By Shikin Louis
KUCHING, Feb 9: Sarawak’s fight over oil and gas rights is about sovereignty, not corporate dividends, says Pujut assemblyman Adam Yii.
He was responding to a recent proposal by Democratic Action Party (DAP) Sarawak chairman Chong Chieng Jen, suggesting the State accept a 30 per cent equity stake amid ongoing oil and gas disputes with Petroliam Nasional Berhad (PETRONAS).
Yii, who is also Sarawak United Peoples’ Party (SUPP) Central Publicity Secretary, said the proposal may sound attractive at first, but a sober assessment shows it is directionally flawed, conceptually misleading and potentially harmful to Sarawak’s long-term interests.
“What Sarawak has been fighting for has never been a 30 per cent corporate shareholding, but the authority to manage and decide on oil and gas resources within its territory,” he said in a statement today.
Using an analogy of ancestral land, Yii explained: “If a piece of ancestral land rightfully belongs to you, would you choose to decide how it is used, who leases it, and how much you earn—or hand it over to someone else in exchange for a 30 per cent stake in their company, wait for annual dividends, and bear potential risks along the way? The answer is self-evident.”
He added that a 30 per cent PETRONAS stake does not give Sarawak control over resource extraction, industrial planning, or operational decisions. At best, Sarawak becomes a minority shareholder—not the true owner of its resources.
“Those proposing the 30 per cent equity idea either lack a basic understanding of how the oil and gas industry operates, or are deliberately oversimplifying and misleading the public,” Yii said.
He also cautioned that equity ownership exposes Sarawak to risks without granting real authority.
“PETRONAS operates beyond Sarawak in overseas projects and commercial ventures. As a shareholder, Sarawak would share these risks yet still lack full control over its resources. That is neither fair nor prudent,” he pointed out.
At the same time, Yii lauded the Sarawak government’s practical approach in strengthening real authority over oil and gas. Achievements include Petroleum Sarawak Berhad (PETROS) becoming the sole gas aggregator in the State, PETRONAS committing to supply 1.2 billion standard cubic feet of gas per day for local priority use, and Sarawak exercising real control over industrial development and gas utilisation.
“If something rightfully belongs to Sarawak, it should not be exchanged for shares. What Sarawak needs is sovereignty-based management authority, not a 30 per cent corporate stake. This truly serves Sarawak and the Sarawakian people,” he emphasised. — DayakDaily
