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Showing posts from April 17, 2012

Petronas Money Siphoned- 6 Cronies milking Nation's Oil

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Petronas Money by Jeffrey Kittingan

IT'S HIGH TIME TO REVIEW THE PETRONAS OIL ROYALTY AGREEMENTS!

In view of the shocking developments from inevitable results of the sudden oil price hike, I would like to raise several issues with regards to the situation in Petronas which I believe most people are NOT aware of.

This is especially pertinent in the face of several revelations, such as the fact that the oil wells in Sabah will dry up six years from now. The issue has also been raised that Petronas "could go bust in 2018", forcing us to ask:

Where have all the huge amounts of Petronas money gone to?

Had Petronas been managed so badly that despite it being the nation's biggest money earner, it is now facing the possibility of going bust (bankrupt)?

The first problem with Petronas is the fact that it was designed to be a SECRETIVE organisation worse than a "kongsi gela…