GE13: PM - Opposition pledge to increase Sabah’s oil royalty will kill off interest in developing petroleum industry

BEAUFORT: The opposition's promise of increasing Sabah's oil royalty from the present 5% to 20% will kill off interest in developing the offshore petroleum industry, Datuk Seri Najib Tun Razak said.

The Prime Minister said under the current arrangement, petroleum companies continue to tap into marginal fields that would eventually spell increased revenue for Sabah.