Petronas told to be serious and fast in oil royalty negotiation

SEBUYAU: Petronas is urged to be ‘serious and fast’ with the negotiation regarding the increased oil royalty to the state.

Assistant Minister for Industrial Development (Investment and Promotion) Datuk Julaihi Narawi said the state was aware of the decrease in oil prices but there were ways how Petronas could meet the state’s demand.

“The negotiation between Petronas and the state government should be treated seriously and must be done fast. We know that the oil prices is already down but there are several ways to do it (meeting the state’s demand),” he said after presenting ‘zakat’ to 100 members of Samarahan Area Farmers Orgnaisation (AFO) at Dewan Pembangunan Sebuyau, on Friday.

Julaihi, who is also Assistant Minister for Rural Economy (Coastal Areas) and Fisheries, added that the state should be given ‘reasonable’ quota in the oil and gas industry to generate more downstream activities.

He said there should be a ‘win-win’ situation in the equity participation to bring revenue to the state for its development purposes.

Last Wednesday, Barisan Nasional Backbenchers Club (BNBBC) chairman Abdullah Saidol, said Petrones should show a more convincing level of seriousness when treating Sarawak’s demand.

He said the national petroleum corporation should treat the ongoing negotiation between the state government and Petronas with earnest and respect.

Chief Minister Datuk Amar Abang Johari Tun Openg, also said on Thursday that the state government would continue to pursue the 20 per cent oil royalty.