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IT ought to be one of the country's greatest paradoxes - that oil and gas rich state Terengganu is one of the country's poorest states. And the main culprit is without a doubt the political wrangling over the state's major lifeline - oil royalties - and the cloak of uncertainty over its disbursement and utilisation.
PETALING JAYA: In a move seen as a challenge to Sarawak’s claim over petroleum ownership, Petroliam Nasional Bhd (Petronas) has gone to court to declare that, under the Petroleum Development Act 1974 (PDA), it is the exclusive owner of oil and gas resources in Malaysia.s
Ongoing tussle over O&G rights seen as a dampener
PETALING JAYA: The Sarawak state government is going ahead with plans to set up its own oil exploration company called Petroleum Sarawak (Petros), which will be wholly owned by the state, despite the low oil price environment.
Standard Chartered Bank (StanChart) expects Bank Negara to cut its key interest rate, or overnight policy rate (OPR), by 25 basis points in the third quarter of next year.
Standard Chartered Bank expects the Malaysian overnight policy rate (OPR) to be cut in the second half of 2007 if the inflation rate is below 3%.
THE tenure of Petroliam Nasional Bhd (Petronas) president and CEO Tan Sri Wan Zulkiflee Wan Ariffin has been interesting, to say the least, ever since he took on the job in April 2015.
KUALA TERENGGANU: The government is committed to ensuring that Petroliam Nasional Bhd (Petronas) is able to return to profitability, but it depends on world oil prices.