Is Malaysia’s Petroleum Boom Fading?

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Behind Asia

Күн бұрын

Пікірлер: 122

@BehindAsia 16 күн бұрын

Do you think Malaysia is still too reliant on the oil and gas industry?

@jimieJimieMaverickstarz 16 күн бұрын

Now they re relying on semiconductor industry and enhancing their RnD in many sectors...

@Bipolar_Bear7774 15 күн бұрын

Malaysia leading in green energy..for example in sarawak they making fuel for plane using algea..together with japanese company..not mention their hdrogen and solar

@zamanreds 16 күн бұрын

O&G used to be big but now manufacturing and services sector plays a bigger role in Malaysia's economy. However Malaysia's O&G industry still contributes around 20% to the country's annual GDP. It is a vital part of Malaysia's economy and employs over 200,000 people.

@Arrazi13 16 күн бұрын

Oil and gas is still the backbone of all other economic activities. Subsidising every sectors.

@RodrigoJ-x4l 16 күн бұрын

@@zamanreds Not 20%. If you check the latest statistics, oil and gas contributes less than 12%, while E%E, manufacturing and services all contribute to 20% each.

@RodrigoJ-x4l 16 күн бұрын

Oil is no longer the main income earner for Malaysia since the 1990s. This channel needs to do more research 😂

@YouKUMov 16 күн бұрын

Then give back oil to Borneo

@AmboredJericho 16 күн бұрын

@@YouKUMov we own parts of borneo too

@YouKUMov 16 күн бұрын

@AmboredJericho then give back too

@RodrigoJ-x4l 15 күн бұрын

@@YouKUMov Give it back to whom? Give the Philippines back to China? 😂🤣

@YouKUMov 15 күн бұрын

@@RodrigoJ-x4l Borneo states

@zencozx-gene8289 16 күн бұрын

you forgot to mention state owned competitors to Petronas, such as Petros from Sarawak which is to carve a chunk of Petronas revenue and operation in the state, and also the conflict between PDA and Sarawak state ordinance on continental shelf and mining rights. Sabah also has the same issue on their own oil and gas rights, but not so much info on it compared to Sarawak. in short, this video is not doing a thorough research.

@YouSongSoon 16 күн бұрын

Since 1966, the Malayan leaders wanted to take over the Sabah and Sarawak Continental Shelf. They passed the following Acts, Continental Shelf Act 1966 and Oil Mining Act 1966.However, they could not be enforced in Sabah and Sarawak. 13 May 1969 Racial Riots broke out in Kuala Lumpur.15 May 1969 Emergency declared nationwide. Parliament suspended for almost 2 years. Absolute power held by the Director of Operation. Many Ordinances and Gazettes issued through ORDERS. Among them, Emergency (Essential Powers) Ordinance No.7 1969 dated 2 August 1969, All Sea Regions were reduced to only 3 Nautical Miles. With this Ordinance, the Sea Regions of Sabah and Sarawak were also reduced from 350 Miles to 3 Nautical Miles. Following this Ordinance, 2 Acts were gazetted to be enforced in Sabah and Sarawak on 8 November 1969, namely Continental Shelf Act 1966 and Oil Mining Act 1966 Means that the Federal Government took over all the Sabah and Sarawak Sea Regions outside 3 Nautical Miles. Anything outside 3 nautical miles belongs to the Federal Government This action was taken with EMERGENCY powers and not through the Agreement of Sabah and Sarawak. Sabah and Sarawak's power to issue Licenses Mining was also taken over by Oil Mining Act 1966. This is how Sabah and Sarawak's Oil and Gas were SCAMMED by the greed of Malayan leaders and elites

@izzattaz6290 16 күн бұрын

@@YouSongSoonSo, you're saying no individuals from Sarawak without billions and they're letting this happened?

@YouKUMov 16 күн бұрын

@@izzattaz6290 The Act reduced Sarawak's territorial waters from 12 nautical miles to just 3 nautical miles. This reduction limited Sarawak's control over its maritime resources, including fisheries, marine and mineral resources, and tourism sites in marine areas. Essentially, it confined Sarawak's economic benefits to a much smaller area, impacting its ability to fully exploit and benefit from its natural resources. The Maritime Territories Act 2012 (also known as the Territorial Sea Act 2012) was passed by the Malaysian Parliament without the consent of the state legislatures of Sarawak and Sabah. This act reduced the territorial waters of these states from 12 nautical miles to 3 nautical miles, which significantly impacted their rights over marine resources. According to Article 2 of the Federal Constitution, any law that alters the boundaries of a state must be passed with the consent of the state legislature and the Conference of Rulers.

