PDA 1974 should be rejected as revenue derived from O&G to S’wak is insufficient – Rayong

October 16, 2020

Dateline 2020-09-13, Borneo Post:

The Petroleum Development Act 1974 (PDA 1974) should be rejected as the revenue derived from oil and gas (O&G) resources to the state was considerably insufficient, said Parti Sarawak Bersatu (PSB) Youth chief Dr Johnical Rayong Ngipa.

“We assessed the annual sale value of oil and gas resources from Sarawak at normal time could reach at least RM70 billion, almost exceeding 30 per cent of the total annual operating revenue of Petroliam Nasional Berhad (Petronas),” said Rayong during a PSB seminar on Malaysia Agreement 1963, PDA 1974 and Native Customary Rights land at a restaurant in Crown Square here today.

Rayong pointed out the state only received about RM3 to RM3.5 billion in its five per cent annual royalty from oil and gas resources and another RM3 billion from the five per cent state sales tax imposed on petroleum products in 2019.

‘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.”