By RUPINDER SINGH

Petroliam Nasional Bhd (Petronas) has issued a statement addressing recent speculation that it is considering legal action against the Sarawak state government over natural gas distribution rights.

The response comes in light of a Channel News Asia (CNA) report from September 7, which cited anonymous sources suggesting that Petronas was contemplating filing a court injunction to protect its monopoly on Malaysia’s petroleum and gas resources.

In its statement today, Petronas clarified that it is currently engaged in discussions with both the Sarawak state government and the Federal Government, as well as Petroleum Sarawak Bhd (Petros), to seek a mutually agreeable resolution.

The national oil company noted that its goal is to establish a “win-win partnership” that acknowledges the strengths and constraints of each party involved.

Petronas asserted, “Our position is that any resolution developed by all parties must have the country’s best interest at heart and should not jeopardize the economic stability of the country.”

The company also stressed its commitment to working collaboratively with all stakeholders to maintain a “thriving and conducive investment climate in Malaysia.”

The CNA report indicated that the potential legal action is driven by Sarawak’s push for greater control over the trading and extraction of oil and gas resources.

According to the report, the dispute could escalate into a full-blown court battle if the state government does not resume negotiations with Petronas.