Don’t be too happy about 20% royalty yet, says PBS

October 12, 2018

Dateline 2018-07-21, FMT:

An official of Parti Bersatu Sabah (PBS) has advised oil-producing states to be cautious about the announcement of 20% petroleum royalty to be disbursed by the federal government.

Christopher Mandut, acting head of PBS Youth, told FMT that the payment might not amount to as much as everyone believed, compared to the 5% cash payment already being made.

Prime Minister Dr Mahathir Mohamad has said that the oil states would be paid 20% of profits derived from petroleum extraction.

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Set deadline for getting 20% oil royalty, says Kitingan

October 11, 2018

Dateline 2018-07-20, FMT:

Opposition Sabah politician Jefferey Kitingan has proposed two dates by which the Pakatan Harapan federal government may honour its manifesto promise of a 20% oil royalty payment to Sabah and other oil-producing states.

Kitingan, president of the local STAR party, suggested Sept 1 or Jan 1 as the date by which oil royalty should be paid, and urged Parti Warisan Sabah, allies of Pakatan Harapan, to push for a firm date.

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Diving Tenggol 2018-07 Pt 2 of 4

October 10, 2018
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Oil royalty or profit-sharing: which will pay more?

October 9, 2018

Dateline 2018-07-21, FMT:

A Borneo daily reported that Prime Minister Dr Mahathir Mohamad has cast doubt over his own announcement in the Dewan Rakyat about the oil royalty issue. The confusion started when Mahathir answered questions from MPs and mentioned oil royalty at the beginning of his answers and later profit sharing in his conclusion.

“Everybody will get 20% of the profit from their area. If their area produces a small amount, then they will have 20% of profit from that area. But it is the profit,” Dr Mahathir told reporters.

East Malaysians rejoiced on hearing “oil royalty” but now it’s “profit-sharing”. There is a big difference between the two and it is important for the respective oil-producing states to seek clarification.

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Set deadline for getting 20% oil royalty, says Kitingan

October 6, 2018

Dateline 2018-07-20, FMT:

Opposition Sabah politician Jefferey Kitingan has proposed two dates by which the Pakatan Harapan federal government may honour its manifesto promise of a 20% oil royalty payment to Sabah and other oil-producing states.

Kitingan, president of the local STAR party, suggested Sept 1 or Jan 1 as the date by which oil royalty should be paid, and urged Parti Warisan Sabah, allies of Pakatan Harapan, to push for a firm date.

However, an activist for states’ rights has questioned whether the federal government would pay royalties or a share of the profits earned by national oil company Petronas.

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Oil royalty or profit-sharing: which will pay more?

October 5, 2018

Depends on who sets the expenditure, eh?

Dateline 2018-07-21, FMT:

A Borneo daily reported that Prime Minister Dr Mahathir Mohamad has cast doubt over his own announcement in the Dewan Rakyat about the oil royalty issue. The confusion started when Mahathir answered questions from MPs and mentioned oil royalty at the beginning of his answers and later profit sharing in his conclusion.

“Everybody will get 20% of the profit from their area. If their area produces a small amount, then they will have 20% of profit from that area. But it is the profit,” Dr Mahathir told reporters.

…

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Pakatan won’t build nuke plants, says minister

October 4, 2018

Why?

Dateline 2018-07-20, Malay Mail:

The Pakatan Harapan (PH) government does not plan to build nuclear power plants or explore nuclear energy, minister Yeo Bee Yin said.

The energy, green technology, science, climate change and environment minister also said the Malaysia Nuclear Power Corporation, the regulatory agency for the nuclear sector under the Prime Minister’s Department, will be closed in the near future.

“Plans for nuclear power plants will be cancelled and some corporations will also be abolished, there’s no difficulty in doing this because the previous government did not sign any contracts for this,” Yeo said in an interview with Malay Mail.

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Diving Tenggol 2018-07 Pt 1 of 4

October 3, 2018
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Malaysia to grant 20% royalty to its oil-producing states

October 2, 2018

Yes, keep an eye on the Queen in this game of numbers.

Dateline 2018-07-19, The Star:

All states that produce oil will receive 20% of profit from the resource, Prime Minister Tun Dr Mahathir Mohamad speaks in parliament.

* Note: Campaign manifesto includes pledge to give 20% royalty to oil-producing Sabah and Sarawak states

* Government’s priority is on cleaning out damage from corruption and efforts to recover missing funds

* Government is committed to carrying out 60 promises and 40 commitments in its campaign manifesto

* Government may not be able to meet its 10 promises for the first 100 days in time – Bloomberg

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‘Seek solution out of court’

October 1, 2018

Dateline 2018-07-18, Borneo Post Online:

Minister of International Trade and E-Commerce Dato Sri Wong Soon Koh waxed philosophical when asking Petroliam Nasional Berhad (Petronas) to consider withdrawing their suit on exclusive ownership of oil and gas resources in Sarawak.

Asking the court to interpret the Petroleum Development Act 1974 (PDA74) without first recognising the supremacy of the Malaysia Agreement 1963 (MA63) is like looking at a leaf on a tree without recognising that, without the roots, there would be no tree and no leaf, Wong said.

“The leaf (like the PDA) is insignificant. The roots give life to the tree just like the Malaysia Agreement gave life to Malaysia.”

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