Petronas founder heads royalty probe

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By News wires

 25 November 2009 02:13 GMT

The founding chairman of Petronas, Razaleigh Hamzah has agreed to head a Parliamentary Caucus mooted by Malaysian opposition coalition Pakatan Rakyat (PR) to redistribute oil royalties from the federal government to the state authorities.

PR leader Anwar Ibrahim said Razaleigh had accepted the invitation in the Parliament this morning.

The Caucus aims to draft amendments to the Petroleum Development Act to ensure that oil-producing states — including opposition-controlled Kelantan — receive royalties in line with the philosophy that constituted the Act in 1974, the Malaysian Insider reported.



Anwar said the draft bill will be discussed during PR convention next month.



“The draft bill will explain the status and state powers on the distribution of oil royalties to the oil-producing states.

“We will table the bill…

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