KUCHING: Kota Sentosa assemblyman Wilfred Yap has rebutted remarks by Miri MP Chiew Choon Man on Petronas’s oil and gas revenues, stressing that Sarawak is demanding fairness and transparency, not charity.
Chiew had argued that claims Petronas retains 95 per cent of Sarawak’s oil and gas revenue were “distortions” of the petroleum fiscal regime, saying most of the revenue is consumed by operational costs and risks.
Yap questioned the consistency of such claims.
“Nobody denies that oil and gas exploration is capital intensive, nor do we dispute that risks exist. But if Petronas is truly operating on razor-thin margins of 10 to 15 per cent profit, as claimed, why then does Petronas remain one of the largest contributors to the federal budget every year?
“The numbers simply do not reconcile with the narrative being pushed,” he said in a statement today (Sep 9).
Calling for openness, Yap urged Petronas to allow its accounts to be independently reviewed.
“If Chiew’s figures are accurate, there should be no obstacle to Petronas opening its books for independent scrutiny. Sarawak has the right to demand transparency. If Petronas has nothing to hide, then disclosure will only strengthen trust,” he said, adding that Sarawak also shoulders risks.
“Risks are not borne by Petronas alone. Sarawak bears environmental, economic, and the enduring risk of being short-changed while our resources fuel the federal coffers.”
Yap said Sarawak’s position is firmly grounded in law, citing the Oil Mining Ordinance 1958, the Distribution of Gas Ordinance 2016, and the Malaysia Agreement 1963 (MA63).
“Instead of defending the status quo, Chiew should support Sarawak’s call for fairness and transparency. Sarawak’s rights are not political rhetoric — they are grounded in law and justice. The people deserve nothing less than the truth,” he said.
Yap stressed that Gabungan Parti Sarawak (GPS) would continue to pursue Sarawak’s rightful share of oil and gas revenues in an open and responsible manner.
