-Ukraine conflict whose consequences may well long outlast the hostilities themselves and which are likely to reshape the industry landscape in fundamental and complex ways.

Notwithstanding the prevailing uncertainties, the role that Petronas plays as an energy company in the context of the wider society remains clear — namely, that it continues to serve as an effective engine that drives economic recovery for Malaysia and beyond by ensuring the safe, secure and reliable supply of energy, while taking vital steps that pave the way to gradually transition to a lower-carbon future in a just and equitable way.

In our efforts to fulfil this role, Petronas remains unwavering in the delivery of its amanah (trust), always striving to dutifully discharge its obligations and responsibilities despite the overwhelming odds and challenges. With prudent financial management and an unyielding commitment to upholding safety performance as well as delivery of commercial and operational excellence, Petronas registered a strong performance in 2021 after two years of extreme disruptions to the energy ecosystem. This achievement by the group is credited to the courage, dedication and tenacity of our people. In this opportunity, I  would also like to thank our stakeholders for their support and assistance that allowed us to continue operating safely and optimally throughout the lockdown periods.