Petronas CEO: Dividend payout to Malaysian govt will depend on affordability


Hahahahahahahahahaha (snort). Seriously, pigs have been equipped with jetpacks already?

Dateline 2020-09-04, Malay Mail:

National oil company, Petroliam Nasional Bhd (Petronas) says dividend payout to the government this year will depend on its affordability in light of the plunging oil prices and Covid-19 pandemic, which has taken a toll on its financial performance.

President and group chief executive officer Tengku Muhammad Taufik Tengku Aziz said Petronas’ year-end results would be the guidance to set the expectation and the group would have to deliberate on the board subject to the company’s affordability.

He also stressed that there is no pressure from the government on it given the unprecedented challenges that oil and gas companies were facing.

“This industry is volatile and like other oil and gas companies, the shareholders will tend not seeing so much returns.

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