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Tuesday, October 2, 2012

Why are they so worry and secretive about Petronas?

Each time the oil producing States request for increased royalties, everyone jumped up from their chairs in defending Petronas. The latest came from Umno youth chief Khairy Jamaluddin. My only discourse is, how much does he knows about Petronas when 99.999% of Malaysians do not know how Petronas operates and how its money moves around.

Petronas is in fact under the OSA, no one knows anything about its financial accounts but presumably must be making tonnes of money. Henceforth only a handful of top government officials have the privileged to view what goes on inside Petronas. Was Khairy one of them?

My tweets on Petronas were tagged to Khairy after his statement that Oil royalty hike affects tax collection, Petronas profits but till now he has yet to response.

Following were my tweets:

1 In reference to @Khairykj bold statement touching about #Petronas. Let us ask a few questions & logically analyzed it, your views/comment

2 Who actually owns #Petronas, a listing co, international share holders, umno, bn, govt (indirectly the rakyat) ?

3 Who actually has privilege 2view #Petronas accts in full, sure no1 frm public, @Khairykj has since he can talk about profit & loss?

4 Any1 knows actually how many barrels of oil are siphoned out from all the oil rigs in MY water owned by #Petronas?

5 How many knows about #Petronas ventures in the international arena? How much are allocated for all these ventures? and what are the ROI?

6 Where does the nett profit of #Petronas goes2 after, ddt payment2govt, allocation 4international ventures, operating cost& other expenses?

7 All the above cannot be known due to the strictest confidentiality place under the OSA hence #Petronas is a no go zone? So far am I right?

8 Pls correct me if I am wrong. #Petronas oil discovery within MY territory belongs 2govt with agreement of certain %tage of payment2 States

9 Anything belonging to the govt, inclg #Petronas belong to the country & ultimately the rakyat. Pls clarify if I am wrong.

10 If #Petronas belongs to the rakyat, Y are there hue & cry when the rakyat are asking for their money especially States where oil r found?

11 Y #Petronas need to hide their nett profit when it should be distributed to the rakyat.The so call tax 2govt is 1thing but nett profit?

12 #Petronas has never make any loses in the acct books? As long as there r no loses govt should provide more 4 oil producing States.

13 In conclusion can I ask @Khairykj what he meant by "we have 2 think of the financial implications when we talk about increasing royalty,"

14 Declaration, all the above are just my understanding/opinion about #Petronas, because its not open and transparent 2the public. @Khairykj

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