Malaysia's incoming King , Sultan Ibrahim of Jonor, wants The Petroleum Development Act 1974 amended so that Petronas is controlled by and reports to him and not the Prime Minister

 by Ganesh Sahathevan 

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Malaysia's incoming Ruler, Sultan Ibrahim of Jonor,  wants The Petroleum Development Act 1974 amended  that Petronas reports to him and not the Prime Minister .

The Sultan told Strait Times Singapore: 

"If it comes to the Agong, it means you are not under the influence of anybody from the executive. Even Petronas shouldn't be under Parliament, report directly to me," he said, referring to the state oil giant, Malaysia's only Fortune 500 company which has contributed more than RM1 trillion to national coffers since its inception half a century ago.

The Act is clear in its wording and in its intent. The Prime Minister controls every facet of  Malaysia's  upstream and downstream  petroleum industry..

              PETROLEUM DEVELOPMENTACT 1974                                 

It is unclear how and when the Sultan intends for the Act to be amended so that power over Petronas to transferred to him.

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