Thanks to 1MDB, Petronas now enjoys huge reserves, says Najib

December 25, 2018

There you go.

Dateline 2018-11-06, FMT:

Days after two former ministers blamed 1MDB for Barisan Nasional’s defeat in the May 9 polls, Najib Razak has defended the state investment arm and says it indirectly helped Petronas increase its reserves.

In a Facebook post, the former prime minister said that for 15 years up to 2012, the national petroleum company was forced to subsidise gas that it supplied to independent power producers (IPP).

This led to Petronas incurring losses of over RM10 billion every year.

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Don’t plunder Petronas, Najib tells Pakatan government

July 6, 2018

Avast there, maties! BTW, when does Datuk Seri get his Tun?

Dateline 2018-05-31, The Star:

Former prime minister Datuk Seri Najib Tun Razak (pic) has urged the new government not to plunder funds from Petronas for bailouts.

“I urged the new government to continue to give sufficient space and capital to Petronas to fulfil their vision and not to plunder funds from Petronas or through bail-out missions as what was done during the 22 years of Tun Dr Mahathir Mohamad’s previous administration,” he said on his Facebook post on Thursday (May 31).

Najib noted the new Pakatan Harapan government recently stated that the shortfall in revenue due to the abolishment of the Goods and Services Tax (GST) would be made up by Petronas, Khazanah, and Bank Negara Malaysia by making higher dividend payments to the government.

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Oil & gas companies to promote use of natural gas

July 4, 2017

Dateline 2017-05-09, Borneo Post:

Oil & gas companies can help promote the use of natural gas, together with renewable energy as the cleaner fuel option to sustain economic growth, Prime Minister Datuk Seri Najib Tun Razak said.

He said now is the right time to encourage the adoption of natural gas in new markets as prices have become attractive, aided by the right investment in infrastructure.

“I am hopeful that companies and governments can form ‘smart’ partnerships to unlock the full potential of natural gas as a viable option, which makes both commercial and environmental sense.

“It is important that we see these two motives as supporting one another, not being in opposition,”  he said in his keynote address at the 19th Asia Oil and Gas Conference yesterday.

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Malaysia risked transformation to reduce oil dependence, says Najib

April 21, 2017

Dateline 2017-03-06, The Star:

Deliberate efforts taken by the government under its Economic Transformation Programme (ETP) have reduced reliance on petroleum-related income to 14% today from up to 41% in 2009, says Prime Minister Datuk Seri Najib Tun Razak.

“Had we not made the transformation that we risked, we would have been suffering today from great difficulties because of the sharp and sudden decline in oil prices which would have affected the government’s revenues that depend on it to a large extent,” he said.

Najib, who is also Finance Minister, said this during a recent interview with Al Arabiya News Channel’s General Manager Turki Aldakhil.

He was asked about the recipe for success in achieving Malaysia’s experience as some countries have been describing Malaysia as a successful example of good governance and development.

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PM: I was once a junior executive in Petronas

October 27, 2016

Dateline 2016-09-16, Malay Mail:

Prime Minister Datuk Seri Najib Tun Razak today spoke on his experience working as a junior executive with national oil corporation Petronas after his tertiary education.

He said at the time, Petronas had just started operations in 1974 under a very different environment and generation.

A foreign multi-national company had become dominant in oil and gas exploitation in the country then, he said.

“This was so much so that Miri was even referred to as the Shell town,” he said when addressing some 1,000 Petronas employees at a special Malaysia Day gathering at the Bintulu Civic centre here.

He said, however, the country’s leaders like his late father Tun Abdul Razak who was then the prime minister and others decided to change this.

“The nation had achieved its political independence and they then decided to go for its economic independence.

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Former Malaysia PM Abdullah Badawi replaces Mahathir as adviser to state oil giant Petronas

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.

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PM: We’ll consider Sarawak’s request for higher oil, gas royalties

July 22, 2014

Dateline 2014-06-22, The Rakyat Post (huh?)

The federal government will give utmost consideration to Sarawak’s request for higher oil and gas royalties, said Datuk Seri Najib Razak.

The Prime Minister said the federal government had no qualms in negotiating on any matters with the state government over its interests.

“The federal government will give utmost consideration to this matter (request for higher oil and gas royalties),” he said at the Malaysia Gawai Dayak Open House 2014 at Dataran Kipas here tonight.

Sarawak Yang Dipertua Negeri Tun Abdul Taib Mahmud and Chief Minister Tan Sri Adenan Satem were present.

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AOGC 2013: Malaysia setting up to become regional energy hub – Prime Minister

July 5, 2013

Dateline 2013-06-09, Platts:

Malaysia has set itself a key strategic objective of becoming a regional energy hub, Prime Minister Najib Razak said Monday.

Speaking at the opening ceremony of the 17th Asia Oil and Gas Conference in Kuala Lumpur, Najib said the energy sector plays a pivotal role in the Malaysian economy with oil and gas contributing to more than 40% of the country’s national income.

Najib said that Malaysia has halted a decline in its domestic production with 24 new discoveries made in 2012 alone. Malaysia produced 1.69 million b/d of oil equivalent in the first quarter of 2013, up 3% from 1.64 million boe/d in Q1 2012.

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Malaysia Pushes Joint Development to Solve Asia Sea Disputes

June 22, 2013

Dateline 2013-06-03, Business Week:

Malaysian Prime Minister Najib Razak called for claimants in the South China Sea to jointly develop resources to avoid conflict and prevent “extra-regional states” from becoming involved.

Najib cited a joint development zone in waters claimed by Thailand and Malaysia as a precedent that could be applied in the South China Sea. Vietnam and the Philippines reject China’s map as a basis for joint development in the waters, part of which are also claimed by Malaysia, Brunei and Taiwan.

“Agreeing to share prosperity, rather than let it divide us, is infinitely preferable to the alternative,” Najib said in a speech yesterday in Kuala Lumpur.

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PM: PETRONAS’ tender decision entirely its own

April 25, 2013

Does this mean that before this, the decision to award tenders was the PM’s?

From the Malaysian Chronicle, dateline 2013-04-03:

Decisions on tender awards for upstream and downstream activities in the oil and gas sector are left in Petronas’ (Petroliam Nasional Bhd) hands, said Prime Minister Datuk Seri Najib Razak.

The government does not want to have a say in the decision-making process.

“A few months ago, I decided that all the tenders be decided by the board’s wisdom … I don’t want to make the decision,” Najib said during a townhall session with Petronas staff yesterday.

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