The decisions Petronas has made for the past decades has been justified by its recent profit record. And only an experienced “oil-man” such as Tan Sri Hassan Merican knows how to weight risks and channel its revenues and into investments that will bring more profit to the company (and the goverment) in the future.

Petronas should be left on its own to grow and mature into a top oil and gas company like Shell, Exxon, etc without any political interference, and its returns to the goverment should be managed well.

It does not need to be transparently monitored in where its revenue are going to be invested or used. Making its account more transparent would be useless. A decade ago, we might have not agreed with Petronas’s decision to invest billions in Africa, but look how well that decision proved to be by the overseas revenues achieved. This is because of the work of proper risk analysis and decision making by experience people in the oil industry.

So why should Petronas’s account be anymore transparent. There is no added value. Would a more transparent account be more questionable? if so what questions do you want to ask?

howbout asking yourselves:-

1. If Petronas’s accounts were more transparent, would these billion dollar revenue decisions be made without being heavily questioned/disputed with political input/interest?

2. If Petronas’s was answerable to the Parliament, who do you think would have decided on Petronas’s course; the experienced people managing the company, or the politicians who know “nuts” about the oil industry.

Just let Petronas evolve to a private oil and gas company that is still own by the goverment, whoever that turns out to be ….but let it remain unpoliticised. The biggest company in Malaysia, should not be put under the spectacle of politics……

Just hold your breath. The university in Tronoh is a new one. Give it several years to produce the much needed talents .

As for Transparency, do tell me whether deep down in your heart, you believe that it can be listed among the biggest entities in the world for nothing .

As for milduser, plese proof what you said. If you said it is wrong for Govt to tax Petronas, please explain why.

It would be very entertaining to see when and what university in tronoh has done for all malaysians.

Yes Sir. The price of oil is cheaper in Saudsi Arabia or Venezuela. By the way, I am sure you know how much Saudi Arabia produces daily?

Approximately 9.5 million barrels daily. Malaysia produces 700000 daily. Domestic consumption is around 600000 barrels. Suddenly, I notice those who barely know anything about Petronas lashing the entity.

A scapegoat I can say for sure. If there is a mismanagement in Petronas, please explain how Petronas can be listed among 500 biggest companies in the world.

Someons said I maybe Kasim Amat. No I am not. But I admire that man for at least trying to defend Petronas, UMNO from baseless accusation from bloggers here. I am amused to see those who know nothing about oil industry or Petronas speak as if UMNO is milking Petronas for its own benefit.

Cant you believe that. I cant believe that people can be at that moronic level.

By the way, yes sir I am defending UMNO. What is wrong with that. Surely there is nothing wrong in defending UMNO if the accusation is ridiculous.

As for Lopez, perhaps you should try to remember at leat once that Petronas contributes to every Malaysian. Do remember that in its breathtaking university in Tronoh, Malaysians of all races study petroleum engineering.

Give some credit man. And for those who imply that Petronas is less than transparent, well prove it.

The safety valve will return part of the petrol back to the sump. Is this true?

Also if you pump full tank, you are transporting petrol around town!

http://shiokguy.blogspot.com/2008/06/do-not-pump-full-tank-of-petrol.html

Shiok Guy

rainbowseahorse
personally i dont think corruption is rife in Petronas. Why? One person, the late Tan Sri Azizan, former President and Chairman of Petronas. If you knew him he was man of highest integrity. Due to this trait, he managed, steered and envisioned Petronas to the strive to always embody this stature. Uphold the integrity because without it you/your company would buckle, cease to be competitive.

If you do have accounts of any top brass going askew, you can lodge a report with Police or Hassan Marican. I can assure you your report will be treated with highest priority, at least within Petonas. I am not saying there is no corruption in Petronas but I’d like to think it’s not as high as people think there is. Like I said, the proof in hand is Petronas position within Fortune500 survey. Had corruption been rife in here, you can be sure we will not have this position. We would have crumbled a la Perwaja dulu lagi…

cheers

As long the reply is, it by a pro-petronas again…

cheers…