Landmark Deal on PETRONAS-Petros Issues to be inked soon
Law and institutional reform minister Azalina Othman Said reaffirmed that Petronas’s rights over Malaysia’s oil and gas resources, including in Sarawak, remain safeguarded under the Petroleum Development Act 1974 (PDA). She said Petronas retains “exclusive privileges to explore, exploit, obtain, and acquire petroleum” nationwide. Responding to concerns about Sarawak’s claims via state-owned Petros, Azalina noted Petronas has signed collaboration agreements with both Sabah and Sarawak, creating varying ownership and profit structures due to state policies, equity participation, and industry conditions.
Quotes:
“Petronas is vested with the ownership of petroleum… as provided for under the Act.”
“The implementation and outcomes might vary depending on the oil and gas industry landscape.”
Read More News on Latest Malaysia
Read More News on Business News Malaysia
Read More News on SG Business News
Read More News on World Future TV
Private markets remain resilient but face mounting pressure from higher rates, weak exits, concentrated AI…
Fomca urges government transparency on Budget 2026 cuts, warning healthcare reductions could harm patients, staff,…
PETRONAS and ENEOS renew LNG partnership, securing 10% stake in MLNG Tiga to strengthen energy…
UAE exits OPEC+, weakening spare capacity control and signaling shift toward capacity-driven competition, raising volatility…
Dunlop launches EV-ready tyres under Toyotsu Binter, strengthening Malaysian presence with new products, dealer expansion,…
The FOMC maintained that US economic activity continued to expand at a “solid” pace. Growth…
This website uses cookies.