State-owned oil company Petros was set up in March last year with a mandate to regulate Sarawak’s oil and gas activities. – The Malaysian Insight file pic, June 25, 2019.
A YEAR after Sarawak undertook regulatory rights over its oil and gas activities, the state has yet to make headway on exercising full regulation and previous business processes are still in place, said sources. The state began regulating its oil and gas industry in accordance with the Sarawak Oil Mining Ordinance 1958 and other relevant regulations on July 1 last year.
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