By DayakDaily Team
KUCHING, Sept 9: Kota Sentosa assemblyman Wilfred Yap has described recent remarks by Miri MP Chiew Choon Man on Petroliam Nasional Berhad’s (PETRONAS) oil and gas revenues as misleading, stressing that if the national oil company truly operates on razor-thin margins of just 10–15 per cent as claimed, it would not remain one of the largest contributors to the federal budget year after year.
Chiew was recently reported as dismissing claims that PETRONAS retains 95 per cent of Sarawak’s oil and gas revenue, arguing that such assertions were “distortions” of the petroleum fiscal regime and that the bulk of revenues are consumed by operational costs and risks.
Responding, Yap said Sarawakians are not asking for handouts but for what is fair.
“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, 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 asserted in a statement today.
Yap added that if Chiew’s figures are accurate, PETRONAS should have no objection to opening its books for independent scrutiny.
“Sarawak has the right to demand transparency. Let the Sarawak government or independent reputable auditors review the actual breakdown of costs, revenues, and profit allocations. If PETRONAS has nothing to hide, disclosure will only strengthen trust,” he said.
Without such transparency, he argued, Sarawakians will remain sceptical of claims that most revenues vanish into operational expenses.
“Risks are not borne by PETRONAS alone. Sarawak bears risks too — environmental, economic, and the enduring risk of being short-changed while our resources fuel the federal coffers. To dismiss Sarawak’s grievances as misinformed or unfounded is both unfair and irresponsible,” he stressed.
He reminded that Sarawak’s push for a just share of its natural resources is not political rhetoric but grounded in law, including the Oil Mining Ordinance 1958 (OMO 1958), Distribution of Gas Ordinance 2016 (DGO 2016), and the framework of the Malaysia Agreement 1963 (MA63).
“Instead of defending the status quo, Chiew should support Sarawak’s call for fairness and transparency. The people deserve nothing less than the truth. All parties should move away from dismissive rhetoric and towards honest engagement based on facts, audited figures, and lawful agreements,” he said.
Yap reiterated that the Gabungan Parti Sarawak (GPS) government will continue to pursue Sarawak’s rightful share of oil and gas revenues openly, transparently, and responsibly.
“Anything less is unacceptable to the people we represent,” he affirmed. — DayakDaily
