PETRONAS, XRG, Hazarnebit and Turkmennebit Partner On Strategic Gas Asset In Turkmenistan
Under the terms of the PSC, PETRONAS will hold 57% participating interest as the operator, partnering with XRG (38%), with State Enterprise Hazarnebit holding the remaining 5%.
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Borneo Post
a day ago
- Borneo Post
Sarawak's O&G rights indisputable, says Pujut rep
Yii says Sarawak's rights in this sector are not federal concessions, but legacy entitlements grounded in the state's legal and historical foundations. MIRI (Aug 16): Pujut assemblyman Adam Yii has reaffirmed that Sarawak's control over its oil and gas resources is rooted in historical fact, legal rights and state dignity, stressing that the Petroleum Development Act 1974 (PDA) cannot override Sarawak's own oil laws. In a statement, Yii has expressed firm support for Senator Ahmad Ibrahim's assertion that the PDA does not supersede the Oil Mining Ordinance 1958 (OMO), which remains valid and enforceable in Sarawak. According to the Miri Mayor, Sarawak's rights in this sector are not federal concessions, but legacy entitlements grounded in the state's legal and historical foundations. 'Sarawak began oil extractions in Miri in 1910, decades before Malaysia was formed in 1963. 'The OMO, enacted by the British colonial administration, remains in force and is protected under Section 73 of the Malaysia Act 1963.' Yii added that any attempt to disregard or downplay these rights would constitute a serious affront to Sarawak's sovereignty. Yii described as 'highly misleading' a recent statement in Parliament by the Minister in the Prime Minister's Department for Law and Institutional Reform, who claimed that Petronas' powers under the PDA extended to Sarawak 'Such statements risk creating public misunderstanding and falsely suggest that Sarawak has compromised its longstanding position,' he said. Yii highlighted Sarawak's significant progress in asserting its rights through legislative and legal means. In 2016, the Sarawak government passed the Distribution of Gas Ordinance (DGO), officially recognising Petroleum Sarawak Berhad (Petros) as the sole gas aggregator in the state. In 2020, the High Court ruled in favour of Sarawak's right to impose a sales tax on petroleum products, forcing Petronas to pay outstanding dues to the state. 'These were not acts of generosity from the federal government. They were rights that Sarawak fought for and won through the courts and legislative reforms,' stressed Yii. He also called upon all political parties and leaders in Sarawak to adopt a united stance in defending the state's rights, and to reject any attempts to undermine it. 'This matter is not merely economic, but one of dignity, legal autonomy, and the spirit enshrined in the Malaysia Agreement 1963 (MA63), which forms the basis of Sarawak's participation in the Malaysian federation. 'SUPP will never yield. We will continue to defend Sarawak's rights at the negotiating table, in Parliament, and in the court of public opinion. 'Sarawak's oil and gas resources belong to Sarawakians. That is an indisputable historical fact and a right protected by law.' adam yii lead MA63 oil and gas OMO PDA
Borneo Post
a day ago
- Borneo Post
Fadillah: Only business negotiations left in Petronas–Petros Gas deal
Fadillah fields questions from reporters at the event. – Photo by Chimon Upon KUCHING (Aug 16): Commercial negotiations between Petronas and Petroleum Sarawak Berhad (Petros) are still ongoing and are expected to be concluded soon, although no specific timeframe has been set. Deputy Prime Minister Dato Sri Fadillah Yusof said the basis of agreement had already been established through a joint declaration between the federal government and the Sarawak government. 'The declaration has already been made (finalised) in which the Prime Minister and the Sarawak Premier clearly agreed that federal and state laws must go hand in hand. 'The Federation cannot disregard Sarawak laws, and likewise, Sarawak cannot disregard federal laws. So that has already been agreed upon in the declaration,' he said when met after officiating the MySalam 3K (Finance, Health and Welfare) Petra Jaya programme at the Kampung Samariang Batu Community Hall here today. He was responding to a statement by Minister in the Prime Minister's Department (Law and Institutional Reform) Datuk Seri Azalina Othman Said in Parliament on Friday, who said that Petronas and Petros have yet to finalise the terms and mechanisms for implementing the joint declaration on gas distribution, even though nearly three months have passed since it was signed. Azalina reportedly said both parties were still discussing details of the cooperation framework based on agreed principles, in line with commercial considerations. Fadillah further explained that what remains unresolved are only the administrative and commercial negotiations between Petronas and Petros. 