Policy & Regulation

Petronas refuses to concede ownership of Sarawak resources

Malaysian NOC Petronas has said it is not giving up its exclusive ownership of oil and gas resources in Sarawak
By Staff reporter 3 July 2018 0 31581

Malaysian NOC Petronas has said it is not giving up its exclusive ownership of oil and gas resources in Sarawak after the regional government announced all companies would have to abide by the state’s oil and gas regulations, according to The Borneo Post.

Under the regulations, Petronas must deal only with Sarawak-owned Petros when producing or extracting oil and gas within Sarawak’s boundaries.