Petronas has made RM15.6bil cash payments to Sabah since 1976

  • Nation
  • Wednesday, 04 Dec 2019

KUALA LUMPUR: Sabah has received about RM15.6bil in cash payments from Petroliam Nasional Bhd (Petronas) for petroleum and gas extracted in the state from 1976 up till Dec 31 last year, says Deputy Economic Affairs Minister Dr Mohd Radzi Md Jidin.

The figure is based on the 5% payment of gross petroleum production which is channelled by Petronas to the Sabah state government in February and August each year, he said.

Radzi added that detailed information about the amount of gross petroleum production is included along with the cash payment report to the state's Finance Ministry.

“All petroleum production in Malaysia is done through the production sharing contracts (PSCs) with investors.

“Based on the PSC agreement, the overall gross income for each PSC is subject to a non-disclosure clause stating that it should not be publicly revealed, ” he told the Dewan Rakyat on Wednesday (Dec 4).

Radzi was responding to a question by Jonathan Yasin (PH-Ranau), who asked the Economic Affairs Ministry to state the overall gross income obtained by Petronas since it began operations in Sabah in 1976.

Datuk Jeffrey Kitingan (STAR-Keningau) subsequently asked Radzi to state the figures for Sabah’s petrol output in terms of barrels per day.

In response, Radzi said an average of 358,000 barrels a day was produced in 2018, followed by 424,000 barrels per day in 2017, and 338,00 barrels per day in 2016.

Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 1
Cxense type: free
User access status: 3
Join our Telegram channel to get our Evening Alerts and breaking news highlights

Next In Nation

Man aged 77 goes missing in Klang
Man dies in fall from 10th floor of flat in Butterworth
The Star is top English-language M'sian news portal in brand trust scores, says Reuters Institute
KJ hits back at critics of mixed-type vaccination
Sabah announces SOP for Aidiladha
Taxis, e-hailing vehicles can cross districts and states if passengers have approvals
Sabah increases efforts to prevent rabies following outbreak at neighbouring Sarawak district
Investigate allegations of Covid-19 vaccines sold to private groups, says MMA
Puncak Niaga's suit against Khalid Ibrahim will proceed for full trial
Covid-19: 24 new clusters, including 15 workplace outbreaks

Stories You'll Enjoy