Hornbill Unleashed

November 14, 2013

Let’s unite to support dam blockades in Sarawak

Kua Kia Soong

If the income generated by the dams is below what is predicted, we will have to step in and pay back the loans that were provided to Sarawak Energy Berhad.

What have the blockades by the Sarawak indigenous people against the mega dams to do with West Malaysian tax payers?

Aside from solidarity with the indigenous peoples whose native customary lands have been taken over for the construction of the mega dams and the destruction of more of our rainforest heritage, there is plenty for Malaysian tax payers to worry about. (more…)

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June 12, 2013

Top BN Crony Secretly Secures Sarawak Oil Fields!

Sarawak Report

“one of the largest acreages in Malaysia” – the region off Sarawak being explored by Ananda Krishnan’s Pexco

In a shocking departure from normal practice one of BN’s top business cronies, Ananda Krishnan, has secured direct control of a series of Sarawak’s off-shore oil fields.

It makes his private company Pexco “one of the largest acreage holders in Malaysia”, according to its own CEO.

The astonishing development has placed the multi-billionaire (known for his close relationship with the former PM Mahathir Mohamad) in an unprecedented position to sub-contract to major oil companies. (more…)

January 21, 2013

PKR Sarawak demands transparency over oil and gas.

Baru Bian

Sarawak PKR Chairman Baru Bian today demanded transparency over the management of oil and gas deposits found in the State of Sarawak and pledged that under PR all profits would be placed in a transparent Trust Fund for the people of Sarawak to help develop the state.

Recent explorations have found on-shore oil and gas reserves potentially worth billions of ringgit and experts now expect that much more oil is likely to be found beneath the landmass of Sarawak. As the law stands permits for the extraction of any on-shore resources are under the legal control of Sarawak. So the State is fully entitled to demand the lion’s share of the royalty for onshore oil and gas, particularly as 95% of its off-shore oil has gone straight to PETRONAS for the past 3 decades. (more…)

October 21, 2012

Canada blocks Petronas’ bid for Progress Energy

Filed under: Human rights,Politics — Hornbill Unleashed @ 5:55 AM
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– Reuters

Canada blocked Malaysian state oil company Petronas’ C$5.17 billion ($5.22 billion) bid for gas producer Progress Energy Resources Corp on Friday, a surprise ruling that could have implications for a much bigger offer by China’s state-owned CNOOC for oil producer Nexen Inc.

“I can confirm that I have sent a notice letter to Petronas indicating that I am not satisfied that the proposed investment is likely to be of net benefit to Canada,” Christian Paradis, Canada’s minister of industry, said in a late-night statement.

Petronas has up to 30 days to make additional representations that could make its deal more palatable. Petronas said it was not ready to make any comment. (more…)

October 6, 2012

‘Najib switches Petronas’ investment to benefit cronies’

Kuek Ser Kuang Keng

Transparency lackingSince Najib Abdul Razak took over the premiership in 2009, the national oil and gas company Petronas has been instructed to move its overseas investment into the domestic market to benefit his cronies and prop up economic growth, claimed PKR director of strategy Rafizi Ramli.

Describing it as a “shortcut to benefit cronies”, Rafizi  said this has disrupted Petronas’ strategy which has been in place for the past 20 years to build up Malaysian international oil reserves to ensure sustainable petroleum income for the nation.

Being an oil producer with strong international oil reserves, he explained, would enable Malaysia to take advantage of the trading margin which could be leveraged to lower our fuel prices. (more…)

A Rapid white elephant in the making?

Filed under: Human rights,Politics — Hornbill Unleashed @ 12:00 AM
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Leven Woon

The RM60-billion oil refinery is meant to cater for China and India’s market, but PKR warns that such a stratergy can prove to be a costly gamble.

PKR warns that the RM60 billion Petronas Refinery and Petrochemical Integrated Development (Rapid) in Pengerang, Johor, may be a white elephant once it becomes operational in 2016.

Party trade and investment bureau head Wong Chen said this was because the refinery was export-driven and largely dependent on China and India’s demands.

Quoting Petronas downstream business vice-president Wan Zulkiflee’s statement in December 2011, Wong said the state-owned oil corporation had acknowledged difficulty in downstream-related businesses but was optimistic towards Rapid due to the robust growth in China and India. (more…)

October 3, 2012

The politics of oil money

S.H. Tan

Aren’t agreements and contracts sacred these days? Umno Youth chief Khairy Jamaluddin spoke in Parliament yesterday that demands for higher royalty payments to oil-producing states will cut tax collection and profit for national oil company Petronas.

In my mind, Khairy is a brilliant young politician but his statement on royalty payments is puzzling, to say the least.

“We understand demands from states such as Kelantan but we have to think of the financial implications when we talk about increasing royalty,” the Rembau MP said in Parliament, according to The Malaysian Insider. (more…)

September 30, 2012

Protest begins against Petronas’ RM60b Pengerang project

Clara Chooi

Over a thousand protesters have squeezed into the tiny Kampung Sungai Rengit square in Pengerang to protest Petronas’ RAPID project.

The sleepy hollow of Kampung Sungai Rengit came alive this morning with animated chants and blares from portable air horns as green-clad protesters streamed in by the bus loads to rally against a RM60 billion petrochemical project that will see thousands of villagers lose their homes and livelihoods.

The highly-anticipated Himpunan Hijau Pengerang Lestari protest kicked off peacefully to a bright and early start despite earlier fears of possible police blockades to prevent protesters from attending the mass rally. (more…)

October 27, 2011

Petronas will make Mokhzani RM400m richer

Mohd Ariff Sabri Aziz

In Malaysia’s elite business circles, the big boys don’t understand the conventional wisdom of ‘competition’.

Competition in Malaysian business lexicon means NO competition for the big boys. The feeding frenzy and free-for-all fight is actually only among the smaller boys.

It’s the smaller boys who fight it out for a smaller portion of the business.

Petronas, it appears, has departed from its current practice of handing out jobs to only licensed players in certain segments such as oil and gas equipment makers and offshore support vessel operators.

Licensed players are those who are registered with Petronas and have fulfilled certain strict requirements as demanded by the oil company. (more…)

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