KUALA LUMPUR, Aug 11 (NNN-BERNAMA) — Malaysian’s national oil company Petronas reported a loss of around RM17 billion in petroleum revenue from March till June this year during the Movement Control Order (MCO) period.
In a brief written reply to Tuan Noor Amin Ahmad’s (PH-Kangar) question in Parliament on the loss of petroleum income throughout the implementation period, Prime Minister Tan Sri Muhyiddin Yassin also said the federal government has no intention of amending the Petroleum Development Act 1974 (PDA 1974) at this point in time.
Throughout the MCO period, economic sectors in general were closed to curb the spread of the COVID-19 infection.
In March, during the early stage of the MCO, global crude oil price benchmark Brent fell to US$20.37 per barrel, its lowest level this year, from US$51.80 in February.
–NNN-BERNAMA