@joharimohdsalleh457 16 күн бұрын

Dream on lah😂😂😂😂😂

@piandaud4080 16 күн бұрын

@@YouSongSoonI like the word scammed that you used. Scammed by your own state minister the billionaire.

@YouSongSoon 14 күн бұрын

In Sabah, the first Chief Minister, Donald Stephens (Tun Fuad Stephens)has ongoing disputes over oil royalties and the control of natural resources with federal government . Sabah, along with Sarawak, has been pushing for a higher royalty rate, claiming that they are entitled to more under the terms of the Malaysia Agreement 1963 (MA63) Donald Stephens died in a plane crash on June 6, 1976, killing everyone on board, this included several of his cabinet members and his son, Johari. The timing of the crash, which occurred when negotiating Sabah's oil rights with the federal government. After the tragic Crash , Harris Salleh Deputy Chief Minister ,signed the Petroleum Development Act (PDA) of 1974 and accept only 5% petroleum royalty and did not ask for further negotiations. Sarawak followed suit and signed a 5% petroleum royalty rights, . Until now, the 66 plane crash is still the top secret of the Malaysian government This act was crucial in transferring the ownership and control of oil resources from the states to the federal government through Petronas. In Sarawak, the first Chief Minister Stephen Kalong Ningkan faced significant challenges and political interference from the federal government. In 1966, a federal declaration of Sarawak emergency led to his deposition during September 14, 1966 to September 10, 1967 , which was seen as an example of the federal government's interference in the state's autonomy. The dispute is over oil royalties and control of natural resources, with Sarawak pushing for a higher royalty rate and greater control over its resources. A ploy to get the consent from Sarawak to enforce Continental Shelf Act, 1966 over Sarawak territorial waters. However, The Sarawak Emergency of 1966 did not directly affect the Oil Mining Ordinance 1958 so in this sense the Continental Shelf and the Petroleum Mining Act cannot be enforceable in Sabah and Sarawak. Tunku Abdul Rahman dismissed the inaugural first Chief Ministers of Sabah and Sarawak, Tun Donald Stephens and Stephen Kalong Ningkan, respectively. Both leaders were strong advocates for their states' rights and autonomy, including issues related to oil royalty rights, Continental Shelf , English as the official language of Sarawak and the Malaysia Agreement 1963 (MA63).

@System0Error0Message 16 күн бұрын

its not about the price of petroleum but rather the demand globally has been the same and the output from malaysia has been the same but costs and people have increased requiring more budget

@B1398-p8i 16 күн бұрын

The oil revenue is a curse for Malays as all Malays have developed a dependency on oil revenue handouts through Malay only GLCs. Non Malays have to work hard & innovate to stay economically relevant.

@azaharimohd7497 15 күн бұрын

Malay people have to share this land, business opportunity, jobs and many more(basically everything) with the descendants of migrant workers brought by british. They dont have to, if those guys just go back to their country of origin instead of choosing to stay here and awarded with citizenship and become the people of the King. Think about that. Dont just think about what malay get, what they lost is a lot more. Be grateful.

@B1398-p8i 15 күн бұрын

Remember without the support of the Indian, Chinese, & other minorities races, Malaya could not have independence from Britain. The special privileges is supposed to be 15 years after independence, to help the Malays to advance economically but today, after 68 years, the majority of Malays, 70 %, get special privileges at the expense of the remaining 30 % of the Chinese & Indian population. The NEP, the never ending privilege looks permanent. Ketuanan Melayu policy & hegemony is a distraction to Malaysian nationalism. In the early days, Without the non Malays working in plantations, rubber estates, commerce, export & imports, in the government, JKR, NEB, Talikom, , now all privatized with large Malay shareholders, Malaya would be a backwater kampong. So be grateful to the Indian, Chinese & Punjabis, eurasians. Etc who have built this country where the today Malay elites are enjoying with Rolls Royce, Bentley, BM, & holiday homes in UK & Dubai. Instead of being nationalist, Malays have become kleptocrats stealing & corrupt where they are in positions of power, with Najib being the best thief & big bunch of other well know Malays with slogan “ Apa Malu”

@yuk4z3 15 күн бұрын

U need to sedar diri

@ankllkmjd2 14 күн бұрын

What do u expect. Come to other people's land dont want to return. given citizenship then dont even want to assimilate even degrading then very community that accepted u people then act victim coz dont get so much assistance? Datang x berjemput pulang x berhantar. Except u people dont want to even pulang. Di biar hidup disini dibuat pula country dalam country. Betul² x sedar diuntung 😅.

