My Say: Petronas and the dangers of fragmentation of our petroleum economy
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On Sept 16, 2024, Malaysia celebrated its 60th anniversary; on Oct 18, 2024, the Prime Minister presented Budget 2025. Malaysia's petroleum-related revenue is projected to decline from 41.3% in 2009 to 18.3% in 2025, impacting Petronas' dividends and income tax revenue. The petroleum economy constituted 7.9% of GDP in 2023. Petronas has contributed over RM1.2 trillion since inception until 2021, with significant investments in Sabah and Sarawak. Fragmentation of the oil and gas market poses risks to economic health and investment attraction. The article emphasizes the need for unity among states to support Petronas and warns against political divisions that threaten national cohesion and economic stability.
#Petronas #Malaysia #Economy #OilAndGas #Politics #Budget #Fragmentation #NationalUnity #Gdp #Investment
https://theedgemalaysia.com/node/731808
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