Resignation at Petronas tomorrow?

Resignation at Petronas tomorrow?

SHERYL STOTHARD TO QUIT. After the latest bout of postings on blogosphere exposing Miss Sheryl Stothard's political past, it has become rather inevitable that the new Corporate Comm head of Petronas would resign not just from the post but from the company. I hear there'll be an internal com on this at the national oil corporation this week, maybe even tomorrow.

Read Vote Umno and BN out, says Petronas' GM by Apanama.

Here's the article :

Updated - The Queen may have unleashed her cyber-troopers but ROCKY's BRU says the President of Petronas has finally seen the light. As the Queen's cyber troopers are proposing for a witch-hunt at Tower 1, read another fresh insight into the former Parti Rakyat Malaysia VICE president's IDEOLOGY. -

"The executive (read: Dr M and gang) has been abusing the legislative and the judiciary so long that it thinks that this is a right, not a wrong. It's so bad that even Anwar, who belonged to the highest echelons of the executive, couldn't right this wrong. This means that the only alternative is to sack the present executive branch (read: BN) and elect new representatives.

3. A beginning of a new, more equitable, multiracial approach to managing this wonderful country called Malaysia. Our citizens are relatively tolerant of each other, but the BN has continued the British divide-and-rule (and outdated) system of government in keeping us apart. After putting up with this for 42 years, you must agree that the only way from here is to look at alternatives to the status quo. We have to UPGRADE.
4. A real and committed plan to alleviate poverty, esp. among the Malay rural community which has been used and abused by Umno for far too long. The Anwar issue has only been a catalyst to the expression of dissatisfaction among Malays, not the over-riding reason to voice a need for change. To claim so is disingenuous.

5. A stronger government to take Malaysia into the challenging new millennium. The BN can't do it - it's quite obvious. Even their leaders admit so, blaming external forces for their failure. Blaming is not going to solve our problems as a small trading nation in a corporate-ruled world. Having a clear and consistent policy on managing our assets will help stave off the sharks when they come to feed here. Eg., if privatisation is reversed, even the WTO will not have jurisdiction on our assets. When you put our assets in the hands of a few private corporations, you leave these assets vulnerable to takeover from within and outside the country, esp when these corporations mismanage our assets. Will BN reverse privatisation? I seriously doubt it! So who will? The opposition, of course.' or so says Queen Steryll Stothard HERE.

Wisma Putra confirms oil blocks to be jointly developed

By Adib Zalkapli

KUALA LUMPUR, May 3 — The Ministry of Foreign Affairs today confirmed that a disputed oil rich area would be jointly developed by Malaysia and Brunei following an agreement reached in March 2009.

In a statement, Wisma Putra also confirmed that the areas known as Block L and Block M are recognised to be within the Brunei borders under the agreement or exchange of letters signed by the then Prime Minister Tun Abdullah Badawi (right).

“Malaysia’s oil concession Blocks L and M which coincided with Brunei Darussalam’s Blocks J and K are recognised under the Exchange of Letters as being situated within Brunei Darussalam’s maritime areas, over which Brunei Darussalam is entitled to exercise sovereign rights under the relevant provisions of the United Nations Convention on the Law of the Sea 1982 (UNCLOS 1982),” said Wisma Putra in the unsigned statement.

It added that the agreement also covers the establishment of a Commercial Arrangement Area (CAA) for oil and gas and steps to establish permanent land maritime borders with Brunei.

“The establishment of the CAA incorporating these Blocks provides for a sharing of revenues from the exploitation of oil and gas in the CAA between the two States,” said the ministry.

“The termination of the Production Sharing Contracts covering Blocks L and M which were awarded by Petronas to Petronas Carigali Sdn Bhd and Murphy Oil in 2003 is in accordance with the establishment of the CAA as provided for in the Exchange of Letters,” it added.

Late last week both former Prime Minister Tun Dr Mahathir Mohamad and the DAP’s Lim Kit Siang demanded an explanation from Abdullah after news reports emerged suggesting Malaysia had signed away its oil rights.

Murphy Oil, which had entered a production-sharing contract with national oil company Petronas, for Block L and Block M offshore of Limbang, announced last month that it was ceasing operations because “it was no longer part of Malaysia.”

Abdullah denied that he had surrendered the oil rich areas with potential oil earning worth RM320 billion to Brunei saying that it would be jointly developed by the two countries for a period of 40 years.

Dr Mahathir accused Abdullah of surrendering the two blocks ????, just three weeks before his departure in exchange for Brunei dropping its claim over Limbang in Sarawak.

The fifth prime minister explained that the agreement with Brunei aimed at solving long standing border dispute, was signed with prior approval from the Cabinet.

Petronas wants it ALL , wants Murphy Oil OUT ! that's my take !