@cheesecake321-n6w 14 күн бұрын

might be true in the 70s or 80s but not anymore. But its okay we'd rather u continue thinking this way and sleep while we do our thing.

@kennygoh1693 15 күн бұрын

Malaysia is a net importer of oil since 2014! There oil production is dwindling. Only LNG gas exported earns net inflow of earning. We do not hv a national oil security policy and Petronas has failed the nation. If oil is 200$ Malaysia economy will be destroyed. In another 10-15 years the effect will be felt tremendously!

@kingwong8290 16 күн бұрын

Malaysia's SME is one of the main drive

@lukeberry6667 14 күн бұрын

Petronas(no) Petros(Yes) I as Sarawakian feel disappointed when seeing outsiders says that Petronas is big and very success in oil & gas contribution to Malaysia. But in reality,Sarawak is the backbone of all this happens.. Can you guys tell me? Is that any of Petronas building or else build in Sarawak? Of course nothing... Only in KL. Everything is at peninsular. What we (Sarawakian) have? Nothing..... Thats why,now todays Chief minister Abg Jo want to change or re-take what we have lose previously.

@shamshulanuar7718 14 күн бұрын

Sabah and Sarawaka re not the only oil producers in Malaysia

@radun3915 13 күн бұрын

Your state is not the only oil producers lol, get over yourselves.

@hafizhassan9786 13 күн бұрын

Do you know Sarawak contribute 40% of oil and gas followed by Terengganu 30%, Sabah 20% and Kelantan 10%. You feel envious about Pertonas built Twin Towers in Kuala Lumpur instead in Sarawak. Do you know KL is Malaysian capital city? Have you seen towers built by Petronas in Terengganu, KK or Kelantan? Do you know how much need to be invested for exploration and drilling? Sarawak received more that other states in terms of revenues for the last few decades. Where all those money went to? Your corrupted local MPs nd previous late CM. The budget have been allocated to develop rural areas..if you keep rsenting about Malaya..please do visit other states in Peninsular, NOT just KL. Other than KL and Selangor, Putrajaya only Johor and Penang are quite develope attratct investors and their revenue ARE NOT from oil and gas. Do go visit rural areas in Kelantan, Terengganu, Kedah, Perak where the kids still need to walk crossing the rivers go to school, and some villages still lack of clean water or electricity. So other Malaysians not contribute to the country? Not paying taxes.. ? You lot have been brainwashed so long by your rulers. Have you ever feel part of Malaysia at all? So many Malaysians from Malaya contributed in education, health and defence for Sarawak and Sabah, and you lot never appreciate it.

@lukeberry6667 13 күн бұрын

@@hafizhassan9786 actually I don't thanks PETRONAS,where we are still paying higher price compare to Smnjg.. Of course we feel disappointed. I would say Sarawak contribution of 40% is big enough.

@روسلان-ق3ض 10 күн бұрын

Sarawak population only 2.5 million. Meanwhile klang valley around 6 million. More competitive.

@firstimer 16 күн бұрын

is it have related to petros and petronas issue about oil company explore in sarawak

@imanmanimanman7667 16 күн бұрын

Explore 🤣🤣🤣....kamu ingat kos cari gali sehargga 100ringgit......Sarawak tidak mampu kalau silap explore syarikat Sarawak akan bankrup,kamu lihat Indonesia terpaksa minta tolong Petronas mencari gali untuk mengelak resiko rugi berbilion dollar,rakyat Sarawak sembang kosong boleh la...dia ingat cari gali semudah membuat nasi goreng 🤣🤣🤣

@Bipolar_Bear7774 15 күн бұрын

@@imanmanimanman7667sarawak dh explore minyak sblm petronas wujud lagi..

