The ConocoPhillips withdrawal from Sarawak in question
ConocoPhillips withdrew from the RM13.7 billion Salam-Patawali deepwater oil project in Sarawak, citing a “country strategy review,” though industry sources point to regulatory uncertainty from the Petronas-Sarawak dispute. Batu Kitang assemblyperson Lo Khere Chiang sees this as an opportunity for Sarawak to assert greater control via Petroleum Sarawak Berhad (Petros). He suggests a 50:50 profit-sharing model with Petros, allocating 5% to the federal government. Lo remains optimistic, stating Sarawak’s open investment climate will attract new investors if ConocoPhillips does not return.
“The door to future investment in Sarawak is not closed. It could very well remain open for ConocoPhillips to re-engage, this time with Sarawak represented by Petros and on terms that are fairer for Sarawak.” – Lo Khere Chian.
Read More News on Business News Malaysia
Read More News on Business News Malaysia
Weststar Aviation Services signed a RM2 billion financing deal with AmBank to double its helicopter…
Industry players urge the government to create inclusive automotive incentives supporting the entire supply chain…
Kerjaya Prospek wins RM98.8m Seremban hospital job, boosting order book to RM4.3bn with strong earnings…
Trump’s war update drives Brent crude to USD109; strategic buy positions in oil and commodity…
The U.S. labor market rebounded in March with nonfarm payrolls rising +178K, the strongest gain…
YTL POWER (BUY Maintained, TP:RM3.72) Data centres are gaining traction
This website uses cookies.