The Cash Cow that is PETRONAS

Last week I attended a lecture – The Political Framework of Malaysian Politics – by Tan Sri Dato’ Dr. Nordin Kardi, the Vice Chancellor of Universiti Utara Malaysia. He touched briefly on PETRONAS and the above is one of his slides. In response to a question by one of the audience who inquired why PETRONAS is not giving a lot of money back to the oil states (such as Sabah and Kelantan) since they are making a lot of money, he replied that although the giant corporation is making a lot of money, the income from Malaysian oil is only a part of the total revenue of PETRONAS. He added that PETRONAS have oil businesses in foreign countries such as Sudan, Russia and Nigeria.

I think the more pertinent question is: Since the Malaysian government is the sole shareholder of PETRONAS, why is the giant conglomerate contributing by just paying taxes only?

Advertisements

2 thoughts on “The Cash Cow that is PETRONAS

  1. pls check your facts, petronas pays dividend, royalty, export duty and tax to the government. ask the government la how it spend the money!

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s