November 15, 2012
Dateline 2012-10-16:
Pakatan Rakyat (PR) clarified today that it will not scrap Petronas’ RM60 billion petrochemical refinery in Pengerang should it wrest federal power but will only put the project on hold, pending the resettlement of affected villages in the Johor constituency.
PR de facto leader Datuk Seri Anwar Ibrahim (picture) told a press conference here that the pact was not against the multibillion ringgit refinery but was concerned over how the Petronas’ Refinery and Petrochemicals Development (RAPID) had been rushed without due consultation with those living in the affected areas.
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Posted by Wata
November 11, 2012
Dateline 2012-10-14:
OPPOSITION FOLLY: An increase in royalty payments to states to 20pc will hit the nation as much as the firm.
BY all accounts, Petronas’ role in overseeing and managing the country’s oil and gas resources has been exceptional.
Started in 1974 as a small national oil corporation, Petronas has since emerged as Malaysia’s only global Fortune 500 company, with operations in upstream and downstream activities in dozens of countries.
Petronas’ oil and gas reserves now rank 28th in the world, higher than some well-known European or Chinese oil companies, according to a study.
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Posted by Wata
November 10, 2012
Puhleez…
Dateline 2012-10-13:
Pakatan Rakyat’s pledge to give 20 percent oil royalty instead of the current 5 percent to oil producing states will not incur extra burden to national oil firm Petronas, said PKR strategic director Rafizi Ramli today.
He said according to the new deal, the coalition will use Petronas’s current contribution of RM70 billion every year to the Federal budget to make up for the additional 15 percent revenue, and not by altering any present tax structure imposed on the company.
Petronas yesterday criticised PR’s plan to increase royalty payment for oil producing states, saying it could jeopardise its business and profitability and tax payments due to lower income.
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Posted by Wata
November 3, 2012
Dateline 2012-10-17:
The RM7.2 billion received by Sabah for the past 40 years, being the 5% oil royalty payment under an agreement to extract the commodity from the state and its waters, is a major rip-off for the Sabahans, Kota Kinabalu MP Hiew King Cheu said today.
“The Sabahans’ demand for an increase in oil and gas sharing is understandable and this figure [of RM7.2 billion] is solid proof that the wealth of the Sabahan is exploited and being siphoned away.
“We did not enjoy the wealth provided by mother earth; instead we ended up with plenty of hardship, poverty, no development, and poor economy. Many other oil-producing countries are rich, but Sabah has remained a poor state,” he said.
He was commenting on Prime Minister-cum-Finance Minister Najib Tun Razak’s reply to a question raised by him in Parliament recently.
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Posted by Wata
November 2, 2012
You know which box to tick.
Dateline 2012-10-05:
PKR said today it plans to scale down Petronas’ RM60 billion petrochemical project and move it from Pengerang in Johor to Kertih in Terengganu if it wins in the coming general election.
Critics of the controversial Refinery and Petrochemicals Development (RAPID) project have said that it will cause thousands of villagers in Pengerang to lose their homes and livelihoods.
“Why (do we) need to take the land of villagers in Pengerang when we have enough land in Kertih?” Wong Chen, PKR’s chairman of investment and trade bureau, asked at a press conference at the party’s headquarters here.
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Posted by Wata
October 30, 2012
Dateline 2012-10-01:
Demands for increased royalty to be paid to oil-producing states will cause both a drop in tax collections and profits for government-owned firm Petronas, Umno lawmaker Khairy Jamaluddin said today.
“We understand demands from states such as Kelantan but we have to think of the financial implications when we talk about increasing royalty,” the Rembau MP said in Parliament.
The Barisan Nasional (BN) and Umno Youth chief said it was “not so easy” as the tax collection from such states will be affected.
He also said that increasing the oil royalty will cause a drop in Petronas’s returns.
Dividends from the state oil firm currently account for over 40 per cent of the federal government’s revenue.
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Posted by Wata
October 28, 2012
Dateline 2012-10-03:
After years of dispute, the Kelantan government is one step closer to resolving the long-standing oil royalty issue after the Federal Court today finally allowed the PAS-led state to ask state oil firm Petronas crucial questions on points of law related to its demand for payment.
A five-man Bench led by Court of Appeal President Tan Sri Md Raus Shariff awarded leave to Kelantan this morning as neither Petronas nor the federal government objected to the application.
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Posted by Wata
October 26, 2012
Dateline 2012-09-26:
Six Sabahan businessmen filed a suit at the High Court here, Tuesday, seeking to declare the Petroleum Agreement between the Sabah State Government and Petroliam Nasional Berhad (Petronas) signed on June 14, 1976 ultra vires as well as null and void.
Lahirul Latigu (first plaintiff), Mohd Julpikar Ab Mijan (second plaintiff), Zainal Ajamain (third plaintiff), Joseph Wilfred (fourth plaintiff), Duli @ Dullie Mari @ Marie (fifth plaintiff) and Michael Peter Govind @ Mike Govind (sixth plaintiff) named Petroliam Nasional Berhad as the first defendant and the Sabah State Government as the second defendant.
The businessmen were also seeking a declaration that the Petroleum Development Act, in so far as it applies to the agreement dated June 14, 1976 between the first defendant and the second defendant is ultra vires null and void.
They are claiming for damages to be assessed, cost plus statutory interest and other relief deemed fit by the High Court.
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Posted by Wata
October 16, 2012
Suspicious, really? Noooooo…
Dateline 2012-09-22:
A coalition of pressure groups plans to hand the prime minister a petition over the Kelantan oil royalty issue carrying 150,000 signatures on October 3, the news portal Harakahdaily reported yesterday.
Early last month, Putrajaya set up a panel to resolve the long-standing issue that is expected to be a major campaign point for the PAS-led Kelantan state government in the coming general election.
The Kelantan government had previously been suspicious about the Najib administration’s forming of the oil royalty panel so close to the polls and asked for it to finish the probe in three months instead of the earlier planned six months.
On October 3, a convoy lead by the coalition calling itself “Royalti” will converge at the Federal Court in Putrajaya to pledge their support for a fair distribution of oil royalty to Kelantan.
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Posted by Wata
October 9, 2012
Dateline 2012-09-17:
Recently it was announced that the Umno-led government would form a special commission to review oil royaties to the east coast states.
Two issues struck me – the Terengganu ‘sham’, and two, how did Pahang end up as an oil state?
Terengganu has received its payment on the quiet side. The money is vested in the hands of the local kingpin and Terengganu Menteri Besar, Ahmad Said.
So the inclusion of Terengganu is just window dressing, a ‘sham’.
When Idris Jusoh was MB, the federal government insulted the Terengganu people imputing they don’t know how to manage the oil money by allowing ‘Patrick Lim’ to decide where the money should be applied.
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Posted by Wata
Wata - Malaysian Oil and Gas Engineer 