Malaysia politics from both end of the string, ruling and opposition are trying to impose power on PETRONAS as the Malaysian poll is approaching. The opposition led by Anwar Ibrahim is asking for change of PETRONAS policy, a state oil and energy company, towards boosting overseas expenditure.
He calls for reduction of PETRONAS dividend to the state but also a change in policy of payment according to certain percentage. The announcement is seen to also impact many of PETRONAS project in domestic Malaysia especially the new mega refinery-petrochemical project in southern Johor, a the tip of the peninsular Malaysia, at the Pengerang site.
The project which involves numerous of parties and commercial partners will be subject to the opposition review of viability and will call for certain transparency. The announcement comes to a no surprise to industry analysts which foresee that new political power will play its role on the country's biggest state company. There is likelihood that the new marginal fields in the domestic Malaysia will require further review.
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