@kd_azrul8648 16 күн бұрын

Top 1 in Asean❤🎉

@bennedickarup2207 16 күн бұрын

Well done PETRONAS MALAYSIA 🇲🇾🇲🇾

@MuhammadAhmad-db6sf 16 күн бұрын

Malaysia are doing Great reforms since of decades. But corruption and lack of planning they can't bulit big companies like saudi oil company aramco and many middle east countries oil and gas business. Malaysian government need to make strick laws on corruption and bulit up great management amoung on all business like to achieve great goal of gdp growth and gdp per Capita... 🦾🇲🇾 Great Malaysia

@azaharimohd7497 15 күн бұрын

😂😂 😂 what corruption? What lack of planning? Petronas did great. saudi oil reserve is 270 billion barrels vs Malaysia 2.7 billion barrels..😂😂

@euyie8738 15 күн бұрын

It has always been on the downside since the 90s. I’m still scratching my head as to why u seem to be unaware of it. Mahathir, Dollah Badawi, Najib and recently Rafizi have been saying the same thing over the years. It’s common knowledge to us Malaysians

@foxley95 16 күн бұрын

is malaysia's total percentage of oil and gas exports reducing? yes. but is it fading anytime soon? no. this just means malaysia is currently transitioning from relying on the exports of resources such as fuels to electrical component production such as semiconductor. malaysia realize they're not a big player in the oil industry and we're not even part of the core members of OPEC, so we need to expand the variant of our exports like you've just said, its not sustainable.

@YouKUMov 16 күн бұрын

Then give back oil to Borneo states

@shamshulanuar7718 14 күн бұрын

Not all oil come from Sabah and Sarawak

@YouSongSoon 14 күн бұрын

@@shamshulanuar7718 what he means return what belong to them, even small amount

@worldview2888 16 күн бұрын

**** I HAVE FOLLOWED THIS MATTER FOR YEARS **** (Just my humble take because i live in THIS "region") 1) Malaysia is surprisingly on the right track on the world stage - the biggest possible surprise is when the US approached (msia) ................... And will anyone be shocked - Anwar actually said NO to the US government. (situation, plan and meeting cannot be said on YT.) 2) If msia REALLY joined BRICS .. I have said this from day one - MY will finally hold a very big candle to finally compete against Singapore. This will be the first time in human history where the malayan economy will finally recover. (hint: who owns BRICS - Port KLANG will be get the business of China. And if the bigger reality is true where msia really win the trade corridor of malacca straits - finally MY will really compare with SG.)

@YouKUMov 16 күн бұрын

The Territorial Sea Act 2012 did impact Sarawak. The Act reduced Sarawak's territorial waters from 12 nautical miles to just 3 nautical miles. This reduction limited Sarawak's control over its maritime resources, including fisheries, marine and mineral resources, and tourism sites in marine areas. Essentially, it confined Sarawak's economic benefits to a much smaller area, impacting its ability to fully exploit and benefit from its natural resources. The Maritime Territories Act 2012 (also known as the Territorial Sea Act 2012) was passed by the Malaysian Parliament without the consent of the state legislatures of Sarawak and Sabah. This act reduced the territorial waters of these states from 12 nautical miles to 3 nautical miles, which significantly impacted their rights over marine resources. According to Article 2 of the Federal Constitution, any law that alters the boundaries of a state must be passed with the consent of the state legislature and the Conference of Rulers. However, the Territorial Sea Act 2012 was enacted without obtaining this consent, which has led to ongoing disputes and challenges from Sarawak and Sabah

@eustache_dauger 16 күн бұрын

TSA2012 was passed by the parliament, but not legally enforceable as it requires approval from Sabah & Sarawak legislative assemblies (and they never consented). It's more like the current government of Sarawak is more proactive is retrieving, restoring & enforcing their constitutional rights, that we start seeing it being openly spoken in public. P/s: speaking of which, when Pak Lah surrendered Block L & M to Brunei in March 2009, there's no public record of Sarawak SLA consenting to that border change either. So perhaps overtime we'll see how that turns out.

@ayahpinkofficial2769 10 күн бұрын

Malaysia has think about this long before You born...we know we can't rely on oil money forever...That why today Malaysia Main export was Electronic Products...Oil and gas was not even our main Export...so ya can keep Crying because despite with no oil This country will not going bankrupt...we can Import cheap oil later Because our oil and gas Infrastructure already was World class level...