PUTRAJAYA, Dec 18 — Prime Minister Datuk Seri Anwar Ibrahim said Malaysia must accept the reality that the country can no longer be overly dependent on dividends from Petroliam Nasional Bhd (Petronas), as the national oil company operates as a commercial entity whose performance is closely tied to global oil prices.
He said Petronas’ dividend payments to the government are determined by market conditions and the performance of the oil and gas industry, which remains subject to volatility amid an uncertain global landscape.
“Petronas is a commercial entity. The dividend depends on the performance and the price of petroleum. We have to accept reality.
“The country, in order to move forward, cannot be too dependent on Petronas’ offerings,” he said during a one-hour briefing with local and international media editors-in-chief yesterday.
