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KUALA LUMPUR: Sarawak will drop a demand for quadrupling royalties paid by energy giant Petronas but is pushing for production-sharing and other agreements, a key negotiator told Reuters on Wednesday.
KUALA TERENGGANU: The Terengganu state government says it will consider buying a stake in Petroliam Nasional Bhd (Petronas) if it is for a reasonable amount of equity.
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.
KUALA LUMPUR: It is up to the state government to implement the lower property threshold for foreign ownership that was announced in the Budget 2020, Economic Affairs Minister Datuk Seri Mohamed Azmin Ali.
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.
KOTA KINABALU: The Sabah government is expected to begin collecting the five per cent sales tax on petroleum products on or before May 28 for the April sales, Chief Minister Datuk Seri Mohd Shafie Apdal said.
KUALA LUMPUR: Petroliam Nasional Bhd (Petronas), in meeting stakeholders' demand, has contributed almost RM1.2 trillion since 1976 in the spirit of giving out to the society, especially when the country is grappling with the COVID-19 pandemic.
PETALING JAYA: While the reduced volatility in crude oil prices may boost capital expenditure (capex), near-term uncertainties remain in the local oil and gas (O&G) sector, said UOB Kay Hian Research.
KUALA LUMPUR: Sumatec Resources Corp Bhd, which is entitled to only half of the profits from the the Rakushechnoye oil and gas field in Kazakhstan as its designated operator. plans to take full control by buying the concession owner for US$205mil (RM817.95mil).