Keep Sapura’s huge oil reserves out of foreign hands, says Najib


Yeah, gomen, listen to your Glorious Leader. Maybe MOGEC or MOGSC should take over ownership. Or MTEM.

Dateline 2021-04-02, FMT:

Former prime minister Najib Razak insists that the government offer a loan guarantee to Sapura Energy Bhd in order to save its oil reserves from falling into foreign hands before its full potential can be realised.

He said the company’s subsidiary, Sapura OMV, owned oil and gas reserves of 264 million barrels with a gross value of RM110.8 billion.

If the subsidiary is put up for sale, as is being speculated, Sapura’s joint venture partner OMV of Austria, would likely be the first choice buyer as it already holds a 50% stake in Sapura OMV with the remaining 50% held by Sapura Energy.

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This entry was posted on Monday, May 9th, 2022 at 6:07 am and is filed under Malaysian election, oil and gas. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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