PH has urged Sarawak government to amend PDA

July 14, 2018

Dateline 2018-06-06, NST:

Sarawak Pakatan Harapan has urged the state government to amend the Petroleum Development Act 1974 (PDA).

Its chairman Chong Chieng Jen said if this was not done, the ownership and control of oil and gas industry in Sarawak would remain with Petroliam Nasional Bhd (Petronas).

He said the Chief Minister Datuk Patinggi Abang Johari Abang Openg had refused to do so and insisted that PDA was irrelevant in Sarawak.

“He (Abang Johari) has been saying the PDA is irrelevant and claimed that the state has the full regulatory authority over the upstream and downstream aspects of the oil and gas industry, with the establishment of the Petroleum Sarawak Berhad (Petros).

 


Oil ownership case may ‘break’ Malaysia, STAR warns

July 12, 2018

Oo, does that mean we will have ‘Malay’ and ‘Sia Republic’?

Dateline 2018-06-06, FMT:

Parti Solidariti Tanah Airku (STAR) president Jeffrey Kitingan today warned that any court ruling favouring Petronas in the matter of petroleum resources ownership could signal “the end” of Malaysia.

“If the federal government insists on this, we will go back to the basis of the formation of Malaysia.

“What do they want to do? Break up Malaysia? This is a big case, and I am surprised the state government is not saying anything about it,” he told reporters after attending the annual Double Six memorial day here.


Sarawak hails move to clarify rights over oil

July 10, 2018

Dateline 2018-06-05, FMT:

A Sarawak minister has welcomed Petronas’ move to let the Federal Court settle the issue of ownership of petroleum resources in the country.

 “It’s good that Petronas is finally taking the matter to court for clarification so that Sarawak and Malaya can revisit what they negotiated and agreed to when they formed Malaysia,” said Abdul Karim Rahman Hamzah, the state minister for tourism, arts, culture, youth and sports.

“As far as Sarawak is concerned, resources within the state’s territory, which includes its continental shelf, belong to the state and require the state’s permission to extract.”


Don’t plunder Petronas, Najib tells Pakatan government

July 6, 2018

Avast there, maties! BTW, when does Datuk Seri get his Tun?

Dateline 2018-05-31, The Star:

Former prime minister Datuk Seri Najib Tun Razak (pic) has urged the new government not to plunder funds from Petronas for bailouts.

“I urged the new government to continue to give sufficient space and capital to Petronas to fulfil their vision and not to plunder funds from Petronas or through bail-out missions as what was done during the 22 years of Tun Dr Mahathir Mohamad’s previous administration,” he said on his Facebook post on Thursday (May 31).

Najib noted the new Pakatan Harapan government recently stated that the shortfall in revenue due to the abolishment of the Goods and Services Tax (GST) would be made up by Petronas, Khazanah, and Bank Negara Malaysia by making higher dividend payments to the government.


RON95 and diesel price to stay, RON97 will be floated — PM

July 5, 2018

Dateline 2018-05-30, The Edge:

The government will retain the current price of RON95 and diesel at the pumps, but the price of the premium RON97 petrol will be subject to a float system, Prime Minister Tun Dr Mahathir Mohamad said today.

“The price for diesel and RON95 will be maintained, but the price for RON97 will be floated according to the market,” Dr Mahathir told reporters after chairing the second weekly Cabinet meeting here today.

At present, RON95 and diesel are sold at RM2.20 per litre and RM2.18 per litre respectively, while that of RON97 is priced at RM2.47 per litre. The retail fuel prices have remained unchanged ahead of the 14th general election on May 9, despite crude oil prices rising to US$75.39 per barrel at the time of writing.


Oil Money Might Help Mahathir Fund Malaysia’s Budget Without GST

June 26, 2018

Slow news week. My apologies for the slowdown in the O&G sector.

Dateline 2018-05-16, Bloomberg:

promise to scrap the goods-and-services tax helped Prime Minister Mahathir Mohamad win an election that led to Malaysia’s first change in government since independence.

 Now, the question is how he will fund the nation’s budget without the 44.3 billion ringgit ($11 billion) earned from the consumption tax in 2017 alone. The answer might lie in his coalition’s manifesto.

The Pakatan Harapan alliance pledged to set up a sovereign wealth fund using profits from state-owned oil company Petroliam Nasional Bhd. to provide future welfare for the people and stability to the country. That may help the government balance its budget as it moves toward scrapping the GST.


Ministry says no plans yet to review fuel commission rate

May 27, 2018

I guess this go derailed, huh?
Deadline 2018-03-01, Malay Mail:

The Ministry of Domestic Trade, Cooperatives and Consumerism has no plans yet to review the fuel commission rate for petrol station operators and will wait until after the 14th General Election to decide on the matter, says its minister Datuk Seri Hamzah Zainudin.

“The current system is well received by the public and we do not intend to make any changes now.

“I have received the memorandum from the Bumiputera Petrol Dealers Association (Bumipeda) have met up with them,” he told reporters after attending a feast at Kampung Tapah, Selama near here today.