Sarawak minister says state won’t buy Petronas assets

February 11, 2020

Dateline 2019-12-14, Malay Mail:

The Sarawak government will not consider buying stakes in Petroliam Nasional Berhad’s (Petronas) assets in the state’s territorial waters, Law, State-Relations and Projects Monitoring Assistant Minister Datuk Sharifah Hasidah Sayeed Aman Ghazali said last night.

She said there is nothing to be happy about with the offer mentioned by Prime Minister Tun Dr Mahathir Mohamad that the federal government intended to sell stakes in Petronas to Sarawak and Sabah.

Govt aims for 20% renewable energy use by 2025

February 10, 2020

Vision 20/25 anyone?

Dateline 2019-12-14, The Sun:

Malaysia remains committed to addressing the climate change in line with the Paris Agreement and Climate Change Convention as the government is seeking to increase the country’s target of renewable energy generation to 20% by 2025.

The commitment was stated by Energy, Science, Technology, Environment and Climate Change Deputy Minister, Isnaraissah Munirah Majilis (pix), who represented Malaysia at the High-Level Segment in the 25th Conference of Parties to the United Nations Framework Convention on Climate Change (UNFCCC COP25), from Dec 10 to 12 in Madrid, Spain.

At the conference, Isnaraissah Munirah mentioned that Malaysia had developed policies, regulatory and financial ecosystems respectively, to foster a green economy and low-carbon sustainable development.

Petronas expects challenging industry outlook in 2020

February 9, 2020

Dateline 2020-12-13, NST:

Petroliam Nasional Bhd expects the oil and gas industry to remain challenging next year amid a backdrop of global economic slowdown, geopolitical upheaval and prolonged trade tensions.

Petronas vice president of group procurement Liza Mustapha said the oil and gas giant maintained a prudent view and would continue to respond cautiously to the unpredictable landscape.

Petronas also encouraged partners to be conscious in managing costs, implement activity levelling to sustain offshore activities and pursue innovative solutions in unlocking value in the supply chain, she said in its Petronas Activity Outlook for 2020-2022.

Private oil and gas firm to build RM9.5 bil refinery in Sabah

February 8, 2020

Interesting, why not just export one from PD?

Dateline 2019-12-13, FMT:

State-owned Sabah Oil and Gas Development Corporation (SOGDC) Sdn Bhd has signed an agreement with a private firm to build Sabah’s first petroleum oil storage and refinery with investments over US$2.3 billion (RM9.5 billion).

The agreement with Petroventure Energy Sdn Bhd will see the plant being built at the Sipitang Oil and Gas Industrial Park (Sogip) in southwest Sabah, with construction expected to take between three and five years.


February 7, 2020

Dateline 2019-12-13, Malaysia Chronicle:

Anger is building up again in the East Malaysian states with Dr Mahathir Mohamad’s statement this week on the oil royalties.

Somehow we get the feeling that we have been led up the garden path by the Pakatan Harapan (PH) government.

Mahathir is now changing his stance and seems to have run out of ideas on how to deal with this sticky issue. His incoherent response to the oil royalties issue is sowing more confusion, creating a wider rift between the federal and state governments.

Mahathir in a Reuters interview said the government is considering selling stakes in Petronas to states where the company’s oil and gas fields are located. It seems odd that the oil-producing states like Sabah and Sarawak are now offered stakes in Petronas to help a debt ridden federal government.

Malaysian state open to buying Petronas stake after Mahathir comment

February 6, 2020

Didn’t 1MDB start out in Terengganu? Just saying.

Dateline 2019-12-11, Reuters:

Malaysia’s Terengganu state said on Wednesday it was open to buying a stake in national energy giant Petronas, after Prime Minister Mahathir Mohamad said he was considering such a sale to raise funds for his heavily-indebted federal government.

Petronas, the world’s third-largest exporter of liquefied natural gas, is one of the biggest sources of revenue for the federal government that has a debt pile of more than 1 trillion ringgit ($239 billion).

Sarawak minister says Petronas asset sale would complicate matters

February 5, 2020

Dateline 2019-12-12, Malay Mail:

A Sarawak minister today warned that existing disputes will become more complicated if Petroliam Nasional Berhad (Petronas) sold assets to oil-producing states such as Sarawak without resolving them.

State Tourism, Arts and Culture Minister Datuk Abdul Karim Rahman Hamzah said such sales should only be decided after ending negotiations on disputes involving the Petroleum Development Act 1974 (PDA) and the Territorial Sea Act 2012 (TSA).

“We are still having doubts on the legitimacy of the PDA which empowers Petronas the rights over oil and resources found within the territorial waters of Sarawak and Sabah,” he told reporters after receiving High Court, Court of Appeal and Federal Court gowns from former Federal Court judge Tan Sri Sulong Matjeraie on behalf of the Sarawak Museum.