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.
July 19, 2018
Dateline 2018-06-07, Malay Mail:
Putrajaya has agreed to pay royalties to all oil-producing states, Terengganu MB Ahmad Samsuri Mokhtar said today.
He said the assurance was given by Prime Minister Tun Dr Mahathir Mohamad during the first National Finance Council meeting under the Pakatan Harapan (PH) government here earlier that was also attended by Deputy Prime Minister Datuk Seri Dr Wan Azizah Wan Ismail and the mentris besar of Kelantan, Perak, and Johor as well as the secretaries-general of ministries.
July 3, 2018
Dateline 2018-05-29, NST:
The Pakatan Harapan (PH) government may not be able to keep subsidising fuel price for too long if global oil price remains above US$70 per barrel, analysts said.
They estimated that based on the current oil price at about US$76 per barrel, the local fuel price at service stations should be about 40 sen higher than what it is now.
For the week just ended, the benchmark Brent crude oil price suffered its first weekly loss of 2.64 per cent after six straight weeks of gains, settling at US$76.44 per barrel.
Over the past seven weeks, the price of RON95 petrol remained at RM2.20 per litre, RON97 at RM2.47 per litre, diesel at RM2.18 per litre and Euro 5 diesel at RM2.28 per litre.
Prime Minister Tun Dr Mahathir Mohamad recently said the government would no longer be using the weekly fuel price adjustments under the managed float system.
November 14, 2017
Dateline 2017-09-26, FMT:
A senior official in the Sarawak Barisan Nasional has criticised Dr Mahathir Mohamad over his comments on the Petroleum Development Act (PDA) and the unfavourable terms it gives to the state.
Tan Kai, who is a political secretary to Chief Minister Abang Johari Tun Openg, called out the Pakatan Harapan chairman over his reasons for not repealing the PDA in his 22-year tenure as prime minister.
“Mahathir could have easily repealed PDA if he thought that it was not fair to Sarawak, as he had a two-thirds majority all the time,” Tan said in a statement yesterday.
Mahathir, who is also PPBM chairman, had reportedly said that his hands were tied as the PDA was drafted and approved before his time as prime minister, hence he could not do anything about the oil royalty and funds to be given to Sarawak.
May 13, 2016
Old news, but hey…
Dateline 2016-03-25, Straits Times:
Former Malaysian Prime Minister Tun Abdullah Ahmad Badawi has been endorsed by the Cabinet as the new adviser to state oil and gas company Petronas, Premier Najib Tun Razak announced on Friday (March 25), replacing another former premier Tun Dr Mahathir Mohamad whose services were terminated earlier this month.
Tun Abdullah’s appointment is effective April 1, Malaysia media reported.
“The decision to terminate the appointment of Tun Dr Mahathir Mohamad was made by the Cabinet since he was no longer supporting the present government, especially with the launch of ‘Deklarasi Rakyat’ (Citizen’s Declaration) together with opposition leaders,” Najib said in a statement reported by state news agency Bernama.
May 1, 2016
In case you have been asleep the past month.
Dateline 2016-03-11, Reuters:
Former Malaysian premier Mahathir Mohamad post as advisor to the national oil and gas firm Petronas has been terminated, a statement from the Prime Minister’s office said on Friday.
“The Cabinet decided that, since Tun Mahathir is no longer supporting the current Government, he should no longer hold any position related to the Government,” the statement said.
Mahathir joined hands with several opposition leaders last week to sign a “Citizen’s Declaration”, calling for Prime Minister Najib Razak’s resignation.
Mahathir, Malaysia’s longest serving Prime Minister, took on an advisory role at Petronas after stepping down in 2003.
May 11, 2012
Been there. And what’s this ‘soon become a rich state’? I thought it already was.
A petroleum engineering faculty will be set up soon in Universiti Malaysia Sabah (UMS).
Former prime minister Tun Dr Mahathir Mohamad said it was about time that UMS established a new faculty focusing on oil and gas as Sabah would soon become a rich state because of its natural resources.
With the setting up of the petroleum engineering faculty, Dr Mahathir was confident that Sabah would benefit from its oil resources.