QUOTE(crapster @ Dec 27 2007, 02:54 PM)
One reason Petronas is filthy rich is because all oil/gas found on Malaysian soil/waters belong to them. This means that foreign oil companies who discover oil here need to pay Petronas a certain amount of the profits gathered from these oil fields. True ?
all foreign oil companies have to surrender 70% of all oil and gas found in malaysia soil/water to Petronas. Then, Petronas sell our good quality crude oil to other countries and buy lower grade crude oil from middle east for domestic use. If international crude price is at USD 100 per barrel then malaysia's crude oil can sell more than that because of lower sulfur.
Dec 27 2007, 06:26 PM

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