'The declaration is already there. What has yet to be finalised are the business negotiations between Petronas and Petros. These are still ongoing, and that is the current situation. 'So yes, they are still negotiating,' he said. Fadillah stressed that although no timeline has been set, the government hopes the negotiations can be concluded quickly to facilitate investment and business operations both offshore and onshore. 'That is what we want to expedite because it will make it easier for industry players to carry out their daily activities,' he said. Prime Minister Datuk Seri Anwar Ibrahim and Sarawak Premier Datuk Patinggi Tan Sri Abang Johari Abang Openg signed the Joint Declaration on May 21, which formed the basis for establishing a cooperation framework between Petronas and Petros. The declaration also outlined key principles of alignment, such as ensuring all Federal and Sarawak State laws related to gas distribution within Sarawak coexist and are respected by all parties engaged in such activities in the state. In addition, the declaration stated that Petronas will continue to carry out its roles and responsibilities as provided under the Petroleum Development Act 1974 (Act 144). Petros, meanwhile, has been appointed as the gas aggregator for Sarawak's domestic market effective March 1, 2025, and this appointment will be respected by all industry players involved in gas distribution and supply to domestic consumers. As for the liquefied natural gas (LNG) business, Petronas will continue its role and responsibilities across the entire upstream value chain through to the sale of LNG to international markets, and all existing agreements or arrangements between Petronas and/or its subsidiaries with third parties for LNG sales (from upstream to export) will remain intact and in force. Meanwhile, in his speech, Fadillah said the Petra Jaya 3K Carnival 2025 was an important platform to engage with the people, listen to their voices, and share information on various government initiatives in a direct, open, and inclusive manner. This approach, he said, was in line with the Madani spirit which emphasises well-being, justice, and inclusiveness. According to him, the government has always focused on the lower-income (B40) group who are more vulnerable to the pressures of the cost of living. 'In line with this, various assistance programmes have been implemented to ease the burden and improve the well-being of the people. Among them are the Rahmah Cash Contribution (STR), Cost of Living Aid (BSH), PeKa B40, the People's Housing Project (PPR), and the Rahmah Basic Contribution (SARA). 'In fact, one important initiative I wish to highlight today is mySalam, a free health protection scheme for the B40 group which provides financial assistance and hospital treatment for critical illnesses,' he said. For the record, he added, mySalam has so far assisted more than 1.74 million Malaysians, including in Sarawak, with claim payouts exceeding RM1.25 billion. fadillah yusof negotiation oil and gas Petronas Petros
The Sun
3 days ago
- The Sun
Petronas ownership stays federal, states gain participation
KUALA LUMPUR: The ownership of Petroliam Nasional Bhd (Petronas) remains with the federal government, although steps were taken to enhance the participation of states through strategic collaboration platforms, joint project implementation, and involvement in the value chain, said Minister in the Prime Minister's Department (Law and Institutional Reform) Datuk Seri Azalina Othman Said. Azalina said the federal government's approach is aligned with an inclusive federal structure and ensures sustained benefits for all parties. The minister said that the federal government is currently the sole owner of Petronas, which is incorporated under the Companies Act 1965 as the national oil and gas company. 'The Petroleum Development Act 1974 (Act 144) entrusts Petronas with ownership of petroleum, along with the exclusive rights, powers, freedoms, and privileges to explore, manage, and develop the country's petroleum resources, whether onshore, offshore, or in Malaysian waters,' she said in a response posted on the Parliament's website today. Azalina was responding to Datuk Seri Dr Jeffrey Kitingan (GRS-Keningau), who asked whether the government could consider distributing 50 per cent shares in Petronas to oil- and gas-producing territories and states, namely Sarawak, Sabah, Terengganu, and Kelantan. According to Jeffrey, the distribution is a fundamental step to strengthen the Malaysian Federation moving forward, while easing politicisation and dissatisfaction over oil and gas rights. Azalina said that although the ownership of Petronas is under the federal government, the current approach allows producing states to receive direct benefits from the petroleum industry through cash payments and various forms of commercial cooperation. 'At the same time, overall revenues from the sector are fairly distributed across the country in line with national development needs,' she added. - Bernama
