Keep Sapura’s huge oil reserves out of foreign hands, says Najib

May 9, 2022

Yeah, gomen, listen to your Glorious Leader. Maybe MOGEC or MOGSC should take over ownership. Or MTEM.

Dateline 2021-04-02, FMT:

Former prime minister Najib Razak insists that the government offer a loan guarantee to Sapura Energy Bhd in order to save its oil reserves from falling into foreign hands before its full potential can be realised.

He said the company’s subsidiary, Sapura OMV, owned oil and gas reserves of 264 million barrels with a gross value of RM110.8 billion.

If the subsidiary is put up for sale, as is being speculated, Sapura’s joint venture partner OMV of Austria, would likely be the first choice buyer as it already holds a 50% stake in Sapura OMV with the remaining 50% held by Sapura Energy.

MTEM calls Petronas CEO names for purported mistreatment of Dr M

February 23, 2014

I missed the ranting and name-calling.

Dateline 2014-01-09, The Malay Mail:

In an expletive-ridden rant today, the Malay Economic Action Council (MTEM) castigated Petronas chief Tan Sri Shamsul Azhar Abas over the alleged mistreatment of the state oil firm’s former adviser Tun Dr Mahathir Mohamad.

The Malay business lobby group later retracted part of their emotional descriptions of Shamsul in a news conference, but related allegations of high-handed action against the former prime minister within 24 hours of Dr Mahathir’s departure from the Petronas office here last month.

“Is this how a national oil company treat a man who was very instrumental at turning Petronas into a Fortune 500 company and equipped with undeniable contribution in his 27 years and to date tenure?

Petronas’ responsibility to ensure local company participation, says Malay economic group

February 22, 2014

Dateline 2014-01-09, the Malaysian Insider:

National oil and gas firm Petronas has the responsibility to offer contracts to qualified local companies, the Malay Economic Action Council (MTEM) said.

Tired of Petronas’ repeated explanation that contracts were only handed out to international firms when there are no qualified local corporations, MTEM disputed the firm’s excuse and asked the oil giant to fulfil its duty as per its objective.

“It is Petronas’ responsibility under the Petroleum Development Act 1974 to give help to the local oil and gas industry,” said MTEM chief executive officer Mohd Nizam Mashar today.
Disappointed with Petronas president Tan Sri Dato’ Shamsul Azhar Abbas’ inaction to spur the development of local companies, Mohd Nizam said the firm’s chief had only appointed three firms for the Vendor Development Programme (VDP) during his tenure in office.

Why Malaysia’s Malay business lobby is obsessed with Petronas

January 28, 2014

Dateline 2014-01-11, The Malay Mail:

As chief of Malaysia’s sole Fortune 500 company which accounts for nearly a quarter of the country’s revenue, Petronas chief Tan Sri Shamsul Azhar Abas has drawn his fair share of critics, though none appear as focused and vehement as the Malay Economic Action Council (MTEM).

In an interview this week, MTEM chief executive explained that the Malay business lobby group was no racial hardliner that had a personal vendetta against Shamsul’s merit-driven leadership, but was merely frustrated with the oil-and-gas giant’s seeming indifference to criticism, especially from the country’s Malay-Bumiputera stakeholders.

“For us, Petronas is not a (Bumiputera) issue, it’s a Malaysian development issue,” Nizam Mahshar told The Malay Mail Online.

Is Petronas abandoning bumi vendors or are bumi vendors ASKING FOR TOO MUCH?

January 12, 2014

Dateline 2013-11-18, The Malaysia Chronicle:

Despite the denials from none other than the Petronas CEO, allegations that the national oil company has been side-lining Bumiputera companies continue to take media limelight.

That MTEM’s accusation of Petronas neglecting local vendors when dishing out contracts and failing to carry out its responsibility to contribute to the growth of Bumiputera entrepreneurs is arguably perceived negatively by many.

This writer is fully conscious of this political backdrop and of the fact that Pakatan Rakyat (PR) leaders and lawmakers have criticised Tun Dr Mahathir Mohamad who recently told the state oil firm to embrace the pro-Bumiputera New Economic Policy (NEP) and to be more Malay-friendly.

This writing however, attempts to highlight the precarious situation Petronas finds itself in, much to the chagrin of the Advisor perhaps. More importantly and outrightly, this short piece is in fact seeking for a clarification from Petronas’ leadership of the actual state of affairs especially in regard to the Vendor Development Programme.

Polisi baru PETRONAS sisih syarikat bumiputera?

March 17, 2013

You can translate yourself. Who IS the advisor on these matters? If the guy asks for a cup of coffee when discussing the points of attack, she’s been overpaid. Me, I am open, and will charge you hourly rates with an invoice.

From Harakah Daily, dateline 2013-02-03:

Teras Pengupayaan Melayu (Teras) mendesak kerajaan agar polisi baru yang berkaitan dengan anugerah tender yang kini berjalan di bawah Presiden dan CEO Petronas Tan Sri Shamsul Azhar Abbas disemak semula.

Presidennya, Mohd Azmi Abdul Hamid berkata, walaupun CEO Petronas  tersebut ada menyatakan mahu melakukan reformasi besar dalam pengurusan Petronas, namun perubahan polisi yang menyisihkan syarikat tempatan dan syarikat bumiputera bukanlah perubahan yang dapat diterima.

“Berdasarkan perkembangan terkini yang melibatkan penganugerahan konsesi Petronas kepada syarikat asing, peranan Petronas untuk meningkatkan penyertaan syarikat bumiputera dalam industri minyak dan gas kini terjejas,” ujarnya dalam satu kenyataan.

Kenyataan beliau selanjutnya seperti di bawah.

MTEM mahu Presiden Petronas diganti

March 16, 2013

You can translate yourself.

From Utusan, dateline 2013-02-03:

Sebanyak 47 pertubuhan bukan kerajaan (NGO) ekonomi Melayu mahu Presiden dan Ketua Pegawai Eksekutif Petroliam Nasional Bhd. (Petronas), Tan Sri Shamsul Azhar Abbas meletak jawatan daripada menerajui syarikat khazanah yang menjadi ikon negara ini.

Kesemua NGO yang bergabung di bawah Majlis Tindakan Ekonomi Melayu (MTEM) mendakwa Petronas di bawah kepimpinan Shamsul Azhar gagal menjalankan tanggungjawab dan matlamat penubuhan iaitu meningkatkan ekonomi usahawan bumiputera, khususnya dalam bidang minyak dan gas.

Pengerusi MTEM, Datuk Syed Ali Mohamed Alattas mendakwa, antara punca utama syarikat nadi negara itu gagal dalam penubuhannya kerana lebih mengutamakan syarikat asing yang sebahagiannya tidak mempunyai lesen Petronas seperti termaktub dalam undang-undang.

PETRONAS in a Dilemma

March 15, 2013

Really? Why doesn’t MTEM come round and get me to give a press statement?

1-2013-02-14 13.29.46

For those of you who missed the hoo ha, and want to get some biased background, visit here and here.