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Petronas maintains it owns all petroleum resources in Malaysia

MALAYSIA-OIL-ENERGY-PETRONAS

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Written by Syndicated News

KUALA LUMPUR, July 3 2018 : Petronas maintains that it has exclusive ownership of the petroleum resources in Malaysia and is the sole regulator of the upstream sector in the country.

In a statement yesterday, the national oil and gas (O&G) company said the announcement was made in response to the O&G-related statement issued by the Sarawak Chief Minister’s Office on July 1, 2018.

It was reported that the state government said it had begun exercising its power under the state laws relating to O&G activities in Sarawak yesterday, including through the Gas Distribution Ordinance 2016, which also came into force on the same day.

“Regulations made under the ordinance on licensing have been approved by the state government and the process of implementing it will commence immediately,” it said.

Moving forward, Petronas said it would closely monitor the situation, including seeking views and guidance from the government, which is the sole shareholder of the company, in carrying out their duties. – Bernama

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