ReNegotiate the PETROLEUM Agreement 1976?


Why should Sabah & Sarawak ReNegotiate the Petroleum Agreement 1976?? When even in the first agreement Malaya DID NOT honor the terms? 5% of Petroleum Sale is not less than RM500 million per year.  The 5% was NEVER a Royalty but total sale based on F.O.B.  The global petroleum & gas price for the last 2 decades was excellent.  Why does the amount paid to the state government remain constant?  Why need to export Petroleum from Labuan and Gas from Bintulu?  Who collect the EXPORT Tax?  Why is Sabah & Sarawak have NO say to Export Tax?  What about Tax on Petroleum Products into Sabah and Sarawak, Why is Sabah & Sarawak is not getting any of it?  Today, both the Chief Minister of Sabah and Sarawak wants to ReNogatiate.  The issue is that Petroleum belongs to the people NOT the leaders.  They have NO right to ReNegotiate on behalf of the people – Only the Dewan Undangan Negeri has that power.

Petroleum Agreement <<– Please read this and understand

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