00:00An industry insider has cast doubt over whether Putrajaya and Sarawak can resolve their competing
00:07claims to oil and gas.
00:09The source, who requested anonymity, said certain comments emanating from Kuching have
00:14introduced much uncertainty into the deal.
00:17Last week, Prime Minister Anwar Ibrahim told the Dewan Rakyat that the Sarawak government
00:21had reaffirmed the primacy of the Petroleum Development Act 1974, acknowledging Petronas'
00:27exclusive ownership of all oil and gas resources throughout the country.
00:32However, Sarawak Premier Abang Johari Oping said the following day that Sarawak intends
00:37to request the right to explore for gas in areas off its coast and in the continental
00:41shelf.
00:42He also said that although Petronas' existing contracts will continue in force, they must
00:48align with Sarawak's regulatory framework.
00:51The insider told FMT Abang Johari's demand has immediately called into question Petronas'
00:57operations in Sarawak.
00:59If not addressed properly, the matter could have a negative impact on Petronas' finances
01:03moving forward, the insider said.
01:07The insider also pointed to Abang Johari's silence on future collaborations between Sarawak
01:12State-owned oil and gas company Petros and Petronas, despite Anwar calling for both parties
01:17to work closely moving forward.
01:20On Tuesday, Petronas announced a net profit of RM55.1 billion for last year, a sharp 32%
01:27decline compared to the preceding year.
01:30Pan Yujo, FMT News.
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