Lim to Najib: Explain ‘massive’ oil find

Free Malaysia Today

KOTA KINABALU: DAP Parliamentary leader Lim Kit Siang wants the government to disclose full details of an alleged new oilfield discovered by national oil company Petronas.

“I call on the PM Datuk Seri Najib (Razak) to make a ministerial statement in parliament tomorrow (today) on this very important subject, the biggest oil find in the Malaysian history and the role of Petronas because Petronas is now contributing about 42 per cent to the country’s revenue,” he told reporters here yesterday.

Lim was commenting on Gua Musang MP Tengku Razaleigh Hamzah’s statement on Saturday that he had been told of the discovery of a new oilfield by Petronas, which could be the biggest oilfield in the world.

“I have heard about this but up to now the government has not made any announcement. I think this should not be kept under-wraps.

“Malaysians have a right to know as it will mean that the future of Malaysia will be cast in a different light.

“It is (also) very important in view of the ongoing controversy over oil royalty for the oil-producing states in Malaysia.

“The government would have gone bankrupt without the oil money and there must be proper accountability on how this Petronas money is being spent.

“There must be a total review of the whole question of Petronas, the oil royalty and the question of the oil find,” he said.

Lim reiterated Pakatan Rakyat’s (PR) call for the review and increase of the 5 per cent oil royalty for Sabah to 20 percent, so that the state government would have more money to develop the State.

Last Friday PR kicked off a nationwide road-show, led by Kelantan senior executive councillor Husam Musa and Tengku Razaleigh to explain the controversial oil royalty issue.

Husam said the road-show will seek a referendum on PR’s proposal to give oil-producing states — Sabah, Sarawak, Kelantan and Terengganu — 15 percent of oil royalties when it comes into federal power.

He said the decision to include Sabah and Sarawak in the referendum was in recognition of the goodwill and understanding that dated back to Sarawak’s first oil find.

“At the beginning, Sarawak was to have received 12 percent in oil royalties. But because Petronas was still a fledgling company at the time, a compromise was struck.

“Petronas agreed to give both Sabah and Sarawak five percent in royalties. The aim was to help Petronas consolidate its financials. But this goodwill gesture was eventually buried,” Husam reportedly said.

  1. #1 by johnnypok on Monday, 22 March 2010 - 9:59 am

    Sabah should retain 90% and only give KL 5%

    Sarawak is entitled to 95% and donate 5% to KL as “Wang Eshan”

  2. #2 by yhsiew on Monday, 22 March 2010 - 11:27 am

    KL should give Sabah and Sarawak 30% oil royalty consecutively for 10 years as a compensation for neglecting the two states for four decades. After 10 years, KL may reduce the oil royalty to minimum 15%.

  3. #3 by frankyapp on Monday, 22 March 2010 - 12:29 pm

    I think the whole petroleum contract between Sabah/Sarawak and the federal government (petronas) should be reviewed. The majority of the people in all the oil producing states are not happy with the present deal,hence it justifies a review. I think in a new deal,Sabah and Sarawak should be made significant share holders in Petronas.

  4. #4 by king cobra on Monday, 22 March 2010 - 12:42 pm

    Uncle Kit ,

    if i’m not mistaken it was previously reported that if Pakatan comes to power , East Malaysia will get 20% of oil royalty instead of 15%……

  5. #5 by k1980 on Monday, 22 March 2010 - 1:15 pm

    Wang ehsan of RM10/= a year to the state govt where the new oilfield is found.

  6. #6 by pulau_sibu on Monday, 22 March 2010 - 2:35 pm

    Even a country like Israel is more democratic than boleh. In Israel, the road signs and names are given in Hebrew, Arabic and English. Look at us, no Chinese is allowed although our percentage of Chinese population is higher than that of Arabs in Israel.

    UMNO should let themselves visit Israel and not remain closed door, in order to learn how their worst enemy is better than them.

