Petronas says Malaysian anti-graft probe found no wrongdoing by the firm By Reuters

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Petronas says Malaysian anti-graft probe found no wrongdoing by the firm

Published May 26, 2023 11:49PM ET Updated May 27, 2023 12:15AM ET

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Petronas says Malaysian anti-graft probe found no wrongdoing by the firm

KUALA LUMPUR (Reuters) -Malaysia's state oil firm Petronas said on Saturday an anti-corruption probe into the firm's dealings involving a $90 million project had not found any wrongdoing by the company.

Malaysia's Anti-Corruption Commission (MACC) said on Friday it was investigating allegations of corruption involving Petronas and an international oil and gas company in a project worth 399 million ringgit in the state of Sarawak. It did not identify the company.

Petronas said the investigation was opened in relation to its award of a contract to a Malaysian subsidiary of an international upstream company in 2021.

"Petronas had given full cooperation to MACC in the investigation that had not found any wrongdoing by Petronas, its employees, and directors," the company said in a statement to Reuters.

The MACC said it had found "several weaknesses in practices, systems and work procedures" in its probe, and proposed improvements to Petronas' standard operating procedures as preventive measures.

Petronas said it continues to improve and strengthen its standard operating procedures as part of an effort to prevent and fight all forms of corruption and misconduct.

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