The Sabah Progressive Party (SAPP) has questioned BN's Kota Belud MP Abdul Rahman Dahlan's logic which Petronas will go bankrupt should a supervision mind a demand for fifteen percent in oil royalties.
SAPP's supreme council member, Peter Marajin, pronounced which if Petronas cannot conduct a operations, after this increase in oil kingship to Sabah, afterwards Abdul Rahman should suggest a inhabitant oil company to presumably tighten shop.
"It would be prudent for Petronas to give back a operation to a Sabah state government. The state supervision would afterwards decide either to conduct a oil attention by itself or endowment it to efficient oil companies like Shell or others.
"After all, after 36 years, Sabahans have not benefited most from their very own oil as well as gas resources. In fact, Sabah has incited in to a poorest state in a country," he pronounced in a statement.
Marajin pronounced it was ludicrous for Petronas to usually protest now about a operating costs as well as non-profitability after 36 years in operation.
It is same to like a father having dinner with his children, saying: "This fish taste awful, discouraging them from even in contact with it, yet eating it all by himself".
He emphasised which oil is a state owned healthy apparatus as well as if it was not profitable, why afterwards did a sovereign supervision saw it fit "to snatch" this important source of income from Sabah in a initial place.
Marajin was commenting upon Abdul Rahman's (right) matter in theBorneo Postyesterday where a sovereign lawmaker, was quoted as ! saying w hich a fifteen percent oil royalty"may lead to Petronas bankruptcy".
Abdul Rahman, pronounced which formed upon a current formula, for each RM100 in income derived from Sabah's oil, 5 percent goes to a state's coffers as well as 5 percent to a sovereign government.
"Approximately 45 percent goes in to recovery cost, as well as a superfluous 45 percent goes to a corner venture's sum profit. In a end, it is as pure as a dawn which Petronas' profit, after bursting income with others as well as after paying taxes, is usually around 16.74 per cent."
"If Petronas is asked to compensate up a fifteen per cent from a distinction margin, this would effectively describe them unable to compensate their overheads, monetary commitments as well as re-investment for destiny income. The finish result would be a monetary blow which might lead to bankruptcy," a BN MP said.
Petronas not transparent
However Marajin claimed which Petronas has never been pure in a operations as well as monetary accounts from 1976 compartment today.
"Why is Petronas so secretive? Since this healthy apparatus belongs to a rakyat of Sabah, a people have each right to know a operations as well as monetary position. Petronas' income is a Sabahans' money.
"Hence, a Petronas' comment contingency be subject to open scrutiny."
He pronounced a usually tiny piece of information which a open has about Petronas' operation is which Sabah produces about a single million barrels of wanton oil per day, out of which 5 percent g! oes to Sa! bah as well as another 5 per cent goes to a sovereign government.
"After deducting operating costs, a net distinction of a superfluous 90 percent of a barrels goes to a sovereign supervision being a sole shareholder as well as beneficiary of Petronas.
Marajin pronounced a rough calculation formed! upon a on top of information showed which Sabah gets 50,000 barrels a day, being a 5 percent which equals rounded off to RM13.7 million a day.
"A year is RM4.97 billion. Now, how most net distinction does a sovereign supervision get out of a superfluous 90 percent or 900,000 barrels a day is anyone's guess.
"Hence, if a sovereign supervision cannot conduct Petronas, give back a operations to a Sabah state government," he reiterated.
Read More @ Source "It would be prudent for Petronas to give back a operation to a Sabah state government. The state supervision would afterwards decide either to conduct a oil attention by itself or endowment it to efficient oil companies like Shell or others.
"After all, after 36 years, Sabahans have not benefited most from their very own oil as well as gas resources. In fact, Sabah has incited in to a poorest state in a country," he pronounced in a statement.
Marajin pronounced it was ludicrous for Petronas to usually protest now about a operating costs as well as non-profitability after 36 years in operation.
It is same to like a father having dinner with his children, saying: "This fish taste awful, discouraging them from even in contact with it, yet eating it all by himself".
He emphasised which oil is a state owned healthy apparatus as well as if it was not profitable, why afterwards did a sovereign supervision saw it fit "to snatch" this important source of income from Sabah in a initial place.Marajin was commenting upon Abdul Rahman's (right) matter in theBorneo Postyesterday where a sovereign lawmaker, was quoted as ! saying w hich a fifteen percent oil royalty"may lead to Petronas bankruptcy".
Abdul Rahman, pronounced which formed upon a current formula, for each RM100 in income derived from Sabah's oil, 5 percent goes to a state's coffers as well as 5 percent to a sovereign government.
"Approximately 45 percent goes in to recovery cost, as well as a superfluous 45 percent goes to a corner venture's sum profit. In a end, it is as pure as a dawn which Petronas' profit, after bursting income with others as well as after paying taxes, is usually around 16.74 per cent."
"If Petronas is asked to compensate up a fifteen per cent from a distinction margin, this would effectively describe them unable to compensate their overheads, monetary commitments as well as re-investment for destiny income. The finish result would be a monetary blow which might lead to bankruptcy," a BN MP said.
Petronas not transparent
However Marajin claimed which Petronas has never been pure in a operations as well as monetary accounts from 1976 compartment today.
"Why is Petronas so secretive? Since this healthy apparatus belongs to a rakyat of Sabah, a people have each right to know a operations as well as monetary position. Petronas' income is a Sabahans' money.
"Hence, a Petronas' comment contingency be subject to open scrutiny."
He pronounced a usually tiny piece of information which a open has about Petronas' operation is which Sabah produces about a single million barrels of wanton oil per day, out of which 5 percent g! oes to Sa! bah as well as another 5 per cent goes to a sovereign government.
"After deducting operating costs, a net distinction of a superfluous 90 percent of a barrels goes to a sovereign supervision being a sole shareholder as well as beneficiary of Petronas.
Marajin pronounced a rough calculation formed! upon a on top of information showed which Sabah gets 50,000 barrels a day, being a 5 percent which equals rounded off to RM13.7 million a day.
"A year is RM4.97 billion. Now, how most net distinction does a sovereign supervision get out of a superfluous 90 percent or 900,000 barrels a day is anyone's guess.
"Hence, if a sovereign supervision cannot conduct Petronas, give back a operations to a Sabah state government," he reiterated.
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