Petroliam Nasional Bhd (Petronas) generic photo. Petronas flag blowing in the wind next to the Malaysian and Federal Territories flags at a Petronas station in Kuala Lumpur, seen in July 2015. (Pic taken by Hafidz Mahpar for Star Online.)
KUALA LUMPUR: National oil company Petroliam Nasional Bhd (Petronas) is expected to pay RM13bil in dividend to the Government next year, RM3bil less compared with the contribution in 2016.
Second Finance Minister Datuk Johari Abdul Ghani said the estimation was based on the Brent crude oil price assumption of US$45 per barrel.
In 2015, Petronas paid RM29bil in dividend to the government.
“Even if the prices go up to between US$50 and US$70 per barrel, we still have to discipline ourselves by spending at the assumption price of US$45 (a barrel) and keep aside the difference as reserves,” he told reporters after the tabling of the 2017 Budget by Prime Minister Datuk Seri Najib Tun Razak in Kuala Lumpur on Friday.
Johari said overall, the proposed budget was a comprehensive plan covering all aspects of the economy, which reflects the Government’s strong commitment towards the betterment of the people.
“This is not an easy budget given the challenging economic situation at home and globally, particularly when the Government is set to lose RM3 billion in petroleum revenue.
“So, it’s crucial for the Government to identify projects that will benefit the people and our economy,” he added. - Bernama
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