The Malaysian Houses of Parliament. (Photo: iStock)

Malaysia's Economy Minister Rafizi Ramli has announced that the government will present a progressive regulatory framework bill for Carbon Capture, Utilization, and Storage (CCUS). The bill is expected to be submitted to the Cabinet meeting before being tabled in Parliament for approval during the November session.

Speaking at a CEO forum for the Oil & Gas Services and Equipment (OGSE) sector, Rafizi emphasized the government's commitment to positioning Malaysia as a global leader in carbon capture, not just a regional player. He stated, "Given the significant capital involved in carbon capture, a framework is necessary to ensure the economic viability of investments."