Petronas seeks clarity amid Sarawak’s O&G ambition


For the historical books

Dateline 2018-06-19, The Edge:

PETROLIAM Nasional Bhd’s (Petronas) court challenge of Sarawak’s claim of regulatory authority over oil and gas activities in the state has sparked a barrage of political responses and an angry backlash.

There was an outcry over the perceived trampling of state rights over oil and gas wealth in Sarawak. Many also began to question Pakatan Harapan’s pre-election promise to increase oil royalty to 20%.

But court documents viewed by The Edge indicate that the national oil company is pursuing a more precise question: who is in charge of upstream oil and gas activities in Sarawak?
For Petronas, it is a question that needs an urgent answer because operational continuity and investor confidence, which are vital to attract future investments, are at stake.

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