Malaysiakini NEWS

Blessed with sweet crude, but cursed with bitter debts

S Ramakrishnan  |  Published:  |  Modified:

COMMENT Petronas has contributed about RM800 billion to the government since its inception in 1974.

In 2008 alone Petronas contributed about 44 percent of the federal government revenue, but this has dropped to 31 percent in 2014 and it expected to drop further to 22 percent in 2016.

Fossil oil, called black gold, was once priced at US$110 (RM482) a barrel is now hovering around US$30 (RM131.43) a barrel.

Share this story

OR

Welcome back,

Your subscription expires on
  

Your subscription will expire soon, kindly renew before
  

Your subscription is expired
  Click here to renew

You are not subscribed to any subscription package
  Click here to subscribe now

Any questions?
  Email: [email protected]
  Call: +603-777-00000

Renew