  7. #7 by dagen on Monday, 22 March 2010 - 4:27 pm

    Largest oilfield in the world found? Its a curse man. We will be cursed big time if this is true. Because americans will be here on our soil. The very corrupt and highly suppressive and extremely abusive and murderous umno regime will be a good enough reason for the americans to come in the name of UN and freedom.

  8. #8 by ENDANGERED HORNBILL on Monday, 22 March 2010 - 9:11 pm

    UMNO is behaving like PETRONAS belongs to UMNOputras!

    BN must lose this next General election or else Malaysia will perish with the dogs.

  9. #9 by lopez on Monday, 22 March 2010 - 9:45 pm

    habis lah like this, but i dont think so that it so simple

    it is not unusual that our bag_emas cannot do it, considering what type of people we have….in paper only that they are qualified.

    Biggest reserve and others dont know about it…my foot….CNN would have already sound it all over.
    Some people are willing to die for it and you brag that it is yours..go suck an egg
    and kept dreaming

  10. #10 by tanjong8 on Monday, 22 March 2010 - 10:47 pm

    Eunuch was Chengho in ancient China.

    Where is the eunuch ? Covered in oil ?

  11. #11 by waterfrontcoolie on Monday, 22 March 2010 - 11:23 pm

    If it is true, then it is a CURSE to the nation. The desire to hold onto this wealth will make many even more desperate. In Norway, the revenue from their oil resources is beeing invested and kept for the future; here there is no time wasted even to sell in advance! 20/30 years down the road, when the black gold is consumed, we will see many Zimbabwes in this world. How on earth could a nation rely up to 42% of its expenditures on a diminishing asset? Of course, to those still holding onto the power, the discovery, if for real can only mean more hoarding to be done. They will curse the Western powers but it will be there they send the hoards.

  12. #12 by raven77 on Tuesday, 23 March 2010 - 3:25 am

    All Malaysians should hold the next mass protest In Kota Bahru and insist that these Federal UMNO lanuns return the oil money that is being stolen off Kelantan….A economically powerful Kelantan will be the death knell of UMNO and gang…

  13. #13 by undertaker888 on Tuesday, 23 March 2010 - 7:58 am

    in unison, all of us must vote this [email protected] govt out. Is it a wonder this mamak is still sitting over in petronas tower? He is keeping an eye on this cash cow for his own benefits in the name of ketuanan, race and religion.

    This is all ketuanan is about. Easy cash access by the umnoputras without questions. This is what the frogs ibrahim, mamak and perkosa is all about. Easy cash access.

  14. #14 by dagen on Tuesday, 23 March 2010 - 8:24 am

    Is that so? The massive oil field find? This time make very sure umnoputras are not around to squander our treasure.

  15. #15 by frankyapp on Tuesday, 23 March 2010 - 12:13 pm

    Do you guys think Umnoputras would want to lose power now that Petronas has found the largest oil discovery in the world ? With new wealth,they would now double or treble the amount to buy political frog to stay in power.In addition,naive voters would get ten times more if they vote for BN in the 13th GE.BN candidates would also give spot grant/cash and material to native chief and village head to improve the kampong. Umno/BN would also subsidize to lower the petrol price,essential food items,transportation and public utilities such as water and electricity to attracting the common people to vote for them. What can PR do in contrast to BN,say if it’s true BN would offer such attraction to the voters in general during the 13th GE ?

  16. #16 by frankyapp on Tuesday, 23 March 2010 - 12:29 pm

    If it’s the truth,petronas’s new found wealth would be conveniently used by Umnoputras to further subsidize to lower the petrol,essential food items,public transportation,utility such as water and electricity etc etc to attracting the common voters comes the 13th GE. Under such scenario,what can PR offer in contrast to convince the voters ?

  17. #17 by king cobra on Wednesday, 24 March 2010 - 5:51 pm

    New treasure discovered in Sabah , then Sabahans should get to keep 100% of it ,

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