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Date Posted: 09:47:06 02/04/08 Mon
Author: saya pelajar ekonomi
Author Host/IP: NoHost / 203.114.48.155
Subject: few things to ponder

obviously,most Malaysian has no idea about O&G industry.

-NGV is totally sold at basement prices by Petronas. they don't make money on that
-different quality of crude oil means it take different amount of energy to produce the same quality of finished products (petrol, diesel, etc...). it doesn't mean we get "low" quality petrol.
-tapis blend is sold at 10% premium in the world market
-oil and it's products are commodity. many other players (shell, exxon mobil, murphy, connoco philips, nippon oil etc) harvest malaysia's oil field and sold OUR oil. in return, we get technologies from foreign oil companies. kikeh field is the 2nd deepwater field in the world.
-we tax the hell out of exploration players playing in malaysia. tax rate of o&G companies in malaysia (including petronas) is whopping 38%.
-the oil from your gas station doesn't necessarily comes from malaysia. in fact, you don't really care where it comes from. you only care that it's under RM2 per liter and it runs your car.
-malaysia is always to be run out of oil by 18 years since 35 years ago. will we reach peak? we'll see

all said and done, in my opinion, petronas is one of the best run GLCs in the country. exxon-mobile, the largest O&G company in the world, the gold standard, posted a net profit of USD40 billion on revenue of USD400 billion. that's a 10% profit margin.

petronas posted a profit of USD14 billion on revenue of USD 50 billion. that's a 30% profit margin. and we just a semi-global player. to give you some perspective, petronas profit around USD350 per second in 2007. imagine you getting USD350 for every air you breathe in 2007.

my opinion
- malaysian are addicted to subsidies. subsidies should be cut, but gradually, as overnight change will hurt a lot of people. why there's a "dies" word in subsidies? cause subsidies never work in the long run.
- malaysia will be net importer of oil by 2011, why do we still need subsidy? oh, kita kena "bantu" mereka.
- malaysians should never think o&g is the saviour of the country. people should think it's just another business like norway.
- free market and small government may save malaysia.

disclaimer
- my friend work for an O&G company (not petronas)

conclusion
- undilah PAS, DAP, KEADILAN bukan kerana janji nak turunkan minyak tetapi untuk menewaskan parti UMNO yang sampah tu. Penuh kaki betina, kaki judi dan juga matlamat islam hadhari yang tak nampak mana satu tujuannya..Hipokrit zainudin maidin tak dpat dibendung lagi...

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