Time for Sarawak to set up its own oil company


Can I be the first to submit my CV?

Dateline 2016-03-24, Malaysiakini:

The total revenue of 44 petroleum companies around the world in 2015 is worth US$5,674,351 trillion and company Syarikat Petroliam Nasional Bhd (Petronas) was ranked 19th with revenue of US$100.74 billion after Gazprom.

The federal government-owned companies had contributed RM881.3 billion in dividends, taxes, royalties and duties to the federal government and the state government from 1974 until the end of 2014. If we include the foregone revenue (in the form of gas subsidy) totaling RM230.6 billion after regulated gas prices came into effect on May 1997, Petronas total financial contribution to the Malaysian economy could reach RM1.11 trillion in 40 years.

This is equivalent to RM27.75 billion a year or RM2.3125 billion a month!

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