The importance of oil and gas to the modern Malaysian economy seems readily obvious. The twin towers that stand majestically in Kuala Lumpur are a towering testimony. Oil can be a curse, not a blessing, if this precious resource is mismanaged, as shown by the experience of some countries. In the case of Malaysia, one mayargue, the record has been fairly impressive. Petronas, the national agency that manages the nation’s oil and gas resources, has performed remarkably well in carrying out its task by any yardstick. What is more,Petronas has spread its wings and ventured overseas in a big way, garnering billions in foreign exchange earnings through international operations. By Mohammed Ariff. Publication/Conference MIERScan, 17 September 2007.