‘Give us back 50 sen on every oil-derived ringgit’

Queville To 

Sabah oil and gas contractors are proposing that an institution be set up to protect the industry in the state.

KOTA KINABALU: The Sabah Oil and Gas Contractors Association (Sogca) wants Sabahans to look beyond the 5% oil royalty which the state is currently receiving from Petronas and instead seek at least half of every ringgit that is made from its oil and gas exports.

Now it’s ‘high-stakes contract’ grabs in Sabah

Queville To

Sabah oil and gas contractors association claim foreign companies are targeting the industry and hampering the growth of local firms.

KOTA KINABALU: There is a new phenomenon in Sabah – high stakes contract grabs. After enduring land grabs by major plantation companies and jobs taken away by hundreds of thousands of illegal immigrants in Sabah that has strangled local productivity, the state is now experiencing another level of ‘attack’.

Time for truth about Proton be known

The government’s stake in Proton is again up for sale but will there be a suitable suitor?


Their myopic opposition has seen several billion ringgit from Petronas, where Mahathir is also advisor, thrown into the bottomless Proton pit. This is money mostly from Sabah and Sarawak where each state get a measly 5 per cent royalty from the wells in the inner waters and none from the outer waters where the bulk of the production is carried out.

Double blow for ‘dirt-poor’ Sabahans

Queville To

The discovery of oil and gas in Sabah has not brought home the wealth the state deserved, says an assemblywoman.

KOTA KINABALU: It is unfair that Sabah is getting pinched both ways – first by the cabotage policy which has forced the people to pay more goods that are cheaper in the peninsula and then receiving pittance from its own mineral wealth, the State Legislative Assembly was told today .

MACC raids Petronas offices

KUALA LUMPUR - Petronas confirmed today that the Malaysian Anti-Corruption Commission (MACC) had visited its offices but denied that it was a raid or that files had been taken by the graft-busting agency.

The Malaysian Insider reported this morning that anti-graft officials raided the national oil giant in the past weeks after receiving tip-offs of alleged corruption by project consultants working on exploration and production efforts.

License freeze, Sabah O&G contractors in the cold

FMT

It's ironic that Petronas' RM45 billion O&G project in Sabah may not have local contractors' participation.

KOTA KINABALU: National oil company, Petronas’ decision to put a freeze on upstream oil and gas industry license renewals and registrations will basically block Sabah O&G contractors from competing for its RM45 billion mega project contracts.

Petronas, shrouded in mystery and secrecy!

Hundreds of billions 'hijacked' from Petronas: Why is Najib keeping silent?

Petronas is one of those mighty companies that are destined to turn in a profit every other year. It has total monopoly over all petroleum activities in Malaysia and suffice to say, Malaysia has benefitted since its incorporation via the Petroleum Development Act 1974.

Yet it is also a company shrouded in mystery. It is 100% state-owned and there is no intention, as yet, to privatise it. Thus, all profits are retained by the state, which in this case is Malaysia. But is that really the case?

Malaysia oil & gas: Go big or go home

Analysts think it makes strategic sense if firms join hands to add value to their portfolio.

KUALA LUMPUR: The US$4 billion merger of two of Malaysia’s larger oil and gas firms, Kencana and SapuraCrest, sent a clear message to their local rivals: size matters.

Small oil and gas services companies dot the Malaysian market and analysts think it makes strategic sense if firms join hands to add value to their portfolio.

‘Sabah must get more from new oil finds’

Queville To

With the new oil and gas finds in Sabah, it is imperative that the deal with Petronas is revisited, says Jeffrey Kitingan.

KOTA KINABALU: Jeffrey Kitingan today claimed that state Barisan Nasional leaders stopped making a fuss about the meagre oil royalties from Petronas once their ‘associates’ had been awarded lucrative contracts by the national oil company.

37 years now and it's high time for review

KOTA KINABALU, July 6, 2011: The government is urged to review the Petroleum Development Act 1974 so that Sabah and Sarawak can maximize benefits from oil and gas exploration, exploitation and downstream industries in Malaysia with greater transparency, according to Datuk Chua Soon Bui, member of parliament for Tawau who said this in her adjournment speech during parliament.

Sabah, Sarawak may lose oil, gas forever

Luke Rintod

The two states have already experienced '100%' loss of their natural resources under the Umno-controlled Petronas, according to UBF.

KOTA KINABALU: Sabah and Sarawak will lose their oil and gas resources “forever” if the Petroleum Act 1974 is not amended, United Borneo Front (UBF) leader, Jeffrey Kitingan, said.

Petronas profit rises while...

Petronas profits while people suffers from fuel hikes and price hikes around the country!!!

It was reported that oil prices and larger volume of sales lifted Petroliam Nasional Bhd's (Petronas) full-year profit more than a third to RM63bil from RM45.5bil a year earlier. The national oil company said dividend payments to the Government would likely be 30% of the company's future net profit instead of a flat RM30bil annual payment.

Petronas will be increasing its capital expenditure and plans to invest RM300bil over the next five years in growing oil and gas production and reserves. Petronas' capital investments last year amounted to RM34.9bil.

Petronas urea plant should be in Kimanis

There are two issues that the State Government and the people of Sabah must confront Petronas.

One, the issue of ron-participation of Sabah contiactors at Kimanis SOGT.

Two, the proposed establishment of an urea plant at Sipitang.

The issue of Sabah contractors, particularly Bumiputeras not given any works by Petronas speaks for itself. Everything is from West Malaysia.

Contractors call for Petroleum Act Review

KOTA KINABALU: The Sabah Oil and Gas Contractors Association (SOGCA) has called on the Government to review the Petroleum Act I974.

SOGCA president, Datuk Iskandar Malik, suggested that the members of parliament, especially those from Sabah, hold a dialogue with us and to let us know what is happening on the ground as this is the time for the people ofSabah to look to Parliament for a review of the Petroleum Act 1974.

Petronas found wanting in global transparency study

Kuek Ser Kuang Keng

The national oil and gas company Petronas has scored below average in an international study on revenue transparency and public disclosure, which covered 44 oil and gas companies worldwide.

According to the 2011 Report on Promoting Revenue Transparency in Oil & Gas companies, published today by Transparency International (TI) and Revenue Watch Institute (RWI), Petronas performed badly in all three key sections.

These are 'Reporting on Anti-Corruption Programme', 'Organisational Disclosure' and 'Country-Level Disclosure for International Operations'.

Petronas' respective scores were 30, 38 and zero percent, compared with the average scores of 43, 65 and 16 percent.