Oil royalty dispute to hinder Sarawak


Dateline 2018-10-23, Malaysian Reserve:

Not many appreciate the fact that Malaysia is currently one of the largest oil and gas (O&G)-producing nations in Asia, producing about 720,000 barrels of oil per day in 2017 — accounting for about 9.8% of Asia’s oil production and 73 billion cu m of natural gas in 2017, the highest in South-East Asia.

According to the Department of Statistics Malaysia (DoSM), the country’s GDP stood at RM1.17 trillion in 2017 with mining and quarrying (97% crude oil, condensates and natural gas) contributing about 9% or RM98.4 billion to the economy.

 

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