KUALA LUMPUR – Petronas did not hide its financial performance and achievements, as alleged by some quarters, said Minister in the Prime Minister’s Department (Economy) Datuk Seri Mustapa Mohamed.
He said Petronas had cultivated accountability as a company practice with regular reporting on its progress and achievements, especially its quarterly and annual financial performance, on a website that is accessible to the public – even though Petronas is not listed on the stock exchange.
“Besides that, Petronas announces its financial performance through media statements on a quarterly basis, and briefings to the media on a semi-annual basis,” he said during a question-and-answer session in Parliament today.
Mustapa was replying to a question from Datuk Seri Wilfred Madius Tangau (Tuaran-PH), who questioned why Petronas’ financial performance via the annual report was concealed.
“Petronas’ effectiveness and capability in developing the oil and gas (O&G) sector over the years have contributed a lot to the development of the country,” he said.
He said Petronas has upstream operations in more than 20 countries and downstream operations in more than 90 countries.
“As of last year, a total of RM1.2 trillion has been contributed to the federal and state governments in the form of dividends, cash payments, and taxes.”
He said Petronas is committed to maintaining a stable business and investment ecosystem that is conducive to the growth and sustainability of the country’s O&G industry.
“This, in turn, enables the active involvement of state governments in investment opportunities in the O&G industry based on commercial terms and technical feasibility,” he added. – Bernama, November 22, 2021
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