Jakarta Goverment News - Malaysian Deputy Prime Minister Dato Sri Mohd Najib Tun Abdul Razak said Petronas Malaysia is ready to invest in Indonesia, notably in exploring new oil reserves if Indonesia so desires.
To date Petronas is operating in 30 countries, including Chad and Libya, Najib Tun Razak told Antara at the Sukarno-Hatta airport here Monday (2/6).
The Malaysian Deputy Premier was accompanied by Dato Zainal Abidin Mohd Zain, Malaysia’s Ambassador to Indonesia.
In fact, Pertamina and Petronas in August 2006 concluded a strategic cooperation agreement, notably in the sector of LOBP (Lubricant Oil Blending Plant). Both mutually supply high octane premium.
In 2007 Petronas gained a profit Rp198.3 trillion, and 66.2% of it ( or Rp135.9 trillion) was returned to the Malaysian Government.
The remainder was for reinvestment in the downstream sector and activities at international level in order to support state revenues .
The deputy prime minister said that Malaysia plans to decrease the fuel subsidy, so that eventually it will only go to low-income people.
One bad thing is the smuggling of subsidized fuel at a time fuel price in Malaysia and at the world market differs greatly. So the best thing is to give subsidized fuel only to poor families, he said. (id/toeb/har/ton
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