Malaysian state oil company Petroliam Nasional Bhd will pay the government a dividend of RM13 billion next year, lower than 2016 levels, the country's Finance Minister II Johari Abdul Ghani said today.

Petronas, as the company is known, has said it will pay RM16 billion to the government this year.

Addressing reporters after the country's 2017 Budget was tabled in Parliament,Johari said the budget was based on an oil price assumption of US$45 (RM188.37) a barrel.

- Reuters