Stakes of Malaysia’s Sarawak taking control of oil, gas resources
“Malaysia’s oil-rich Sarawak is set to make history as the country’s first state to gain full control of its oil and gas resources under a legal framework tied to a 1963 agreement by which it joined the Malaya Federation.”
“The stakes are high for Malaysia’s national oil company, Petronas, and for Sarawak’s energy sector, which holds over 60% of the country’s gas reserves.”
“Kelantan and Terengganu, states in Peninsular Malaysia, are closely monitoring Sarawak’s move, said Tricia Yeoh, an associate professor at the University of Nottingham Malaysia’s School of Politics and International Relations.”
Full article via Benar News.