Petronas
Posted by Dr. Mahathir Mohamad at June 24, 2008 7:32 AM
Certain members of Parliament are focusing on Petronas, apparently trying to divert attention from Government over the thoughtless increase in oil prices. If I am not mistaken this is a prelude to appointing a 4th floor candidate as head of Petronas as they did when removing Tengku Mahaleel of Proton.
There is also an attempt to blame me for "advising" the Government on removing the subsidy. I would like to clarify again that although I am called Adviser to Petronas, I do not advise at all, least of all to the Government.
Once in a while I get a briefing from Tan Sri Hassan Marican, the President of Petronas. I also get the annual report which is available to the public. My main job is that of a post box. I pass on to Tan Sri Hassan numerous requests and proposals which people send to me. I have absolutely no say in the decisions made by Petronas.
Continue reading Petronas.
Showing posts with label hassan marican. Show all posts
Showing posts with label hassan marican. Show all posts
Tuesday, June 24, 2008
Wednesday, June 18, 2008
Opinion: On managing and allocating subsidies
New Straits Times, Malaysia - 4 hours ago
By : SANTHA OORJITHAM
Malaysian consumers have many unanswered questions about fuel subsidies. It's time to explain how pump prices are set, experts tell SANTHA OORJITHAM.
"MALAYSIA is exporting crude oil. If the oil price goes up, don't our exports earn more and can't that subsidise pump prices?" asks a college professor in Kuala Lumpur.Saudi Arabia is lowering oil prices, claimed DAP's Teratai state assemblywoman Jenice Lee after a protest earlier this month. "How come we are not able to do it?"Many don't understand how the Automatic Pricing Mechanism for petrol works and why petrol and diesel prices rose 41 per cent earlier this month.While economists agree that the pump price had to be raised, they note that the public was not adequately prepared for the hike - even though petrol prices have risen steadily since 2000 and subsidies have been adjusted yearly since they were introduced in 2004 for petrol and 2000 for diesel (see chart).
Yes, we export crude petroleum, says the president and chief executive officer of Petronas, Tan Sri Hassan Marican. In 2007, Malaysia extracted about 600,000 barrels per day, of which 339,000 barrels per day were refined here. The remainder was exported unprocessed, making us a net exporter of crude.
On the other hand, notes Minister for Domestic Trade and Consumer Affairs Datuk Shahrir Samad, Malaysia is a net importer of refined petrol. ... click for more: Opinion: On managing and allocating subsidiesNew Straits Times, Malaysia
BERITADARIGUNUNG: Cuba menghayati bila Shahrir berdepan bukan hantu buatan, tetapi "the real down to earth scenario and crisis". And this is going to be a lot bigger than the cracks at Samy vellu bridge Shahrir shown not with fingers but his big mouth. Fight is not academic dear Shahrir, but it is real and blood letting.......
By : SANTHA OORJITHAM
Malaysian consumers have many unanswered questions about fuel subsidies. It's time to explain how pump prices are set, experts tell SANTHA OORJITHAM.
"MALAYSIA is exporting crude oil. If the oil price goes up, don't our exports earn more and can't that subsidise pump prices?" asks a college professor in Kuala Lumpur.Saudi Arabia is lowering oil prices, claimed DAP's Teratai state assemblywoman Jenice Lee after a protest earlier this month. "How come we are not able to do it?"Many don't understand how the Automatic Pricing Mechanism for petrol works and why petrol and diesel prices rose 41 per cent earlier this month.While economists agree that the pump price had to be raised, they note that the public was not adequately prepared for the hike - even though petrol prices have risen steadily since 2000 and subsidies have been adjusted yearly since they were introduced in 2004 for petrol and 2000 for diesel (see chart).
Yes, we export crude petroleum, says the president and chief executive officer of Petronas, Tan Sri Hassan Marican. In 2007, Malaysia extracted about 600,000 barrels per day, of which 339,000 barrels per day were refined here. The remainder was exported unprocessed, making us a net exporter of crude.
On the other hand, notes Minister for Domestic Trade and Consumer Affairs Datuk Shahrir Samad, Malaysia is a net importer of refined petrol. ... click for more: Opinion: On managing and allocating subsidiesNew Straits Times, Malaysia
BERITADARIGUNUNG: Cuba menghayati bila Shahrir berdepan bukan hantu buatan, tetapi "the real down to earth scenario and crisis". And this is going to be a lot bigger than the cracks at Samy vellu bridge Shahrir shown not with fingers but his big mouth. Fight is not academic dear Shahrir, but it is real and blood letting.......
Malaysia's Petronas hits back at mismanagement charges
6 hours ago
KUALA LUMPUR, Malaysia (AFP) — Malaysia's state energy firm Petronas has fought back against allegations of mismanagement and secrecy, saying some of its profits have been used for investment and exploration.
Petronas has faced public wrath since a recent 41 percent petrol price hike, with the opposition demanding it open its accounts and explain how vast revenues from the nation's oil exports have been spent.
The chief minister of Penang state, Lim Guan Eng, this week accused Petronas bosses of "living like kings" and wasting money on sponsorship deals, private jets and luxury cars.
Petronas president Hassan Marican said in a television interview late Tuesday that "the high petrol price is a global problem" and not the fault of the energy giant.
He said Petronas used part of its profits for investment and to develop and explore new oil fields.
"If that is not done, we will not get the revenue in future, and we also have to remember that Petronas has been entrusted by the government and we have to think of the coming generation," he said. Click here for more: Malaysia's Petronas hits back at mismanagement charges AFP
KUALA LUMPUR, Malaysia (AFP) — Malaysia's state energy firm Petronas has fought back against allegations of mismanagement and secrecy, saying some of its profits have been used for investment and exploration.
Petronas has faced public wrath since a recent 41 percent petrol price hike, with the opposition demanding it open its accounts and explain how vast revenues from the nation's oil exports have been spent.
The chief minister of Penang state, Lim Guan Eng, this week accused Petronas bosses of "living like kings" and wasting money on sponsorship deals, private jets and luxury cars.
Petronas president Hassan Marican said in a television interview late Tuesday that "the high petrol price is a global problem" and not the fault of the energy giant.
He said Petronas used part of its profits for investment and to develop and explore new oil fields.
"If that is not done, we will not get the revenue in future, and we also have to remember that Petronas has been entrusted by the government and we have to think of the coming generation," he said. Click here for more: Malaysia's Petronas hits back at mismanagement charges AFP
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