Malaysia’s Biggest State Reclaims Gas Assets in Autonomy Bid
- Sarawak seeks higher royalties from national oil firm Petronas
- State is on a buying spree as it flexes political muscle
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Malaysia’s biggest state, Sarawak, is set to take control of its natural gas assets from federal government-run companies, as its campaign for economic autonomy bears fruit in the Southeast Asian country’s fragile political landscape.
The Borneo island state’s oil firm, Petroleum Sarawak Bhd., last week signed its first gas sale agreements. It is effectively starting a take-over of the gas distribution network in Sarawak that’s controlled by Malaysian oil giant Petroliam Nasional Bhd.