Terengganu mulling Petronas stake purchase, says MB
Primer Minister Tun Dr Mahathir Mohamad reportedly said yesterday that the government is considering selling stakes in Petronas to states where the company’s oil and gas fields are located. — Reuters pic
Mentri Besar Datuk Seri Dr Ahmad Samsuri Mokhtar said the state government does not have the financial capacity to buy the entire shareholdings of the national oil company. “But if it’s in the form of equity, say five or 10 per cent, then we can probably consider, a reasonable amount of equity. In Terengganu we have many oil wells. If one oil well comes to only RM10 million or RM20 million, then we can buy,” he said when met by reporters after chairing a state executive council meeting at Wisma Darul Iman here today.
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