Petrol dealers laud direct transfer of fuel subsidy to B40

May 27, 2019

Dateline 2019-04-11, Malaysian Reserve:

PETROL dealers associations applaud the government’s proposal to deposit fuel subsidy directly into recipients’ accounts as it is a win-win solution for all.

The dealers said the direct debit method to recipients’ bank accounts would save the government and petrol station operators from having to incur transaction costs, while promoting a systematic and seamless disbursement of funds.

Petrol Dealers Association of Malaysia president Datuk Khairul Annuar Abdul Aziz told The Malaysian Reserve (TMR) that the mechanism, should it be implemented, would allay concerns of additional cost, backlog and congestion issues among users and dealers at the petrol stations.


Over 50 proposals submitted on petrol subsidy system

January 26, 2019

Dateline 2018-12-21, Malaysian Reserve:

The government has received more than 50 proposals to develop a nation-wide petrol subsidy distribution checking and monitoring system, a project which will allow only eligible Malaysians to buy fuel at discounted price at petrol stations.

The fuel subsidy programme for targeted recipients, which was announced during the tabling of the 2019 budget, is expected to be rolled out by the second quarter of next year.

But the system to be selected for the scheme must be secure and abuse-proof as the subsidy will involve millions of Malaysians who use over 1.2 billion litres of fuel monthly.

A source close to the development said the Ministry of Finance (MoF) has received over 50 proposals to develop the fuel subsidy distribution system before the tender deadline, which ended on Dec 10.


Govt seeks to decrease oil production to stabilise prices

January 11, 2019

Dateline 2018-12-04, The Star:

Malaysia will seek to decrease oil production in order to stabilise global oil prices, says Datuk Seri Mohamed Azmin Ali (pic).

“Even though we are not a member of Organisation of the Petroleum Exporting Countries (Opec), it needs the support of small producers like Malaysia to help stabilise the price of petroleum,” the Economic Affairs Minis­ter said.

Malaysia will take part in the Opec discussion in Vienna today.

Member and non-member countries are set to reach an accord over possible output cuts to address falling crude oil prices.

At present, Brent crude oil prices stand at US$62.34 (RM260) per barrel, compared to US$70 (RM292) a barrel when Budget 2019 was tabled on Nov 2.

 


I told you so, Najib says on budget after drop in crude oil price

January 3, 2019

Dateline 2018-11-14, FMT:

Former prime minister Najib Razak continued to pour scorn on Pakatan Harapan’s (PH) maiden budget today, saying its decision to formulate the budget based on the Brent crude oil price of US$72 per barrel had backfired.

Najib (BN-Pekan) said he had warned the government, during his debate on the mid-term review of the 11th Malaysia Plan, not to use the pricing of US$70 per barrel to formulate the budget.

He noted that back then, the crude oil price was US$80 a barrel.


Sarawak to use documents found in London last year in Petronas suit

August 20, 2018

Dateline 2018-06-17, FMT:

Sarawak will use documents related to the 1963 Malaysia Agreement which were found in London last year as a reference in its fight for rights to oil and gas produced in its territory.

State Law, State-Federal Relations and Project Monitoring Assistant Minister Sharifah Hasidah Sayeed Aman Ghazali said the documents, discovered by a team of lawyers which she led, could serve as evidence on the state’s rights.

“We will definitely use the documents that we obtained in London; they are certified true copies not just photostated. These will be used to assist us as evidence later in court,” she said when asked about Sarawak’s preparations in facing Petronas’ attempt in the Federal Court to seek a declaration that the Petroleum Development Act 1974 was also valid for the petroleum industry in Malaysia.


Sabah should join Sarawak to fight Petronas

August 16, 2018

Dateline 2018-06-13, FMT:

It was reported on June 5 that Petronas had gone to court to seek a declaration that under the Petroleum Development Act 1974 (PDA), the national oil company had exclusive rights over oil and gas resources in Malaysia.

Petronas’ move is in response to Sarawak’s announcement on March 7 that it had assumed full control of oil and gas resources within its territorial boundaries.

The legal test initiated by Petronas is shaping up to become a battle royale between a corporate body and a founding state of Malaysia.

After the Cabinet meeting on June 6, Prime Minister Dr Mahathir Mohamad said the federal government would leave it to the court to decide on the dispute between Sarawak and Petronas, clearly washing his hands over what could be a tenacious battle between federal and state rights.

 


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).