Home > News > Nation
Monday August 11, 2014 MYT 12:00:00 AM
Monday August 11, 2014 MYT 7:23:29 AM
by ruben sario
KOTA KINABALU: Sabah hopes to get a stake in the profitable operations of Petronas, says Chief Minister Datuk Seri Musa Aman.
This was among the ways the state could earn more from the oil and gas resources harvested from Sabah’s offshore, he added.
Musa said this was a more viable alternative compared to asking for an increase in its share of oil royalties from the Federal Government.
“We are asking for a 25% stake in Petronas Sabah Urea Amonia (Samur) project in Sipitang,” he said when opening the Kota Kinabalu Umno meeting here yesterday.
“That equity will eventually translate into billions of ringgit in revenue for the state,” he added.
He said the Sabah government was also keen on seeing more local firms participate in the oil and gas industry.
“It is not necessary for us to rely on collecting revenues but instead become key players in activities like offshore exploration activities,” Musa added.
Sabah felt that it was better to hold talks with Putrajaya and come up with a win-win solution, he said.
In this regard, he said there was also growing acceptance here of Datuk Seri Najib Tun Razak’s statement that a formula would be worked out to address the call to increase oil royalties for Sabah.
The Prime Minister said the Government, together with Petronas, would decide on various methods to improve Sabah’s economy, adding that the national petroleum company would increase its corporate social responsibility (CSR) programmes in Sabah.
Najib explained that there were many approaches which could be applied to it, but not necessarily increase the percentage of oil royalties, as mooted by the Opposition.
Najib said Petronas would, among others, help more rural students, provide more scholarships and increase its funding in its CSR programmes here.
Tags / Keywords:
Government, sabah, petronas, datuk seri musa aman, oil
Plantation manager found burnt to death in car in Semporna district
Esscom: No brute force against illegal immigrants
Petronas to end gasoil storage at Tanjung Langsat
Sun bear Natalie begins new life
Home Ministry: Ban on book about ex-Sabah minister stays
Anwar’s prior criminal cases cannot be raised in defamation suit
Ex-model to be admitted to Hospital Bahagia
Dream big, youths told
Trainee pilot makes lucky escape
Ex-model given 'til noon to appear in court or face arrest warrant
Have a 'whale' of a good time in Queensland
MATTA launches GST navigator
Stop allowing motorcycles on elevated highway, say motorists
New Zealand to vote for challenger Ali in FIFA election
Copyright © 1995-2015 Star Media Group Berhad (ROC 10894D)(Formerly known as Star Publications (Malaysia) Berhad)